Common Questions we receive about Lender Connect

Q: If I upgrade to the new Finmo Pro, with submissions done on Lender Connect, can I still push to Expert for payroll and compliance?

A: Yes, absolutely. You will always be able to push to Expert for payroll and compliance purposes, regardless of the Finmo plan you're on.

Q: Does Finmo’s Lender Connect have all the compliance documents I require?

A: Yes it does. Finmo has all of the major compliance documents required that can be generated right in the deal after it’s been submitted. Should you wish, you can choose to push your deal to Filogix after it has been submitted to a lender on Finmo and complete your compliance there as usual.

Q: I don’t have access to my Equifax credentials / my submission agent information

A: In order to submit to a lender in Finmo we do require your Equifax credentials and submission agent information. Scroll to the top of this article and you'll see instructions on how to get them. We're always on the other end of the chat bubble if you need help.

Q: I don’t want to switch from submission to Filogix Expert - learning a new system takes too much time and I'm used to Expert.

A: Learning a new system can seem daunting and sometimes it's easier to stick to what you know. However, we've designed Finmo, and Lender Connect based on feedback from hundreds of top brokers across Canada. Our mission was to make it easy and transparent. If you visit your dashboard on Finmo, you'll see a quick checklist of things to enter to set up Lender Connect. There are items like your broker license and Filogix Expert profile number - items that you likely have on hand. Then, it's simply a matter of entering that info into Finmo. Then you're all set up!

Brokers have told us they move faster with Finmo's Lender Connect. When they're working the deal in Finmo, there's no longer a need to toggle between two screens, and all your data is in one place.

Q: Can I use Finmo’s Lender Connect if I do a lot of commercial mortgages?

A; At this time, commercial mortgages are not supported on Finmo however it is something we are planning for the future.

Q: What if I need to co-broker a deal with someone who is not on Finmo?

A: We are able to manually add the push to Expert button on those occasions so you can co-broker a deal with a brokers not on Finmo.

Q: Lenders I use are familiar with Expert - how will they respond when I submit using Lender Connect?

A: Finmo’s Lender Connect is connected to our lender network of over 260 lenders. Similar to getting feedback from our broker community, we work extensively to receive and implement feedback from our lender partners. Our network of lenders is loving Finmo, especially since it allows them to receive information in their systems the way they are used to receiving it - nothing changes for them.

Q: I have an underwriter/team member that actually submits my deals for me in Expert

A: No problem, Finmo was built with a team flow in mind. Upgrading to Lender Connect allows you to have your team using Finmo at no cost! We also take care of training to make sure there is no impact on your business. Send your team member this link to book a time for a 1:1 session on setting up Lender Connect.

Q: I pool my deal under my primary broker/broker owner and they are not using Finmo

A: This is no issue! You can pool your deals under anyone required by adding them as a Submission Agent in your submission profile. You can add as many as needed.

Did this answer your question?