🧮 Calculator tools
Calculate max mortgage from target LTV
Check out our new feature that quickly and accurately calculates the maximum mortgage amount based on a target LTV for refi and switch/transfer deals. This new functionality allows you to adjust loan details without leaving the calculator, and helps you provide clients with financing options based on their property value. Watch this quick video to learn more →
1% property tax assumption
We released another convenient feature that simplifies property tax calculations. You can now opt to automatically calculate the annual tax amount as 1% of the property purchase price. Simply click on the “Assume 1% of purchase price for annual taxes“ checkbox and it will automatically update annual taxes as the purchase price changes.
🤿 FINMO DEEP DIVE: Underwriting your deal
Are you ready to navigate the depths of our new calculator tools? Join us for a special training where we’ll explore real-world use cases of the new calculator tools, multi-property reviews, multi-component mortgages, and more! Secure your spot and let’s dive right in →
🏦 Meridian direct submission available
Earlier this summer, Meridian was working on updates that impacted how Finmo users submit deals to them. We’re happy to share that their work is completed and brokers are now able to submit to Meridian directly on Finmo. If you're unsure if you are an approved agent with Meridian, you can complete their Mortgage Agent Application form →
⚙️ Enhancements and bug fixes
Ontario Form 1: We rolled out important updates to ensure Ontario compliance forms are up-to-date with regulator guidance. In addition, key form fields will be automatically populated with application data, and all fields that need to be editable are configured as such.
Unassigned deals: When a user is removed from your organization, deals assigned to them will now display an icon indicating “No active brokers assigned”. This visual improvement was made without altering any core functionality.
OneSpan signature time zone: we’ve fixed an issue with the time zone for signatures on OneSpan. Now, signatures will show the correct local time zone of either the signatory or the broker, ensuring accurate timestamps on all your documents.