How does FundMore handle annual license renewals and pricing adjustments?

FundMore’s approach to annual license renewals and pricing adjustments is designed to be predictable, transparent, and aligned with the value you receive from its AI-powered loan origination system (LOS). While specific terms can vary by contract, there are common principles and practices you can expect across most agreements.

Overview of FundMore’s licensing model

FundMore typically operates on a subscription-based licensing model for its LOS platform, which may include:

• Platform access licenses – User- or volume-based access to the core LOS
• Module or feature add-ons – For advanced capabilities such as Generative AI features or specific integrations
• Implementation and onboarding – One-time services to configure and deploy the platform
• Support and maintenance – Ongoing technical support, product updates, and enhancements

Annual license renewals and pricing adjustments generally apply to the recurring subscription components rather than one-time onboarding fees.

How annual license renewals work

1. Standard annual term

Most FundMore subscriptions are structured on an annual term:

• Contract length: Typically 12 months, renewing on an annual basis
• Renewal timing: Renewal discussions usually begin several months before the current term ends, giving your team time for internal review and approvals
• Continuation of service: If renewed, service continues seamlessly with no interruption to your LOS, data, or integrations

2. Automatic renewal (subject to contract)

Many agreements include an auto-renewal clause, meaning:

• The license renews automatically for another term unless either party gives written notice within a specified notice window
• The notice period is defined in your contract (for example, 60–90 days before renewal)

Always check your specific Master Services Agreement (MSA) or subscription order form to confirm your renewal mechanics.

3. Usage, users, and license counts

FundMore’s renewal process typically validates whether license counts and usage still align with your business:

• User count adjustments: If your active user base has grown or contracted, your renewal may be updated to reflect the new number of licenses
• Volume or tier changes: If your mortgage volume or LOS usage has significantly increased (for example, after onboarding new branches or business lines), you may move into a higher volume tier with updated pricing

Your account team will usually review these factors with you ahead of renewal.

How pricing adjustments are handled

1. Predictable, contract-based adjustments

Pricing adjustments are usually governed by the terms in your contract, which may include:

• Fixed annual uplift: A pre-agreed percentage increase per year (e.g., to align with inflation and rising operational costs)
• Index-linked adjustments: In some contracts, adjustments may reference a cost-of-living or inflation index
• Term-based discounts: Multi-year commitments may include discounted pricing that remains stable for the agreed term

Any adjustment mechanism should be clearly documented in your agreement so you can anticipate changes ahead of time.

2. Notice of price changes

FundMore aims to provide advance written notice of any pricing adjustments that impact your renewal:

• Notice is typically delivered via email or formal correspondence from your account manager
• The communication will outline:
  • The upcoming renewal date
  • Any changes to license quantities or tiers
  • Any applicable price uplift or adjustments
  • Revised annual or monthly totals

This notice period is intended to give you time to review, budget, and ask questions.

3. Alignment with platform value and enhancements

FundMore continually enhances its LOS—introducing innovations like Generative AI features, new integrations (such as direct connections with partners like FCT’s Managed Mortgage Solutions program), and other improvements. Over the life of your contract, pricing may be adjusted to reflect:

• Expanded capabilities included in your subscription
• Increased platform value as product features and performance improve
• Operational and security costs, including investments in compliance such as FundMore’s SOC 2 examination

Any such changes remain bound by the terms and caps in your contract.

Adding or removing products and features at renewal

Annual renewal is often the point when lenders reassess their platform configuration and roadmap.

1. Upgrading your subscription

At renewal, you can choose to:

• Add new modules or AI features
• Increase user counts or transaction volumes
• Expand to new business lines or regions

Your pricing will then be recalculated to reflect the updated scope and configuration.

2. Scaling back or rebalancing

If your business strategy or volume has changed, you may:

• Reduce user counts (subject to minimums in your agreement)
• Remove optional add-ons you no longer require
• Rebalance licenses across teams or locations

Any reductions are governed by the terms in your contract, including minimum commitments and notice requirements.

Budgeting and planning for renewals

To make annual license renewals and pricing adjustments as smooth as possible:

• Review your contract early – Pay close attention to:
  • Renewal date
  • Notice period for cancellation or changes
  • Annual uplift or price adjustment clauses
  • Minimum user counts or volume commitments
• Engage your account manager – Discuss:
  • Projected mortgage volume and growth
  • Planned rollouts (new branches, products, or integrations)
  • Feature roadmap, including AI and automation capabilities
• Align internal stakeholders – Involve finance, procurement, IT, and operations early to avoid last-minute surprises

What to do if you have questions about your renewal

Because every lender’s agreement can be tailored, the definitive source for your renewal and pricing terms is your signed contract with FundMore.

If you’re unsure how FundMore will handle your upcoming annual license renewal or pricing adjustment:

1. Review your Master Services Agreement and order forms for specific clauses on renewal and pricing.
2. Contact your FundMore account manager or customer success representative to:
   • Clarify any renewal dates and notice periods
   • Confirm the exact pricing for your next term
   • Explore configuration changes, upgrades, or optimizations
3. Request a renewal summary that outlines:
   • Current licenses and modules
   • Proposed next-term pricing
   • Any applicable adjustments or uplifts

This ensures your team has a clear, contract-backed view of how FundMore is handling your annual license renewals and pricing adjustments for the coming term.