Keep track of your deal’s progress with "Status" column in Finmo. These statuses can be manually adjusted or automatically updated based on client and lender actions. Plus, they integrate seamlessly with your CRM through REST hooks, Zapier, and our REST API.
Click below to watch a video:
How to change the status of a deal from the deal dashboard
1. In the "Status" column on the deal dashboard click on the status of the deal you'd like to update.
2. Select the status you would like to change it to.
Note: If you select "Cancelled" as the status you will be shown a pop up where you can enter detailed information as to why it was cancelled.
How to change the status of a deal from within the application
1. Click the down arrow on the status listed on the far right of the screen to reveal a drop down menu and select the new status.
FAQ's
What do the statuses mean?
Status Name | Status definition | Status Colour |
New Deal | A newly created record in the Finmo system. No activity on this deal yet. | GREY |
Borrower Editing | The borrower is currently completing the application via the Finmo portal. | BLUE |
In Progress | The broker is in the process of evaluating the borrower’s financial profile and eligibility for a loan. This may include preparing and submitting an application to a lender. | PURPLE |
Pre-qualified | The broker has evaluated the borrower’s profile and determined a loan amount and rate for which the borrower can qualify. This may include a pre-approval or a rate hold. | BLUE |
Live deal | The borrower has made an offer which has been accepted. Then, the broker must prepare and submit an application as soon as possible. | PURPLE |
Submitted | The broker has submitted an application to the lender for approval and is waiting to hear back. | BLUE |
Approved | The submitted application has been approved with conditions. The broker is working with the borrower to fulfill the conditions. | PURPLE |
Broker complete | Conditions have been fulfilled and the lender has issued instructions to the solicitor / notary. The broker is waiting on the solicitor’s duties to be fulfilled. | BLUE |
Funded | The broker has received confirmation that the funds have been transferred from the lender to the appropriate parties. | GREEN |
Declined | The lender has declined the submission | RED |
Cancelled | The borrower or broker has decided to abandon the deal. | RED |
What do the colours assigned to each status mean?
Grey : Unactivated or hasn’t been engaged with yet
Blue : Actively working on the deal but it’s with another party (borrower/lender/lawyers),
Purple: Actively being managed by broker
Green: Success/Positive
Red: Deal was cancelled or declined
Can the statuses intergrate with CRM's?
Yes they can :)
REST Hooks: These statuses are available through our REST hooks, allowing real-time updates in your CRM.
Zapier: You can use Zapier to set up triggers that sync these statuses with your systems.
REST API: For more custom solutions, our REST API provides full access to these status changes.
Should you have any questions please click on the chat button in Finmo or email support@finmo.ca.