Ownwell APIs use certain rules to decide which clients to import into Ownwell - and which clients to prioritize for import.
First and foremost, Ownwell APIs will always import clients based on soonest maturity.
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EG) if there are two clients "in line" to be imported - one is maturing in 2027 and one is maturing in 2030, it will prioritize and import the mortgage maturing in 2027 first.
Here are the other rules that determine which clients get imported:
The Application Status:
π In Finmo, clients must have an application status of "Funded".
π In Velocity, clients must have a status of "Funded and Awaiting Payment" or "Complete".
βThe Closing Date must be in the past: This is because we don't think it makes sense to send clients a report on their home until after they've moved in.
βThe Maturity Date must be in the future: Ownwell imports only active mortgages (i.e., mortgages that haven't matured).
βPayment Schedule: Ownwell currently does not import interest-only mortgages, as they are not supported yet.
βPayment Frequency: Ownwell currently does not import accelerated weekly or semi-monthly payment frequencies, as they are not supported yet.
βAll required fields must be complete in Finmo or Velocity: The following fields are necessary for a successful import...
Borrower details - required
Primary borrower first name
Primary borrower last name
Primary borrower email address
Household income
Subject property details - required
Use type (owner-occupied, rental, etc.)
Property type (detached, condo, etc.)
Original value (i.e. purchase price, estimated value, etc.)
Unit
Street number
Street name
Street type
Street direction
City
Province
Postal Code
The original mortgage details - required
Transaction type (purchase, refinance, etc.)
Closing date (must be in the past)
Original mortgage amount
Original mortgage rate
Original mortgage rate type
Term
Amortization
Lender
Optional but recommended
Primary borrower phone number
Primary borrower credit score
Subject property property taxes
Subject property Heating
Subject property condo maintenance fee
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Note: Clients imported into Finmo or Velocity via CSV uploads or deals pushed to Expert may lack some of this required information.
Important: A client import via API (Finmo or Velocity) is a snapshot in time.
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Once a client record is in Ownwell, any edits should be made directly in Ownwell. If you make changes in Finmo or Velocity AFTER the import, they will not sync to Ownwell.