Finmo has added a new feature whereby you can submit directly to a lender.
Eventually, this will allow a mortgage professional to bypass pushing to Filogix/Expert and submit your deals to every available lender. At this time we have a select group of private lenders that you can submit deals directly from Finmo. You do not have to be a Finmo Pro subscriber to do this, however, if you are a Finmo Basic user, you won't have the ability to submit documents with the deal via Finmo.
If you are not submitting your deal to one of the private lenders available on Finmo, please continue to push your deals to Filogix Expert and pull credit there.
1. Click on the deal that you want to submit.
2. Ensure that the deal is in your control as any changes made by the borrower won't be reflected on your lender submission.
3. Review and complete anything in the application that the lender will require, including the "Subject Property" section.
4. Click the Submit tab (top right)
Scroll down to the Private / Mic lenders and click on the "+" sign to view more info on that lender, or to start the submission.
This will open up the "Submit" page. A draft of your lender submission will open and you will see the GDS/TDS information and Mortgage request details displayed on this page.
Please note: Downpayment info and "GDS/TDS cannot be edited in the Submission form itself. Click on "GDS/TDS at the top of the page, then choose the "gear icon" to open settings and edit.
Next go through and clear up any validation issues that may have been flagged and enter the mortgage information and additional details in the submission. To learn more about validation click here.
Enter Mortgage information and Additional Details
Add documents to a deal being submitted to a lender
Adding docs to a lender submission is a Finmo Pro feature. Click here to sign up for Finmo Pro.
1. Click on the "Submit" tab at the top of the page.
2. Scroll down to the "Documents" section or click on "Documents" in the Quick Links menu.
Here you will see a list of all accepted docs that are in the application. Click on "Edit details" and check the ones you'd like to include and click on "Save changes".
If there are additional documents that you want to upload and send the lender that is not in Finmo, you can upload them under Additional Documents and "Save changes".
Select the "Submission agent" and the "Agent on the deal" from the dropdown menus.
If the agent on the deal needs to be someone else on your team, click here to see how to add that team member to the deal.
Enter your Notes for the Lender and click "Save changes".
Finally, scroll down to "Submit" and click on "Submit to lender". If you receive an error message, go back and make the recommended adjustments and submit again.
If you have additional questions, please contact firstname.lastname@example.org or use the chat bubble on this page.