Finmo has created a powerful feature designed to streamline the application process by using artificial intelligence. This tool allows brokers to create deals quickly and efficiently by inputting various types of data such as email chains and chat transcripts to automatically create a deal and populate the known information for you. Whether you’re starting with basic information, an email chain, a chat transcript, or a complete deal description, the AI can handle it all, ensuring that your deals are populated with accurate and comprehensive data.
Watch a video to learn how it works:
How to create a new deal using the AI deal create button (basic)
1. Go to your "Deals" dashboard on Finmo by clicking on the handshake icon.
2. Click on "AI deal create" button on the top right.
3. A pop up will appear:
3. Enter details like the client's name, email, the purpose of the deal and any other information you have collected from your client.
4. Click on "Create deal" and AI will create a new deal using the provided data. Of course the more information you are able to provide, the more information will be entered for you into the application.
5. After a few seconds a new deal will be created using that information provided and will appear on your dashboard.
Make sure you review the application before inviting your clients to make sure the information is correct.
How to use an email message or email chain to populate the AI
1. Go to your "Deals" dashboard on Finmo by clicking on the handshake icon.
2. Click on "AI deal create" button on the top right.
3. A pop up will appear:
4. Copy your email exchange with your clients and paste it into the AI text box. The AI will extract relevant information such as the mortgage request, employment history, and property details.
5. After a few seconds a new deal will be created using that information provided and will appear on your dashboard.
Important: Make sure you review the application before inviting your clients to make sure the information is correct.
6. Invite the borrower(s) once you've reviewed and updated the application, This step allows you to leverage Finmo's Smart Documents feature, saving you significant time and reducing data entry efforts.
How to use a chat transcript to populate the AI
1. Go to your "Deals" dashboard on Finmo by clicking on the handshake icon.
2. Click on "AI deal create" button on the top right.
3. A pop up will appear:
4. Copy and Paste the chat transcript from your transcription tool (e.g., Fireflies.ai) into the input field. The AI will extract relevant information such as the mortgage request, employment history, and property details.
5. After a few seconds a new deal will be created using that information provided and will appear on your dashboard.
Important: Make sure you review the application before inviting your clients to make sure the information is correct.
6. Invite the borrower(s) once you've reviewed and updated the application, This step allows you to leverage Finmo's Smart Documents feature, saving you significant time and reducing data entry efforts.
How to use a full, written deal description to populate the AI
1. Go to your "Deals" dashboard on Finmo by clicking on the handshake icon.
2. Click on "AI deal create" button on the top right.
3. A pop up will appear:
4. Copy and Paste the written information into the input field. The AI can interpret and fill out all necessary fields, including borrower information, employment history, assets, liabilities, property details, and mortgage information.
5. The completed application may take a few minutes but once completed a new deal will be created using that information provided and will appear on your dashboard.
Important: Make sure you review the application before inviting your clients to make sure the information is correct.
6. Invite the borrower(s) once you've reviewed and updated the application, This step allows you to leverage Finmo's Smart Documents feature, saving you significant time and reducing data entry efforts.
FAQ's
Can you recommend an AI note taker for client interviews and how do I use it on Finmo?
Enhance your business by incorporating an AI note taker, such as Fireflies.ai, during client interviews. This tool helps you focus on the conversation while it captures detailed notes.
Conduct your client interview while Fireflies.ai records and transcribes the conversation.
After the interview, copy the transcribed summary.
Paste the summary into the AI Deal Create input field.
Click "Create Deal" to generate a new application with the captured details. Benefits:
Tip: By using an AI note taker, you can ensure all client details are accurately recorded and easily transferred into a new mortgage application, saving time and reducing data entry errors.
Can I update an application if I get further information from the borrower using AI?
At this time you can only create or start a new deal using the AI deal create .
What if the information I have provided to the AI is incomplete?
If there is not enough information provided in the AI chat box in order to generate a new application, the missing information will be displayed in red so you can follow up to get what is missing with your client.
Additional resources:
Should you require further assistance, please contact our support team via the chat bubble or by email support@finmo.ca