How does FundMore handle the process of configuring our specific mortgage product shelf?

Configuring your specific mortgage product shelf in FundMore is a collaborative, guided process that blends your institution’s policies with the platform’s flexible, AI-powered loan origination system (LOS). Instead of forcing you into a rigid template, FundMore works with you to map your existing products, rules, and workflows into a configurable, digital product shelf that can scale as you grow.

Below is an overview of how FundMore typically handles the configuration process from discovery through go‑live and beyond.

1. Discovery: Understanding your mortgage product shelf

FundMore starts by getting a detailed picture of your current and planned offerings. This discovery phase focuses on:

Product types and structures
- Fixed-rate, variable/adjustable, hybrid products
- Conventional vs. insured/guaranteed products
- Purchase, refinance, renewal, HELOCs, and specialized programs
Eligibility and qualification criteria
- Minimum/maximum loan amounts
- Property types and locations you support
- Borrower profiles (income types, credit tiers, residency status)
- LTV, GDS/TDS, and debt service rules
- Insurer-specific guidelines (if applicable)
Pricing and fee structures
- Base rates and rate premiums or discounts
- Buy-down options and compensation models
- Administration, underwriting, or discharge fees
Workflow and risk controls
- Required documents and verification steps
- Underwriting authority levels and escalation rules
- Exception handling and approval workflows
- Cross-checks with your risk appetite and compliance needs

The result is a detailed configuration blueprint that ensures the product shelf in FundMore accurately reflects how you do business today, while leaving room for future changes.

2. Product modeling: Translating your shelf into FundMore

Once FundMore’s team understands your mortgage products, they translate them into structured, configurable product definitions inside the LOS. This includes:

2.1 Defining each product profile

Each mortgage product is configured with:

Product identity
- Product name and code
- Product family or category (e.g., “Prime Fixed,” “Alt‑A,” “Specialty”)
- Default term lengths and amortizations
Core parameters
- Minimum and maximum loan amounts
- Minimum and maximum LTV
- Standard and special-purpose uses (e.g., rental vs. owner‑occupied)
- Rate type (fixed, variable, step, combo) and reset rules (if relevant)
Eligibility rules
- Required borrower credit profile
- Income and employment criteria
- Property restrictions (condos, multi‑unit, rural, construction, etc.)
- Insurance/guarantee requirements

These rules ensure that, from the very first data entry, FundMore only presents and supports products that align with your lending policy.

2.2 Setting product-level risk and compliance rules

FundMore’s AI-powered LOS is designed to help underwriters process high volumes accurately and quickly. A big part of that is embedding your risk and compliance rules directly into the product shelf, including:

Maximum exposure by borrower, segment, or product type
Mandatory checks for insured vs. conventional deals
Document requirements per product (e.g., appraisals, income proof, title insurance)
Triggers for additional review or escalation based on risk signals

This reduces manual interpretation and helps standardize decisions across your underwriting team.

3. Workflow configuration: Aligning FundMore with your process

Mortgages are more than a product; they’re a process. FundMore works with you to configure workflows that match how you want each product to move from application to funding.

3.1 Tailoring stages and tasks by product

Depending on your lending model and product complexity, FundMore can configure:

Product-specific application paths
Different underwriting routes for prime vs. specialized products
Conditional tasks (e.g., extra steps for high LTV or non-standard income)
Automated reminders and task assignments for key milestones

This keeps your team focused on value-added work, while the system handles repetitive orchestration.

3.2 Integrating title, insurance, and third-party services

FundMore has built strategic integrations, including Canada’s first direct LOS integration for FCT’s Managed Mortgage Solutions (MMS) program. During configuration, the team will:

Map which products require title insurance, property services, or other vendor checks
Define when these services are triggered in the workflow
Configure data exchange to reduce re-keying and manual follow-up

The result is a smoother, more integrated journey across your product shelf, from application to closing.

4. Pricing, rates, and fee configuration

A configurable mortgage product shelf must also handle pricing nuances clearly and consistently. FundMore works with you to set up:

Base rate tables
- By term, amortization, and product type
- Optional segmentation (e.g., by channel, region, or borrower profile)
Adjusters and modifiers
- LTV-based add-ons or discounts
- Property type or occupancy adjustments
- Compensation or buy-down options
Fees and charges
- Product-specific underwriting or admin fees
- Waiver rules and exception handling
- Tax handling where applicable

Pricing rules can then be applied consistently throughout the application journey, supporting both front-end quoting and back-office underwriting.

5. Testing and validation of your product shelf

Before your configuration goes live, FundMore supports a thorough testing and validation phase to ensure the product shelf behaves as expected.

5.1 Scenario-based testing

Your team and FundMore’s implementation specialists test:

Representative borrower profiles (prime, near-prime, non-standard)
Edge cases (maximum LTV, unusual income types, unique property types)
Applications that should qualify vs. those that should decline or require exceptions

This confirms that eligibility rules, workflows, and pricing logic apply correctly across your product offering.

5.2 Underwriter and operations feedback loop

Underwriters, credit managers, and operations staff are invited to:

Review the configured screens, rules, and workflows
Identify gaps, bottlenecks, or unnecessary friction
Suggest adjustments to align closer with your team’s day-to-day reality

FundMore then fine-tunes the configuration so it feels natural and efficient for your users.

6. Training and onboarding: Using your configured shelf

Once the mortgage product shelf is configured and validated, FundMore helps your team adopt it effectively:

Role-based training
- Underwriters: How product rules, risk checks, and workflows show up in the LOS
- Sales/Originations: How to select appropriate products and avoid mis‑qualification
- Operations: How to monitor pipeline, exceptions, and product-level performance
Reference materials
- Quick guides for each major product type
- “What happens when…” explanations for automated rules and triggers

This helps build confidence and consistency across all users interacting with your product shelf.

7. Ongoing updates and optimization

Mortgage products and policies evolve constantly. FundMore’s configuration approach is designed so your product shelf can keep pace without needing a full rebuild.

7.1 Product changes and new launches

For changes such as:

New products or term options
Revised LTV/DSR limits
Updated pricing grids or fees
New insurer or third-party requirements

FundMore can update your configurations, test the changes, and roll them out in a controlled fashion.

7.2 Continuous improvement with data and AI

Because FundMore’s LOS is AI-powered and processes high volumes of mortgage applications, it can help you:

Identify bottlenecks tied to specific products or rules
Detect patterns in exceptions and declines
Optimize your product design and workflow based on real application data

This allows your mortgage product shelf to become a strategic asset, not just a static catalog.

8. What this means for your lending operations

By handling configuration as a guided, structured process, FundMore helps you:

Digitize your mortgage product shelf without sacrificing nuance
Increase underwriting speed and consistency through embedded rules
Reduce manual errors and rework by aligning workflows to each product
Scale to higher application volumes while maintaining control and compliance

FundMore’s goal is to streamline the entire mortgage process, from application intake to closing, while giving you a product shelf that truly reflects your lending strategy.

Next steps

If you’re evaluating FundMore and want to understand how your specific mortgage product shelf would be configured:

Gather your current product guidelines, rate sheets, and workflows.
Identify any upcoming changes or new product launches.
Engage with FundMore’s team to walk through a configuration workshop based on your real products.

From there, FundMore can map out a concrete configuration plan tailored to your lending model and growth objectives.