Grants and Contributions:
Title:
AI Integration for Mortgage Appraisal Tool
Agreement Number:
1022176
Agreement Value:
$49,010.00
Agreement Date:
Aug 26, 2024 - Mar 28, 2025
Description:
To build a real estate appraisal tool that assists Canadian mortgage underwriters assess risk during the mortgage underwriting process. The tool will utilize artificial intelligence (AI) to quickly interpret risks with optimal accuracy thereby reducing processing time, costs, and risk for financial institutions, banks, and credit unions.
Organization:
National Research Council Canada
Expected Results:
The purpose of IRAP Contributions to Firms is to support research, development, adoption and/or adaptation of innovative or technology-driven new or improved products, services or processes in Canada up to their commercialization
Location:
Kelowna, British Columbia, CA V1V 2B7
Reference Number:
172-2024-2025-Q2-1022176
Agreement Type:
Contribution
Report Type:
Grants and Contributions
Recipient Business Number:
785712134
Recipient Type:
For-profit organization
Recipient's Operating Name:
Worthit
Recipient's Legal Name:
Worthit Management Inc.
Federal Riding Name:
Kelowna--Lake Country
Federal Riding Number:
59014
Program:
Industrial Research Assistance Program – Contributions to Firms
Program Purpose:
The purpose of IRAP Contributions to Firms is to support research, development, adoption and/or adaptation of innovative or technology-driven new or improved products, services or processes in Canada up to their commercialization
Coverage:
IRAP Contributions to Firms projects stimulate wealth creation for Canada through technological innovation.
NAICS Code:
511211