Mortgage Stage Automation and Management

Brokeredge is designed to seamlessly update your mortgage stages by pulling data directly from your deal origination system. The automation mirrors your existing workflow, ensuring that deals move through the entire mortgage lifecycle with minimal manual intervention. However, you also have the flexibility to make manual adjustments and customize certain settings as needed.

Automatic Mortgage Stage Updates

• Automated Lifecycle:

  Mortgages are updated automatically from your deal origination system and updates the system with the latest information from the deal submission platform. Changes in Brokeredge do not push back to the submission platform.

  • Finmo - Finmo resthooks push most updates to Brokeredge simultaneously.  The system also checks for updates hourly for items not included in the resthook push.
  • Velocity - Velocity sends updates to Brokeredge whenever a deal stage changes.  Brokeredge also check daily for new deals created in Velocity in the event that Velocity doesn't push those updates.
  • Filogix & Scarlett - Brokeredge check the submission platforms hourly for deals that have been updated.  

Manual Adjustments and Additional Settings

Even with full automation, Brokeredge offers several options for manual intervention:

• Updating Mortgage Stages:

  You can manually move a mortgage to a different stage if necessary.

• Adding Business Partner Participants:

  To add roles such as real estate agents, lawyers, or other partners, scroll to the bottom of the deal page in the Mortgage Participants section and click Add New.

• Creating External Mortgages:

  If you need to manually create a mortgage (for example, one that isn’t automatically imported from Finmo, Scarlett DOS, or Filogix), use the manual creation option. These mortgages will be tracked by Brokeredge once entered.

• Refinancing Workflow Settings:

  The refinancing workflow targets mortgages in the Paid or External status. To exclude a mortgage from this workflow, toggle the Exclude From Refinancing Email Workflow option to On.

• Tracking Outstanding Conditions:

  Use the Outstanding Conditions section to manually track pending items. If you’ve enabled the Request Lawyer Info email workflow, selecting Send Request to Client will automatically email the client for their lawyer’s details. If you work with a preferred lawyer, Brokeredge can even suggest and add them automatically—contact support for setup.

Mortgage Stage Mapping Across Submission Platforms

While Brokeredge updates mortgage stages automatically, each submission platform may communicate stage changes differently. The table below provides a detailed breakdown of how each stage is derived for various platforms: