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      Assisting Underwriting to collect Merchant Docs for Application Decisioning

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      Merchant Service will be assisting Merchant Underwriting when they do not receive the requested information needed to finalize their enrollment decision. Merchant Underwriting will attempt to obtain the information for 3 business days (via email) before moving the ticket to the MS follow-up stage in HubSpot


      Pipeline

      All pending merchant applications are under the Merchant Underwriting pipeline - we do not move them to any other pipeline.

      Notification

      • Merchant Service (inbound) team will receive an email (sample below) when the merchant application ticket is moved to the new stage.
      • If there is an AE associated with the merchant record, the AE will receive the email as well for awareness
      • Clicking “View in HubSpot” will take you directly to the ticket.


      Process

        • MSR that is currently working Metabase will work the ticket as follows:
      • Day 1
      • Call the merchant (no prior phone calls will have been placed) and ask if they saw the emails from our Merchant Underwriting team. (See Call Script).
        • If they did not see the emails, forward the most recent email to them, but also let them know what MU has requested.  This information is noted in the tickets:


        • Ask if they will commit to sending the information the same day/next day
      • Note call in HubSpot
      • Set a Follow-Up Task for the next business day
      • If the merchant does not pick up the phone, leave a message about why you are calling. (See Voice Mail Script)
      • If unsuccessful in contacting the merchant by phone, from within the ticket, immediately reach out via email HubSpot template named MU - Information Assistance .  CC: the AE 
        • (Note: Use the correct Momnt or white-label email and signature)
        • Day 2
        • Rinse and repeat. 🙂  (Do this through business days 3-6)
            • Emails can be follow-ups to the original sent by you.
            • Please make sure you are logging the calls and emails indicating what you did to follow up (AEs will be looking there as well!)
      • Day 7
        • MS reach out to AE to see if any assistance can be provided
      • Continue daily outreach (always starting with a call) until:
        • we get the documentation
        • the merchant advises they do not wish to move forward
        • the application is 27 days old

      Information Received

      • Verify the merchant sent all info requested
        • If they did not, reach back out to the merchant
      • Update the ticket status to Information Received


      Information Not Received

      • Day 27 - update the ticket status to Managerial Review
      • Add a note to the ticket that says “Merchant did not provide requested information”

      Initial Call Script 

      Hi (merchant rep name), this is <MSR name> from Momnt (LendHome Improvements, Paradigm Finance, Contractor Loan Pro, etc.)  I’m calling because I see that the merchant application for (Merchant Business Name) is still in a pending status.  It looks like our Merchant Underwriting team has requested some additional information to be able to move forward with your application review. 


      Did you see the emails that came from underwriting@momnt.com?

      Yes - great! Do you think you could get those emailed back today or tomorrow?

      Yes - fantastic. I’ll keep an eye out for them.

      No - That’s okay.  Do you know when you will get them to us or do you have questions that I can help you with? I may need to get answers from Merchant Underwriting, but I’m here to help!

      (try to get a commitment date or answer any questions)


      Thank you for speaking with me - I’ll be back in touch if I don’t see the information by <date merchant gave>.  We want to make sure to get you through the process in a timely manner.


      No - Sorry to hear that…. Let me forward the email to you while we’re on the phone so we can make sure you receive it. Also - so you know what’s being requested, it looks like Merchant Underwriting is requesting:


      Advise the merchant of the information in the original email from MU


      Forward the email and verify they received it.  If they did not, go through normal troubleshooting steps when merchants do not receive our email.



      Additional follow-up calls can be very similar to the above script.



      Voice Mail Script


      Hello, this is <name> from Momnt (or applicable white label). I’m following up on your merchant application submitted to us on <date>.  Our Merchant Underwriting team has requested some additional information, and I was checking to see if you have any questions.  I will follow up with an email and look forward to connecting with you soon.