Last Updated: November 19, 2022
Please read our Terms (especially the clauses about liability and dispute resolution and class action waiver) carefully since they are legally binding. By using the Service, you confirm that you accept our Terms, that you agree to abide by them, and you are giving us permission to contact you as set out further herein. Please note that these Terms are subject to change from time to time.
If you do not agree to our Terms, please do not use our Service. If you need clarification on the Service contact us at email@example.com.
Your use of the Service shall be a clear acknowledgement that you agree with our Terms.
Understanding Our Role
You (the “Mortgage Professional”, “you” or “your” as context dictates) can leverage our Services for the purposes of assembling and submitting to lenders the information package as required for loan application (“Application”) of prospective borrower (each a “Client”). Our Services only provide functioning data repository which enable you to offer a more efficient Application submission than has previously been generally available – you, the Mortgage Professional, and your Clients continue to be responsible for compliance with any applicable laws and rules generally set out by a governmental and regulatory authority.
We provide the Service in our own personal or corporate capacities, and should not be considered an agent or representative of a Mortgage Professional, a Client or a lender.
Though your use of our Service is subject to our Terms, many aspects of the process to submit the Application and receive information from lenders may be subject to third parties’ policies and rules, including those relating to your lender intermediaries and the lenders, as well as the app stores where a Client downloads and uses our App. We encourage all parties to be aware of those policies and rules, as applicable since we do not control, track, or otherwise influence those third party rules.
How Our Service Works
Account Credentials – Management and Incidents
Your access to our Services requires you to register and create an account on the Website. Once your account is created, you must keep your account credentials confidential and you may not share your account credentials with others. You must inform us immediately if your account has been compromised (e.g. you think someone may be able to use the Service using your credentials or a virus or other malware on your computer is impacting your ability to log in to our Website). If we suspect any unauthorized access to your account or if we see or suspect suspicious activity in relation to your account, we retain the right, but do not have the obligation, to suspend your account and take any other related action as we deem reasonable, and you agree to assist in executing such actions, which may involve your resetting of passwords or taking other measures as may be required. We will not be responsible for actions of another person if you do not notify us in a timely manner about the vulnerabilities posed to you.
If any communication you receive from us looks suspicious or has links that you do not expect, please do not open or click through. Instead, email us at firstname.lastname@example.org.
You may decide at any time to cancel your account by contacting us at email@example.com. We reserve the right to suspend, and if deemed appropriate, cancel your right to use the Service. The Fees (as defined below) paid for Services will not be refunded for a cancellation prior to the end of the then current billing cycle.
Fees and Payment
Use of Finmo is free for your Clients.
Changing Plans. Any Mortgage Professional team who are on Finmo Pro do not have the ability to elect to use Finmo Legacy for a fee as specified in the Finmo Legacy billing page ("Fee").
Combination. From time to time, Finmo may, at its sole discretion, offer Finmo Pro in combination with one of Lendesk’s other products. When using any combination of Lendesk’s products, you agree to be bound by each of their respective online terms of service or use. The pricing for any combination of products is either displayed: (i) on the pricing page on the Website and may change from time to time, or (ii) in your order form and may change as specified in such order form. In a combination scenario your billing may occur in either the Finmo account or other product’s account at our sole discretion. Finmo reserves the right, in its absolute discretion, to withdraw or to modify a combination offer at any time without prior notice and with no liability.
Promotions. From time to time, Finmo may, at its sole discretion, offer certain promotions related to the Services. The rules with respect to any promotion will be specified within the App or on the Website and you agree to follow such rules in order to participate in any of the promotions. Finmo reserves the right, in its absolute discretion, to withdraw or modify a promotion at any time without prior notice and with no liability.
Payment Card Authorization. Finmo may seek pre-authorization of a Mortgage Professional’s payment card account prior to your purchase of the Services in order to verify that the card is valid and has the necessary funds or credit available to cover your purchase. You authorize such payment card account to pay any amounts described on the Finmo Pro billing page, and authorize Finmo to charge all sums described in these Terms to such card account. You agree to provide Finmo updated information regarding your payment card account upon Finmo’s request and any time the information earlier provided is no longer valid.
Electronic Invoice. In some cases where Finmo may need to issue an invoice for Services, the Mortgage Professional will be issued an electronic invoice for payment of the Fee of the next payment interval. Mortgage Professionals must pay the invoice by the due date indicated on the invoice.
We retain the right to modify the Fees and will notify you of any changes in fees applicable to you.
If we terminate, suspend or remove your account for any reason, including your violation of our Terms, we are not obligated to compensate you in any manner.
Representations, Warranties and Covenants
You acknowledge and agree that:
(1) you are 18 years old or older;
(2) you have the authority to bind yourself, or such other party which you may be representing, to our Terms;
(3) your use of the Service shall only be for purposes that are permitted by these Terms, and
(4) you will comply with all applicable laws, including regulatory requirements and government orders of any kind applicable to your use of the Service and handling of Client data.
You promise that you shall not directly or indirectly:
(1) take any action, including placing statements, logos or trade-marks, which gives the impression to a person that another party created the Services we provide;
(2) register for more than one account when using our Service;
(3) reverse engineer, de-compile, disassemble or otherwise attempt to discover the source code or underlying ideas or algorithms in any part of the Service;
(4) use or allow the use of the Service for any purpose other than what is authorized by us;
(5) damage, disable, overburden or impair any part of the Services, including our servers or network, or interfere with any other party’s use and enjoyment of the Service;
(6) access the Service in order to build a commercially available product or service which competes with the Service;
(7) copy any features, functions, integrations, interfaces or graphics which are part of the Service;
(8) violate any laws;
(9) make statements, on any part of the Service on any topic associated with us, which could reasonably be considered false or misleading;
(10) willfully tamper with the security of the Service, including attempting to probe, scan or test the vulnerability of the Service or to breach its security or authentication measures;
(11) transmit any information, through the Service in any other manner, which may be: (i) unlawful, threatening, abusive, libelous, defamatory, obscene, vulgar, indecent, inflammatory, sexually explicit, pornographic or profane; (ii) in violation of a third party’s rights in inventions, discoveries, or improvements (whether patented or able to be patented and whether or not reduced to practice), including patents, patent applications, certificates of invention, utility models, continuations, continuations-in-part, provisionals, divisions, reissues, renewals, re-examinations and extensions thereof, trade secrets, know-how, designs, methodologies, processes, rights in data, and similar rights; the protection of works of authorship or expression and copyright (whether or not registered), trademark, trade names, service marks, logos, domain names and trade dress; and similar rights under any laws or international conventions throughout the world, whether now existing or hereafter arising or developed, including the right to apply for registrations, certificates, or renewals with respect thereto, the rights to prosecute, enforce, and obtain damages (“Intellectual Property Rights”) or is subject to Intellectual Property Rights; (iii) refutes or is contrary to what is set out anywhere in the Service; (iv) is considered “spam” (including machine or randomly-generated, constitutes unauthorized or unsolicited advertising, chain letters, any other form of unauthorized solicitation or any form of lottery or gambling); (v) contains or installs any viruses, worms, malware, Trojan horses or other content that is designed or intended to disrupt, damage or limit the function of any software, hardware or telecommunications equipment or to damage or obtain unauthorized access to any data or other information of any third party; and (vi) violates the privacy of any third party; or
(12) attempt to gain unauthorized access to the Service or our computer systems or networks through hacking, password mining or any other means.
We reserve the right to investigate and prosecute, to the fullest extent of the law, any violation of the above. We may suspend, modify or terminate your use of the Service immediately at our sole discretion.
Filogix Marketplace Terms
If you use the Filogix Marketplace (as defined below) in connection with or as part of your use of the Services, the following terms (these “Filogix Marketplace Terms”) are applicable to your use of the Filogix Marketplace, and in the event of any inconsistency or conflict between these Filogix Marketplace Terms and the remainder of these Terms, these Filogix Marketplace Terms will prevail with respect to your use of the Filogix Marketplace:
- Definitions. In these Filogix Marketplace Terms:
A. “Customer Data” means all information provided by or on behalf of Finmo in connection with your use of the Filogix Marketplace either by input through the Filogix Marketplace or otherwise, and includes any information provided by you accessing or using the Filogix Marketplace.
B. “D+H Corporation” means D+H Mortgage Technology Corporation, a third party vendor.
C. “Data Access Rights” means the right to access information via the Marketplace in connection with mortgage applications and related activities.
D. “Filogix Marketplace” means the system operated by D+H providing access for you to exercise Data Access Rights, which may be provided to you as a third party integration.
E. “Filogix Submit API Services” means D+H Corporation’s application programming interface providing Data Access Rights and access to the Marketplace to facilitate mortgage application processing as well as other electronic services for ordering, processing and fulfilment of financial- or mortgage-related products, including appraisals, home warranty, life, disability or other insurance, credit cards, title insurance and legal closing services.
F. “Lender” means a private lender or a financial institution who is a Marketplace User and who receives Loan Applications via the Filogix Marketplace.
G. “Loan Application” means a loan application submitted via the Filogix Marketplace.
H. “Marketplace Users” means Lenders and others authorized by D+H Corporation to access the Filogix Marketplace by means of Data Access Rights and to offer services, products and information to other Marketplace Users.
- You hereby agree that:
A. that D+H Corporation is not responsible for investigating or verifying the accuracy of any information accessible via the Marketplace including information submitted or made available by any prospective mortgagor or other Marketplace User, any acts or omissions by a prospective mortgagor or customer, the creditworthiness of any prospective mortgagor or customer or verifying the accuracy of any information available via the Marketplace;
B. to comply with all specifications, standards, policies and operating procedures relating to the Marketplace and the Data Access Rights, which may be amended from time to time by D+H Corporation in its sole discretion on notice to Finmo;
C. you shall not use the Data Access Rights or the Marketplace to transmit, upload, download, e-mail, access or otherwise make available content that: (i) is contrary to law; (ii) violates third party rights of any kind; (iii) is harmful, threatening, abusive, libellous, hateful or racially, ethically or otherwise objectionable; (iv) interferes with or disrupts (by way of unreasonable bandwidth use or otherwise) the Marketplace; or (vi) solicits, directly or indirectly, other Marketplace Users, to become employees of or associated with you or to buy, purchase or license products or services which have not been authorized by D+H Corporation;
D. you shall submit a mortgage loan application to one Lender only, for acceptance or rejection and, only after a loan application or commitment is rejected, may a loan application from the same borrower be submitted to another Lender and so on from time to time so that no more than one Lender at a time is considering a loan application from any one borrower, provided, however, a loan application shall be deemed to have been rejected by a Lender if a Lender does not respond within four hours of the time that you submit the application;
E. you shall ensure it maintains in the Marketplace the current status of all mortgage loan applications;
F. to comply with all laws applicable to the use of the Marketplace and the Data Access Rights, including any requirement to be registered or licensed as a mortgage broker in each jurisdiction in which it carries on business;
G. you will cause all your employees or independent contractors who originate or fulfill residential mortgages (“Customer Licensee Agents”) to comply with your obligations, and that you are liable to D+H Corporation for any acts or omissions of any Customer Licensee Agent;
H. to obtain from your Clients and other Marketplace Users any consent, acknowledgement or agreement that may be required for the use, transfer or disclosure of Customer Data by you and other Marketplace Users;
I. that all the limitations and exclusions of liability, indemnities and disclaimers of warranties set out in the Terms extend and are made to the benefit of D+H Corporation;
J. you shall indemnify D+H Corporation and Finmo, D+H Corporation’s and Finmo’s affiliates, and each director, officer, employee, agent, consultant, advisor, and other representative of any of the foregoing, and each of their heirs, executors, successors, and assigns against any reasonable out-of-pocket expense (including court filing fees, court costs, arbitration fees, witness fees, and attorneys’ and other professionals’ fees and disbursements), and any amount awarded in, or paid in settlement of, any judicial, administrative, or arbitration claim, suit, action or proceeding (including any interest) arising out of any arrangements, discussions, dealings, contracts or agreements with any prospective mortgagor by you; and
K. that D+H Corporation is a third party beneficiary of the rights of Finmo under these Terms in respect of any right of obligation relating to the Filogix Submit API Services.
Rights and Ownership
Rights in our Intellectual Property. Finmo and its licensors own all Intellectual Property Rights in the Service including applicable copyrights, patents, trademarks and other proprietary rights. Other than usage rights, you don’t have any rights of any kind in our Service. Our Terms do not transfer any intellectual property between you and us, and we reserve all rights that are not expressly granted under our Terms.
Your Data. Given our Services’ function as repository of your and your Client’s data, we appreciate that your data is very important to you.You own your data.Finmo does not gain any ownership or use rights in such data other than as set out herein.
Your Account and Customer Support. Finmo’s Customer Success Team is happy to assist by troubleshooting various issues you report. To do so, we may need to use a feature that allows us to access your account, your data and Client’s data. When necessary, and requested by the user, Customer Success Team representatives may ask you for permission to do this so we can look into an issue. Customer Success Team will be able to access all information that is available to the user and troubleshoot issues as needed.
Granting this permission allows us to access your date and Client’s data, however our policy is to view client data for support purposes only. No changes, edits or manipulation to your data and Client’s data will be made by our representative. Customer Success Team will be able to access all information that is available to the user and troubleshoot issues as needed but any changes to client data must be made by the account holder.
Rights to Inputs. If you ever make, or are ever invited by us to make comments, improvement suggestions or provide other content (“Input”), you will do so without any expectation from us and we shall have a royalty-free, worldwide, transferable, sublicensable, irrevocable, perpetual license to use or incorporate such Input into our Service or our business as we see fit. We have no obligation to monitor the submission of, or make use of, such Input.
Right to Modify Content. As agreed upon, we will offer you the ability to modify certain text blocks on our App or Website in order to tailor certain text for your business purpose. You will not expect, and we will not be obligated to provide, any review, approval, rejection, or check for legal compliance of the altered text. You will indemnify us from any liability arising from your modification of such text block as further set out under “Release and Indemnification” herein.
In the Event of Conflict Between Your Rights and Clients’ Requests
As part of your Clients’ use of our Services, their personal information (as such is defined under ThePersonal Information Protection and Electronic Documents Act (“PIPEDA”), shall reside on our or our subcontractors’ systems. PIPEDA sets out various obligation for us, including in respect of such Clients’ requests for disclosure of, access to, or removal of, their personal information from our systems. We are compelled to abide by Clients’ requests, subject to limited exceptions. We note you, as a Mortgage Professional, must comply with certain data retention obligations in respect of Client personal information utilized in an Application. We will, in the event of a request for removal of such Client personal information from our system, notify you promptly of such request. We will also, to support your compliance of your data retention obligations under applicable law, not destroy or remove such Client personal information in violation of your data retention policies and obligations, and you agree that as set out under “Release and Indemnification” clause herein, you will indemnify us for our assistance to you in our preservation of Clients’ personal information contrary to Clients’ request.
In the Event of Conflict Between Your Rights and your Mortgage Professional Requests
Finmo will recognize that companies that originate mortgages need to access deals inside a team or agents account that they own. Common examples for why the owner of a company that originates mortgages will want to monitor a team is for compliance, payroll, underwriting support, or branding support. Authorized mortgage origination company owners can get access to a team they own.
Customization of Consent Agreements / Credit Request in Finmo for your Clients.
It is your responsibility to ensure you adhere to your company’s policies pertaining to gaining, retaining, and confirming lawful consent from your borrower(s) to request their credit reports (also referred to as credit bureau). Furthermore, it is your responsibility to ensure the consent text provided to your borrowers through Finmo as well as the process employed through Finmo is approved by your company.
Links to Other Materials
Some of the links available to you through the Service will allow you to leave the Service. Such external internet sites and the material are not under the control of Lendesk, and Lendesk makes no representations and disclaims all liability with respect to such sites and materials. The links are provided only for your convenience, and their inclusion does not constitute nor imply approval or endorsement by Lendesk of the sites or their content.
Third Party Vendors
Certain features of the Service incorporate software that are developed by third parties (“Third Party Vendors”). You acknowledge and agree that your use of any services provided by Third Party Vendors is governed by the terms and conditions of such Third Party Vendors, which include, but are not limited to Google, Onespan, Equifax and Intercom. Any breach of the terms of conditions of such third parties, whether identified herein or not, shall constitute a breach of these End User Access Terms. We do not provide any representations or warranties with respect to software provided by Third Party Vendors.
Permission for Communication
We may use email, texts and other electronic means to stay in touch with you and you must ensure that you obtain all requisite permissions from your Clients for you to be able to, in turn, communicate with you Clients. You agree that when you provide us your e-mail address or personally identifying information (e.g. name, phone number) during or prior to access of the Service, you: (i) consent to receive communications from us, and, in certain circumstances, from Third Party Vendors providing certain portions of the Services which you selected, through electronic means, including via the email address or phone number you have provided us; and (ii) agree that our Terms, agreements, notices, disclosures and other communications that we provide you electronically satisfy any legal requirement that such communications would satisfy if they were in writing and physically presented to you.
IN ADDITION TO ANY OTHER DISCLAIMERS SET OUT IN OUR TERMS, THE SERVICE PROVIDED, INCLUDING ALL CONTENT, TOOLS, AND FUNCTIONS, ARE “AS IS” WITHOUT ANY REPRESENTATIONS OR WARRANTIES OF ANY KIND MADE BY US. WE EXPRESSLY DISCLAIM ANY EXPRESS OR IMPLIED WARRANTIES, INCLUDING, WITHOUT LIMITATION, MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, NON-INFRINGEMENT, RELIABILITY OR ACCURACY, OR INTEGRATION WITH ANY SYSTEM, INCLUDING THAT BELONGING TO A LENDER OR A LENDER INTERMEDIARY.
ALTHOUGH THE SERVICE MAY BE INTEGRATED WITH OR RUN ON THIRD PARTY SYSTEMS, WE ASSUME NO OBLIGATION AND PROVIDE NO GUARANTEES WHATSOEVER IN CONNECTION WITH THE PERFORMANCE OF THIRD PARTIES. WE ARE NOT RESPONSIBLE TO YOU FOR THE CONDUCT OF ANY SUCH THIRD PARTY OR FOR ANY RELATED DELAY, ERROR, INACCURACY, OR INACCESSIBILITY OF ANY MATERIAL OR SERVICE THEY SUPPLY.
WE DO NOT WARRANT THAT THE SERVICE OR THE FUNCTIONS THEREIN WILL BE UNINTERRUPTED OR ERROR FREE. YOU AGREE THAT YOUR USE OF THE SERVICE CREATES NO OBLIGATION UPON US, THE SERVICE PROVIDER, OTHER THAN AS AGREED UNDER OUR TERMS AND THERE IS NO RELATIONSHIP (WHETHER CONTRACTUAL, FIDUCIARY OR OTHERWISE) CREATED BETWEEN YOU AND US OTHER THAN PURSUANT TO OUR TERMS.
ALL THIRD PARTY MATERIALS ARE PROVIDED “AS IS” AND ANY REPRESENTATION OR WARRANTY CONCERNING ANY THIRD PARTY MATERIALS IS STRICTLY BETWEEN YOU AND THE THIRD-PARTY OWNER OR DISTRIBUTOR OF THE THIRD PARTY MATERIALS.
TO THE FULLEST EXTENT OF THE LAW, WE DO NOT REPRESENT THAT ANY INFORMATION EXCHANGED BETWEEN A PARTY IN THE PROVISION OF THE SERVICE IS SECURE, EVEN IF WE BECOME AWARE OF ANY, OR ARE TOLD ABOUT, A POTENTIAL BREACH.
Release and Indemnification
We may, at our sole discretion, choose to assume the exclusive defense and control of any matter otherwise subject to indemnification by you and you shall not in any event settle any matter without our written consent.
Limitation of Liability
Under no circumstances shall Finmo, its directors, officers, representatives, and affiliates be liable for:
(1) any indirect, incidental, special, consequential or exemplary damages arising from or relating to the use of the Service – this includes, but is not limited to, any loss of rewards or savings on purchases, profit, earnings, anticipated earnings, interruption or loss of service, or any consequential losses, problems, or fault howsoever arising out of the use of the Service; or
(2) the acts, omissions or conduct of any third party which interacts with the Services in the process of your use of the Services.
WITHOUT LIMITING THE FOREGOING IN THIS SECTION ENTITLED “LIABILITY” THE LIMIT ON TOTAL CUMULATIVE LIABILITY OWED BY FINMO (INCLUDING OUR REPRESENTATIVES AND AFFILIATES) TO YOU OR ANY PERSON FOR ANY CLAIMS ARISING FROM OR RELATING TO THE SERVICE SHALL BE LIMITED TO A MAXIMUM OF ONE (1) CANADIAN DOLLAR.
Term and Termination
Our Terms shall be deemed to be applicable to you upon your use of the Service and shall only cease to apply to you upon an actual deletion or deactivation of your account through the means stated in our Terms. Abandonment or non-use of the account will not lead to an automatic termination of your account and our Terms will continue to apply to you.
We may terminate your access to all or any part of the Service at any time, with or without cause and with or without notice, effective immediately and for any reason deemed appropriate in our sole discretion.
If you access the Finmo application programming interface (“Finmo API”), you (a) acknowledge that you have read and understand the API License agreement at https://www.lendesk.com/terms-finmo-api (“API Terms”); (b) represent and warrant that you have the right, power, and authority to enter into the API Terms; and (c) accept the API Terms and agree that you are legally bound by its terms. If you do not accept the API Terms, you may not access or use the Finmo API.
Our Terms May Change
Our Terms and any access to or use of the Service shall be governed by, and construed in accordance with the laws of the Province of British Columbia and the federal laws of Canada therein, without giving effect to any choice or conflict of law provision or rule that would cause the application of the laws of any jurisdiction other than those of the Province of British Columbia.
The parties confirm their express wish that this agreement and all documents related thereto be drawn up in the English language. Les parties confirment leur volonté expresse de voir la présente convention et tous les documents s’y rattachant être rédigés en anglais. If these Terms are translated into any other language, the English language version shall prevail.
If and to the extent applicable to Mortgage Professional, Mortgage Professional hereby waives any rights it may have pursuant to articles 2126 and 2129 of the Civil Code of Québec and acknowledges that its sole rights and recourses with respect to termination of these Terms are those set forth in the Term and Termination section.
Waiver of Class Proceedings
Users hereby waive any right they may have to commence or participate in any class action lawsuit against Finmo related to any claim, dispute or controversy and, where applicable, you and any User hereby agree to opt out of any class proceeding against Finmo otherwise commenced.
If any portion or provision of our Terms shall to any extent be declared illegal or unenforceable by a court of competent jurisdiction, then the remainder of our Terms, or the application of such portion of provision in circumstances other than those as to which it is so declared illegal or unenforceable, shall not be affected thereby, and each portion and provision of our Terms shall be valid and enforceable to the fullest extent permitted by law.
We may assign or delegate the Terms in whole or in part, to any entity at any time with or without your consent and without prior notice to you.
You may not assign or delegate any rights or obligations under the Terms without our prior written consent and any unauthorized assignment and delegation by you is void.
Headings and Summaries
Except as otherwise stated in our Terms or as expressly required by law, any notice to us, including for purposes of termination, shall be given in writing by certified postal mail to:
PO Box 48299 Bentall, Vancouver, BC, V7X 1A1
Any notice to you shall be given to the most current email address in your account.
Other Rules of Interpretation and Definition
Any reference to gender includes all genders; words importing the singular number only shall include the plural and vice versa; the word “or” is not exclusive; the words “including”, “includes” and “include” mean “including without limitation; and “shall” means “will” and “must”, all three of which can be changed interchangeably and shall not mean “may”. “handle” means to process, record, transfer, access, receive, use, disclose, retain, dispose of, destroy, manage, collect, store, or otherwise handle. “law” as used herein, means any statute, ordinance, regulation, rule, code, constitution, treaty, common law, governmental order or other requirement or rule of law of any governmental authority.
No Waiver of Covenants
Failure by any party to insist upon the strict performance of any of the covenants, agreements, terms, provisions or conditions contained in our Terms or to exercise any election shall not be construed as a waiver or relinquishment of such covenant, agreement, term, provision or condition but the same shall continue and remain in full force. No waiver shall be deemed to have been made unless expressed in writing.
Entire Agreement and Understanding