The 'Copy deal" button in the "Overview" section of the deal will save you time when you have a borrower with an existing application in Finmo who is looking to purchase again, renew or refinance. Simply select which information from their previous application you would like to copy into their new application.
How do I copy a deal?
Open the borrower's existing deal in Finmo.
Select "Overview" from the left menu
Click on "Copy deal"
Note: 'Account & personal details' are greyed out because they will always copy over into a new deal
1. Select which details you want to carry over and check the "Documents" checkbox to include documents and document requests should you wish to include them.
2. Select the purpose of the new deal.
3. Choose if you would like to archive the existing deal; then
4. Click on "Create copied deal".
5. After you have copied the deal, invite the borrower using the 'Update Borrower' link at that top of the screen to review and complete the new application as well as upload documents.
6. You will also need to grant access back to the borrower as the copied application is controlled by you .
7. Click on "Update borrower"
8. Select the borrower(s) you want to invite to the copied deal and type a message and click on "Send update" to send an email to the borrower(s)..
FAQ's
Can I bring documents and document requests into the new copied deal?
Yes, documents can be copied over from the previous application. All documents will be brought into the new deal as well as any existing document requests if the Document box is checked. You can't pick and choose.
Open the deal and go to the Overview section.
Click Copy deal.
Select the Documents checkbox.
Complete your remaining selections and create the copy.
Finmo creates a new application with a new deal number.
Note: Only documents from document requests associated with the borrower are copied.
Click the red arrow below to watch a video on how to add documents to copied or co-brokered deals.
How does a borrower switch between the different applications?
A copied deal uses the same email addresses for borrowers to log in. Borrowers can easily switch between applications
Will credit consent be copied into the new deal?
If you have Credit Consent PDF enabled in your Finmo account, you will also receive an updated credit consent agreement when the borrower submits their new application. Alternatively, you can use E-Signing to upload a consent agreement for the borrower to sign too. Any consents received in the old deal will not be copied over.
Should you have any questions or concerns please click the chat button in Finmo or email support@finmo.ca.