Finmo asks each borrower for signed consent to pull credit at the end of the application in their portal and creates a digitally signed consent document PDF.
What will the borrower see when being asked for consent?
Each borrower will see the consent displayed as a final step of their application. They are required to agree and check both boxes to continue. Once they agree, they have to click “Give consent” and the digitally signed consent document will be created. It will be dated and timestamped.
Note: If the borrower does not provide consent via their portal, you can request consent in the “Credit & liabilities” Application section through Finmo before pulling credit.
When you attempt to pull credit for a borrower showing "No credit pull consent", the following message will be displayed.
What if a borrower is not invited to the application but you require a consent to pull credit?
If you require consent for a borrower who is not invited to view the application, they can be invited to grant consent via email by another borrower on the application or by the loan officer.
How can a borrower request consent from another borrower who is not invited to view the application?
1. Click "Consent" on the left menu in the application portal. All borrowers will be displayed.
2. Select the borrower and click on "Send email request for consent". A request for consent will be sent to that borrower’s email.
3. That borrower will receive an email with a link where they can read and give consent to pull credit without signing into the portal.
How can a loan officer request consent from a borrower not invited to view the application on Finmo?
1. Click on the Application
2. Scroll down to the "Credit & liabilities" section of the application
3. Choose the borrower you'd like to request consent from via email
4. Enter an email address in the modal and the borrower will receive an email request to give consent.
Note: The email link to give consent will only be valid for 7 days. If the borrower hasn’t provided consent in that period, you will have to send the request again.
5. Once the consent is agreed to, you will receive an email letting you know the consent has been signed.
Where can I see if consent has been given on a loan?
The status of the consent for each of your loans will be shown on the loan dashboard.
None: None of the borrowers have given consent
Partial: At least one of the borrowers gave consent
Complete: All of the borrowers in the loan have given consent
You can also see each borrower’s consent status in the "Credit and liabilities" section of the application.
Once consent is received, you will see the timestamp and the option to download the consent PDF if you have enabled that function in the "Credit and liabilities" section of the application.
You can re-request the consent documents as many times as needed without having to give the borrower permission to edit the application.
Note: When consent is re-requested the old document will be replaced. You must remember to download the consent before obtaining a new one.
Should you require further help click the chat icon on your screen or send us an email supportus@lendesk.com.