Finance / Banking
TD Bank Group: Verifying mortgage application documents and preparing summaries for funding and discharge work
- Company
- TD Bank Group
- Country
- Canada
- Adoption stage
- In operation
- Source published
- In use from
- Date basis
- The date the source was published. It can differ from the date adoption started.
- How the source was checked
- Read the full source text
The work problem
According to a TD Bank Group press release, TD's Real Estate Secured Lending business handles repetitive work at several stages, from reviewing applications to mortgage funding and discharge, checking documents and reconciling information across several systems. According to an official TD story, reviewing an application took an average of 15 hours per client. TD said it wanted to reduce repetitive work such as gathering information and comparing documents so that colleagues could spend more time on clients and complex judgments.
Technology and data
According to the official TD story, the first agentic AI model built by Layer 6, TD's AI centre of excellence, was introduced in May 2026 for processing applications for mortgages and Home Equity Lines of Credit. The model reads client documents, calculates income and validates it against policy requirements, performs consent checks and income verification, looks for discrepancies in the application and then automatically generates a memo with its findings for underwriters. According to the TD Bank Group press release, TD extended the same approach to select work in the mortgage funding and discharge stages. In funding, the capability brings key client and property details into a concise case summary, and in discharges it assembles the information needed to prepare a discharge statement. These capabilities coordinate multi-step document verification, connect information across systems and flag potential discrepancies. Colleagues review the AI-generated outputs and remain responsible for decisions that require human judgment, and they also check the final discharge statement before it is issued. TD said all of its AI tools are developed under its Trustworthy AI governance framework, which includes checks at every step and a human in the loop.
Results
According to the official TD story, application review that once took an average of 15 hours per client now takes an average of 3 minutes, and 100% of new personal mortgages currently go through this process. The story said this lets colleagues at about 1,100 Canadian branches and 1,500 Mobile Mortgage Specialists and assistants focus more on the client experience. The TD Bank Group press release stated that average processing time for pre-adjudication fell from 15 hours to less than 3 minutes. According to the same release, colleagues can complete the initial review in the funding stage in up to half the time, and TD said the new capabilities are designed to double colleague productivity in select mortgage processes.
Limits and open questions
The press release only says the funding and discharge capabilities are used in select processes and does not disclose their scope, the number of branches or the measurement period. The doubling of productivity is presented as a design goal, and the sources do not give the measurement method or error rates behind the processing time figures.
Sources
- TD expands agentic AI across mortgage operations to make banking faster, simpler and more humanstories.td.com, Accessed
- How TD developed its first agentic AI toolstories.td.com, Accessed
Compiled from public sources. These are not results from ATF Works customers.