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How to send a borrower deal or document updates via SMS/text messaging or email
How to send a borrower deal or document updates via SMS/text messaging or email

Sending SMS (text) messages to your borrowers can dramatically increase conversions.

Marnie George avatar
Written by Marnie George
Updated over a week ago

There are two ways to send updates to your borrowers on Finmo, by email or by SMS/text message. You also have the option to either send a general message or a message specifically referencing documents. See below for instructions:

Note: Borrowers must have a mobile phone number entered in Finmo in order to send SMS/texts.

How to send a general message to borrower(s)

1. Go to the deal where you'd like to send an update via email/SMS

2. Click 'Update Borrower'

3. If there are multiple borrowers, select the name/names of the borrowers you would like to notify.

Note: if borrowers are not invited to the deal or have not accepted an invitation to create an account, they will receive the update as an email or sms/text but cannot access the application. If they have been invited and not yet accepted the invitation, a link will be provided on the email to create an account to receive these updates. Any replies are not saved in the Finmo activity and will be emailed to the broker.

4. Add a custom message. 

5. Check the box to send via SMS. If you don't check this box the message will only send via email.

6. Click 'Send Update'.

Note: You can see any updates you sent to borrowers in the "Overview" section of the deal in the activity feed.

I can't check the box to send a copy via SMS, what's wrong? 

If you haven't added a phone number to the borrower's account profile (this is different from the application), then you will need to add it before sending SMS notifications. 

What does the borrower see?

The borrower will receive a text message and/or an email displaying your message to them. If they have been invited they will also be given the option to login.

Note: Any responses from a borrower sent by email or sms will be sent to your email address and will not appear in the "Activity feed" on Finmo.

How to send borrower(s) messages in "Documents"?

1. Go into the "Documents" section and then click on "Update borrower"

2. Select the borrower(s) you wish to send the message to.

3. You will see a list auto-generated of outstanding documents which you can edit if you'd like

4. Type your message and send.

Note: if borrowers are not invited to the deal or have not accepted an invitation to create an account, they will receive the update as an email or sms/text but cannot access the application. They will be sent the following email or sms/text asking that the either email the outstanding documents to you or to provide them to an applicant on the deal who does have an account. An invited borrower with an account will also receive a link to login to their deal.

Can I view the previous communications sent to borrowers about documents?

Yes.

1. Simply click on "Update borrower" while in the document section

2. Previous communications will be displayed.

Note: Any responses from a borrower sent by email or sms will be sent to your email address and will not appear in the "Previous communication" section on Finmo.

Should you have any questions click on the chat bubble or send us an email support@finmo.ca.

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