When working with multiple borrowers on a deal, you may need to provide each client with an individual application summary. This ensures that borrowers only see their own personal information, maintaining privacy while meeting compliance requirements. Finmo allows you to generate separate application summaries by temporarily hiding borrowers in the deal.
Click the red arrow below to watch a short video.
How do I generate an application summary?
1. From your main deal screen, select the deal you want to work on.
2. Go to the "Compliance" section.
3. Select "Application summary" and click on "Generate"
At this stage, the document will include all applicants information.
4. Click on "Generate Form".
How do I generate individual application summaries?
1. In the application, hide the secondary borrower (in this example, Mary).
Note: You can only hide a borrower if they are not set as the main borrower.
2. Go to the "Compliance" section.
3. Select "Application summary" and click on "Generate"
At this stage, the document will not include the hidden borrower's information and only include the primary applicant's information (in this example, Andrew).
4. Download the file.
5. Go back to the application and unhide the borrower you hid (in this example, Mary).
6. Make that previously hidden borrower the main borrower.
7. Hide the secondary borrower (in this example, Andrew)
8. Return to "Compliance → Generate Documents" and generate the Application summary again.
This version will include only Mary's information .
8. Download this second file.
9. Go back and unhide the previous borrowers you hid to restore the application.
10. Now you have two separate application summaries which you can send to each borrower for signatures, ensuring compliance and protecting privacy.
Should you have any questions please click on the chat button in Finmo for help.