Getting set up on Finmo has never been easier. This video walks you through the Finmo onboarding checklist, designed to get you using Finmo within 30mins.
0:48 - Personalizing your borrower portal
1:32 - Inviting team members
1:48 - Setting up your submission profile including inputting Expert profile number, team details, brokerage address, and Equifax details.
4:12 - Overview of the rest of Finmo - where to find everything - Dashboard, Deals, Compliance review for compliance managers, Lead Generation, Team Performance Dashboards,
6:35 - Team Settings including Team profile, Team members, Submission Profile, Favourite Lenders, Client consent forms,
7:50 - Smart Documents - Finmo will scan your application, reference your Smart document rules, then once client submits applications, client will be shown immediately the list of documents you as a broker need to get them approved. The borrower can then upload the documents themselves into a secure and easy to use online document portal.
8:45 - CRA tax packages
9:00 - Enabling Bank Document Pulls
9:23 - Build your checklist for required Compliance documents
10:15 - Turning on MPP
11:40 - Security and turning on two factor verification
Creating a deal in Finmo is easy. Do it yourself, or let application come to you already filled out via your personalized links and referral links.
0:19 - The three ways to create a deal in Finmo
0:26 - Borrower created through your personalized links
0:54 - Borrower created through your referral links
1:27 - Broker created directly in Finmo
2:30 - Where to find your deals
Finmo was built to enable you to deliver a best in class digital experience to your borrower. You may be asking yourself what your clients sees and goes through on Finmo, which we've outlined for you in this video.
0:44 - Borrower application view
0:53 - Client email to get invited, and sign in
1:07 - The six steps we ask borrowers to complete
2:15 - Final view before client hits submit
2:21 - What smart document collection looks like from the borrower's perspective including bank statement pulls.
Working a Deal in Finmo
0:33 - Reviewing a client's application at a glance
0:47 - Overview tab with all communication to a client
0:55 - Qualifying details including TDS/GDS, LTV
1:37 - Underwriting a deal
3:12 - Pulling Credit and viewing a credit report
4:15 - Inputting property details
5:35 - Payment details and calculating scenarios
6:10 - Product Qualification - finding lender products that work for your specific deal criteria
6:50 - Sharing product options with your client
7:30 - Submission steps, including reviewing lender policies
8:08 - Reviewing any validation errors
0:10 - Getting set up in your team settings
0:19 - Creating your required documents (also known as your payroll checklist)
1:00 - Setting up your generated documents (for example, a signing package). Pick from our full library of compliance documents from provincial regulators across the country.
2:10 - How to enable Scarlett, if that's the payroll system you use
2:20 - How to complete compliance documents within a specific deal. Here you can download compliance documents, edit mortgage details, and add fees (like a legal fee).
3:20 - How to use Filogix Expert for your payroll system
3:30 - Generate an MPP file for a borrower (including sending your borrower a link to the online MPP portal for completing mortgage life insurance).
4:20 - Generating documents like an amortization schedule.
5:25 - Manage e-signing
5:57 - Adding documents manually, if needed