Last Updated: May 4, 2026

These Terms of Use (these “Terms”) set forth the terms and conditions that apply to mortgage professionals (the “Mortgage Professional”, “you” or “your”) and any lenders or lender employees (also “you” or “your”) who access and use the Finmo platform through the Finmo website (the “Website”), owned and operated by Lendesk Technologies ULC (“Finmo”, “we”, “our” or “us”), and the services available thereon (the “Service”).

 

Please read our Terms (especially the clauses about liability and dispute resolution) 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 are entering into these Terms on behalf of a company or other legal entity, you represent that you have the authority to bind such entity to these terms and conditions, in which case the terms “you” or “your” will refer to such entity. If you do not have such authority, you must not accept these Terms and may not use the Service. If you do not agree to our Terms, you are not permitted to use our Service. If you need clarification on the Service contact us at support@finmo.ca.

 

By accepting these Terms, you agree to be bound by the terms and conditions herein, as well as Finmo’s Privacy Policy located at https://www.lendesk.com/privacy-finmo (the “Privacy Policy”), as it may be amended from time to time in the future.

 

Your use of the Service shall be a clear acknowledgement that you agree with our Terms.

 

Understanding Our Role

You can leverage our Service for the purposes of assembling and submitting to lenders the information package as required for a loan application (“Application”) of a prospective borrower (each a “Client”). Our Service is solely provided to offer a more efficient way to submit Applications, and we do not guarantee that Applications submitted through the Service are in compliance with applicable laws. You, your users, and your Clients are responsible for all compliance with any applicable laws and rules generally set out by a governmental and regulatory authority in your use of the Service, including without limitation, when submitting Applications.

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, Federal Home Loan Mortgage Corporation or a lender.

The “User” in these Terms refers to the person who is subscribing to our Service acting solely for the person’s own benefit or an authorized individual acting on behalf of others (e.g. a company that originates mortgages and employees).

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. All parties should be aware of those policies and rules that apply to them. We do not control, track, or otherwise influence those third party rules and are not responsible for any failure by you or others to comply with such policies or rules.

 

Account Credentials

If you sign up for a Finmo account (“Account”), you agree that Finmo shall provide you and your authorized users with access to the Service through a username and password (together, a “User ID”). You agree and understand that you are responsible for maintaining the confidentiality of your User ID. That User ID, together with any or other user information you provide, including but not limited to your professional information and location, will form your “Profile Information” and allow you to access your Account. You will provide true, accurate, current and complete information about yourself, and you agree not to misrepresent your Profile Information. You represent and warrant to Finmo that you have not misrepresented any Profile Information. You are responsible for any Profile Information that may be lost or unrecoverable through use of the Service.

 

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. 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.

 

Your right to access and use the Service is personal to you and is not transferable by you to any other person or entity. You agree not to disclose your User ID to any third party. You are solely responsible for all activities that occur under your Account or under your Profile Information. It is your responsibility to update or change any Account or Profile Information, as appropriate.

 

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 support@finmo.ca.

 

Access Management

You are solely responsible for all access management activities relating to your users and accounts within the Services. You shall ensure that only users you designate with administrative privileges (each, a “Team Admin”) are authorized to provision access, assign and modify user roles (including Team Admin, team member, limited team member, and any other roles made available as part of the Services from time to time) and permissions, and deprovision access. You shall ensure that Team Admins promptly revoke access for any user who no longer requires access, including due to role changes or termination of employment or engagement, and conduct periodic reviews of user access rights to confirm such access remains appropriate and limited to what is necessary for each user’s role. You are responsible and liable for all acts and omissions of your users and for any actions taken through your accounts, including any failure to properly manage access resulting in unauthorized access.

 

Cancellation

You may decide at any time to cancel your Account by contacting us at support@finmo.ca. This is the only way to cancel your Account and you will not be provided with a refund, in whole or in part, of any pre-paid amount for a cancellation prior to the end of the then current billing cycle.

 

Finmo reserves the right at any time, and without cost, charge or liability, to terminate these Terms at its sole discretion for any reason, including, but not limited to, a failure to comply with these Terms. Finmo reserves the right to modify, suspend or discontinue the Service, or any portion thereof, at any time and for any reason, with or without notice.

Fees and Payment

You will pay to Finmo any fees for access and use of the Service, as set out upon sign up or use of a specific part of the Service (“Fees”), subject to the conditions in these Terms. We reserve the right to modify our fees at any time upon 7 days written notice by posting such fee changes to the Website, within the Service, or through email notification to you. If you continue using the Service after we have notified you of the fee changes, you will be liable to pay such modified fees.

Promotions. From time to time, Finmo may, at its sole discretion, offer certain promotions related to the Service. The rules with respect to any promotion will be specified within 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. When you set up an Account that requires payment of Fees, you will provide Finmo with valid and updated payment card information when creating an Account. Finmo may seek pre-authorization of the payment card details you provide prior to your purchase of the Service 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 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 any time the information earlier provided is no longer valid or upon Finmo’s request.

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 represent and warrant that:

(1) you and your users are 18 years old or older, or the age of majority in your jurisdiction of residence;

(2) you have the authority to bind yourself, or such other party which you may be representing, to our Terms;

(3) your and your users use of the Service shall only be for purposes that are permitted by these Terms;

 

(4) you and your users hold all consents, permits, licenses, approvals, and statutory authorities issued by any government or government agency or required by any third party that are necessary for your performance of the obligations under these Terms and to your Clients;

 

(5) you and your users shall not use artificial intelligence tools or output (i) to mislead any person that output generated from the artificial intelligence tools was solely human-generated; (ii) to make automated decisions that may have a detrimental impact on individual rights; (iii) to violate these Terms, or (iv) in a manner that infringes, violates, or misappropriates any rights of Finmo or of any third-party; and

(6) you and your users 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.

Acceptable Use and Conduct

 

You agree that you shall not directly or indirectly, or permit any other person to:

(1) take any action, including placing statements, logos or trade-marks, which gives the impression to a person that another party created the Service 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 Service, 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) collect, use or disclose data, including personal information, about Clients or other individuals without their informed consent or for unlawful purposes or in violation of applicable law or regulations;

(12) 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;

(13) attempt to gain unauthorized access to the Service or our computer systems or networks through hacking, password mining or any other means;

 

(14) use any artificial intelligence tools within the Service to generate outputs for the express purpose of creating synthetic training data to develop or train its own artificial intelligence tools, models or systems that have substantially similar functionality to the Service; or

 

(15) inject malicious or corrupted data into the Service or as part of your use of the artificial intelligence tools aiming to (i) cause the Service to produce inaccurate results, (ii) degrade the Service’s overall performance, (iii) influence or manipulate the outputs generated by the Service, or (iv) attempting to access the training datasets to introduce biases, vulnerabilities or otherwise influence the artificial intelligence tools in the Service in a way that could generate erroneous or adverse outputs or discrimination

We reserve the right, but have no obligation to, monitor the Service, and 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. We may disclose any information necessary or appropriate to satisfy our legal obligations or to protect Finmo or its customers or users.

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 do not 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. Our Service is used to process and store some of your and your Client’s personal information, including through artificial intelligence tools. Finmo acknowledges and agrees that between you and Finmo, you are the owner of and have exclusive rights, title, and interest in and to your data. Finmo does not gain any ownership or use rights in such data other than as set out herein. You are solely responsible for the accuracy, quality, integrity, legality, reliability and appropriateness of your data and your Client data, and the processing of such Client data through the artificial intelligence tools offered within the Service. You will ensure that Finmo’s use of any Client data in accordance with these Terms will not violate the rights of any third party or any applicable laws.

Rights to Handle Data. You grant us a non-exclusive and transferable right to process your data and the data of your Clients (i) to enable you and your Clients to utilize the Service, (ii) to provide our Service (iii) as permitted by applicable laws, and (iv) to generate information derived from your and your Clients’ data and use of our Service, including, usage information, output, metrics and other data points which are not able to be reverse engineered to reveal your and your Clients’ identity (“Anonymized Information”). We will own all Anonymized Information and are free to use it for any purpose, including but not limited to improving our Service.

 

You agree that all personal data which is handled by us may be, without further required consent by you, disclosed to third-parties, such as Amazon Web Services (AWS), for purposes which serve our business requirements, including data processing, monitoring or storage, or for regulatory and legal purposes. We will handle personal data in compliance with applicable laws and as set out in our Privacy Policy.

Your Account and Customer Support. Finmo shall provide reasonable support for the Service as detailed on https://help.finmoapp.com/. To provide support services, we may need to use a feature that allows us to access your Account, your data and your 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. The Customer Success Team will be able to access all information that is available to the user and will troubleshoot issues as needed.

 

Granting this permission allows us to access your data 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 without your consent. 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 to provide other content regarding our business, including the Service (“Input”), you will do so without any expectation from us and we shall have a royalty-free, fully paid up, 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.

Rights in Clients’ Data. Apart from our rights in Anonymized Information, your Clients have rights in their personal data under applicable laws. We will process personal data in compliance with applicable laws, our Privacy Policy, and the End User Terms of Use.

Right to Modify Content. We may, in our sole discretion, offer you the ability to modify certain text blocks on our Website 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 blocks as further set out under “Release and Indemnification” herein.

 

Accuracy. Finmo may offer artificial intelligence tools within the Service for your use. Finmo does not guarantee the accuracy of any output generated by the artificial intelligence tools of the Service. Given the probabilistic nature of machine learning and artificial intelligence, use of the artificial intelligence tools in the Service may result in incorrect output, including factual hallucinations, that does not accurately reflect the action generated. You shall have full control of any output being applied or used, and you shall fully evaluate the accuracy and quality of any output before making any use of any such output.

 

Prompts. In consideration of the rights granted under these Terms, you hereby grant to Finmo a perpetual, irrevocable, royalty free, fully paid up and fully sublicensable license to use any prompts, instructions, queries or any other interaction with the Service entered by any user to generate or achieve a desired outcome from the Service (the “Prompts”) to operate and provide the Services. Finmo is hereby authorized to use anonymized versions of such Prompts to, namely but not limited to, modify, improve and develop additional features for the Service, further train any artificial intelligence tools within the Service, and incorporate such Prompts to any of the Service.

 

Decision Making Assistance. The Service is only designed to be used as a support tool by human personnel in charge of handling Applications. You covenant that decisions to be taken regarding Applications shall be made by you or another user in conformance with applicable laws, the terms of applicable contracts and internal policies. It is your responsibility to train users adequately. You or any of your users must not use the output generated by the Service as a material or substantial factor to assist in making or altering the outcome of a decision that has material legal or similarly significant effect on the provision, denial, cost, or terms of any Application, or where the use or misuse of the Service and the outcome generated by the Service could result in significant physical or psychological injury to an individual. You shall not consider any output to be and shall not use any output as a decision, prediction or recommendation issued by the Service.

In the Event of Conflict Between Your Rights and Clients’ Requests

As part of your Clients’ use of our Service, their personal information (as such is defined under applicable privacy laws), shall reside on our systems and our subcontractors’ systems. You are and shall be solely responsible for compliance with any statutory obligations concerning Client requests to exercise their rights under applicable laws (e.g., for access, rectification, deletion of Client personal information, etc.) If we receive a request from a Client to exercise their rights under privacy laws, including requesting to delete their data, we shall, to the extent legally permitted, promptly notify and forward the request to you. We shall reasonably assist you to the extent feasible in responding to these requests. 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 the Clients’ request.

Customization of Consent Agreements / Credit Request in Finmo for your Clients.

It is your responsibility to ensure you adhere to your company’s policies and applicable laws 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.

 

Beta Services

From time to time, Finmo may, at its sole discretion, make certain services available for you to try at no additional charge, which are clearly designated as beta, alpha, pilot, limited release, developer preview, non-production, evaluation, or by a similar description (individually or collectively, “Beta Services”). Finmo shall make such Beta Services available to you, and Finmo shall grant you a non-transferable, non-sublicensable, non-exclusive license to use Beta Services subject to these Terms. You shall only access the Beta Services for the purpose(s) described by Finmo. Beta Services are for evaluation purposes only, are provided as-is, and may not be supported by Finmo. Finmo reserves the right, in its sole discretion, to terminate or suspend the Beta Services or your access or use of them at any time without notice.

 

Your right to use the Beta Services shall commence on the date that Finmo makes such Beta Services available to you and will end on the earlier of either (a) the date the applicable Beta Services become generally available to others, or (b) termination of your access and use of the Beta Services by Finmo. As a result of your participation in the Beta Services, Finmo may utilize data collected from you and your use of the Beta Services, including other services, for any purpose, including but not limited to improving our Service.

 

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 Finmo, and Finmo 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 Finmo 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, RKT Pro, Onespan, Xactus and Intercom. Any breach of the terms of conditions of such third parties, whether identified herein or not, shall constitute a breach of these 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 communicate with you regarding the Service and you must ensure that you obtain all requisite permissions from your Clients for us 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 regarding the Service from us, and, in certain circumstances, from Third Party Vendors providing certain portions of the Service 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.

Disclaimers

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. TO THE EXTENT PERMITTED BY APPLICABLE LAW, 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

You agree to indemnify, defend and hold harmless Finmo, its officers, directors, employees, agents, successors and permitted assigns from and against any and all expenses, claims and demands, losses, costs, damages, actions, suits or other proceedings (“Claims”) including legal fees and disbursements, arising out of: (i) your use of the Service, including your violation of any of the provisions in these Terms and any modifications you make to any text blocks on our Website; (ii) allegation of facts that, if true, would constitute your breach of any of your representations, warranties, covenants or obligations under these Terms; (iii) negligence or willful misconduct by you or any third party on your behalf in connection with the use of the Service provided by us; (iv) any breach of our End User Terms of Use by your Client; (v) any disputes between you and your Clients, or (vi) our denial of a Client’s request to remove the Client’s personal information from our system where such Client request is contrary to your data retention policy.

 

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, OR OTHERWISE ARISING FROM OR RELATED TO THESE TERMS – 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 OTHERWISE ARISING FROM OR RELATED TO THESE TERMS; OR

(2) THE ACTS, OMISSIONS OR CONDUCT OF ANY THIRD PARTY WHICH INTERACTS WITH THE SERVICE, OR OTHERWISE ARISING FROM OR RELATED TO THESE TERMS IN THE PROCESS OF YOUR USE OF THE SERVICE, OR OTHERWISE ARISING FROM OR RELATED TO THESE TERMS.

 

EXCEPT AS PROVIDED IN THIS SECTION, FINMO’S AGGREGATE LIABILITY UNDER THESE TERMS SHALL NOT EXCEED YOUR DIRECT DAMAGES IN AN AMOUNT NO GREATER THAN THE FEES PAID BY YOU TO FINMO HEREUNDER DURING THE TWELVE MONTHS IMMEDIATELY PRIOR TO THE EVENT GIVING RISE TO LIABILITY.

 

ALL LIMITATIONS OF LIABILITY IN THESE TERMS APPLY: (1) EVEN IF ANY REMEDY IN THESE TERMS FAILS OF ITS ESSENTIAL PURPOSE; AND (2) REGARDLESS OF THE THEORY OR BASIS OF LIABILITY, AND WHETHER IN CONTRACT, TORT (INCLUDING WITHOUT LIMITATION FOR NEGLIGENCE), STRICT LIABILITY, MISREPRESENTATION, RESTITUTION, OR OTHERWISE.

 

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.

Except for the provisions set out in the Surviving Provisions clause, these Terms shall no longer be applicable to you if your Account is cancelled or terminated.

Upon termination of your Account (i) all rights, licenses and authorizations granted by us pursuant to these Terms shall immediately terminate, and (ii) we may disable all your Clients access to the Service.

Notwithstanding anything to the contrary in these Terms, with respect to information and materials then in our possession or control, we may retain any of your data in our backups, archives and disaster recovery systems until such data is deleted in the ordinary course and all such retained data shall remain subject to all confidentiality, security and other applicable requirements of our Terms. Finmo is under no obligation to store your data and may delete your Account and data immediately upon termination of your Account, or may keep your Account and your data following your Account termination, as required under applicable laws and our contractual obligations.

Filogix Marketplace Terms

If you use the Filogix Marketplace (as defined below) in connection with or as part of your use of the Service, 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:

 

1. 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 Applications via the Filogix Marketplace.

 

G. “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.

 

2. You hereby agree that:

 

A. 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. You shall 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 an Application to one Lender only, for acceptance or rejection and, only after an Application or commitment is rejected, may an 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 an Application from any one borrower, provided, however, an 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 Applications;

 

F. You shall 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. You shall 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. 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. 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.

 

Our Terms May Change

We reserve the right, at our sole discretion, to amend these Terms at any time.

If our Terms are modified, we shall post the amended Terms on https://www.lendesk.com/terms-finmo. Although we shall take reasonable steps to notify you when such changes are made, you are expected to check our Terms periodically for any amendments. Your continued use of our Service following such notification shall constitute your affirmative acknowledgement of these Terms, and your agreement to abide and be bound by our Terms, as amended. If at any time you choose not to accept our revised Terms, including following receipt of notification of any modifications made hereto, then please do not use the Service and as applicable, terminate your Account.

 

Governing Law

These Terms and any action related thereto shall be governed by and construed in accordance with the laws of the Province of British Columbia and the federal laws of Canada applicable therein, without regard to conflicts of law principles. The U.N. Convention on Contracts for the International Sale of Goods will not apply to this Agreement.

 

Dispute Resolution

All disputes arising out of or in connection with these Terms, or in respect of any defined legal relationship associated therewith or derived therefrom, shall be referred to and finally resolved by arbitration administered by the Vancouver International Arbitration Centre (VanIAC) pursuant to its applicable Rules. The place of arbitration shall be Vancouver, British Columbia, Canada. The number of arbitrators shall be one. The language of the arbitration shall be English. Notwithstanding the foregoing, Finmo may seek and obtain injunctive relief in any jurisdiction in any court of competent jurisdiction and you agrees that these Terms are specifically enforceable by Finmo through injunctive relief and other equitable remedies without proof of monetary damages.

 

Quebec Waiver

If and to the extent applicable to you, you hereby waive any rights you may have pursuant to articles 2126 and 2129 of the Civil Code of Québec and acknowledge that your sole rights and recourses with respect to termination of these Terms are those set forth in the Term and Termination section.

 

Severability

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.

Assignment

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

The headings, captions and summaries in these Terms are for convenience only and in no way define or describe the scope or content of any provision of these Terms.

Notices

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”. “process” means to 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.

Surviving Provisions

Only the clauses in relation to Representations, Warranties and Covenants, Rights and Ownership, Permission for Communication, Release and Indemnification, Liability, Governing Law, Arbitration, and Surviving Provisions in these Terms shall survive following any termination or expiration of your Account.

Entire Agreement and Understanding

These Terms constitute the entire agreement and understanding between you and Finmo. No other communication, written or oral, with respect to the subject matter of our Terms shall apply.