A submission is one attempt to send a deal to a lender. On the deal's Submission tab, BrokerPlus ranks your lender catalogue against the file and lets you choose who receives it - which lender, which product, and on a brokerage connected to Finmo, that rail's own picker in its place.
How Lenders Are Ranked Against the Deal
The list is ranked against the deal's own numbers, not alphabetically. BrokerPlus reads the loan-to-value, GDS, TDS, and how the file classifies for insurability, then checks that against each lender's prime, alternative, and CMHC-approved flags. A high-ratio deal - LTV over 80% - needs a CMHC-approved lender to score a strong fit; without one it is a mismatch. A deal with ratios over the 39/44 debt-service caps fits an alternative lender best, since a prime lender may decline it. Everything else that clears the caps scores strong on a prime lender. Each row states why it scored the way it did, and the list sorts strong fits first, then by the lender's lowest posted rate. A deal with no financials entered yet shows every lender as possible, in rate order only.
Picking a Lender and a Product
Search narrows the list once your catalogue runs past a handful of lenders. Expand a lender carrying more than one product to see them individually, each with its own term, rate type, and posted rate; picking a bare lender takes its cheapest priced product automatically. Selecting a lender creates the submission draft and opens it straight to the package builder - there is no separate step to start one first. If the catalogue looks out of date or turns up empty, press refresh to pull the newest lenders, products, and posted rates before picking.
Choosing a Lender on the Finmo Rail
A brokerage connected to Finmo submits through Finmo instead, and the picker changes with it. Finmo publishes no product routes - a product line arrives folded into the lender's name - so this is a flat list rather than lender-then-product. Lenders you have actually used come first, ranked by your funding record: submitted-to-funded once you have marked deals funded there, submitted-to-approved before that, and no percentage at all for a lender you have never tried, never a bare zero, which would read as a lender that never funds. A lender already carrying a submission on this deal is flagged so you do not send it twice by accident, and one under maintenance is flagged too.
Sending to More Than One Lender
Each lender you pick opens its own submission, numbered by attempt. A shortlisted deal can run several drafts side by side, one per lender, each with its own package and cover note - choosing a second lender never touches the first. Only one application on the deal actually submits, though: if you have forked a scenario, a star beside a submission's application name says which one it sends.
What to Do Next
- Curate the Lender Package to include and reorder the documents a chosen lender receives.
- Clear the Readiness Checks so the file is complete before you pick a lender.