Vendor Management. Simplified!

No lender wants to perform vendor management, but the truth can’t be avoided that it’s required -- and if not done right, could cost a lot of money. We make it easy. With cutting edge technology, we do the heavy lifting:

1. Gathering information and documentation in a centralized location (so when a regulator asks you where that fully executed contract is or the most recent E&O insurance, you have an answer)
2. Streamline workflow management so you can review our comprehensive assessments and know what your vendor risk is for each vendor, and
3. Automate notifications such as due diligence, risk assessments, performance and contract renewals…so you don’t get stuck in an auto renewed contract that your team forgot to terminate. Cha-ching…money saver right there.

How do we get started? Easy as 1-2-3-LAUNCH!

• Step 1: Assist you in determining who your core vendors are and establish the proper level of oversight. Don’t worry, if you don’t have a list of vendors, we’ll take your Accounts Payable list and go through your vendors together.
• Step 2: We set up your own license of our technology and program it to your liking, such as approval committees, workflows, and user controls.
• Step 3: Load our fully, attorney-vetted and constantly updated questionnaires (Tier 1, Tier 2, Tier 3, + specialized questionnaires such as AMC, Settlement Agents, Closing Attorneys, and more) to customize the review approach.
• Step 4: Launch the program and start vendor managing.

Some of the areas we assess and analyze so you don’t have to:

1. Compliance: Internal controls related to consumer privacy issues, including systems controls, disaster contingency plans, and maintenance of documents/information containing consumer’s non-public private information.
2. Financials: Analyze the financial strength of your vendors against our proprietary scoring model.
3. Contracts: review vendors contract against 20+ key provisions you should have in every contract.
4. IT: Cybersecurity policies, SOC audits, business continuity plans, disaster recovery plans, and more.

Prefer a self-managed approach? Purchase your own license and set it up yourself or leverage our power users to set up your own progam. Choose from the software modules below to support your vendor management program.

1. Vendor & Contract Management: Track key details, receive reminders, and upload critical documents.
2. Risk Management: Automate risk assessments and assign risk levels.
3. Due Diligence: Collect vendor information efficiently and ensure compliance.
4. Performance Reviews: Track service quality, SLA violations, and incidents.
5. Incident Tracking: Document vendor incidents for review and contract negotiations.
6. Vendor Selection & IT Asset Management: Track vendor selection processes and monitor deliverables.

Leverage consulting services to build a robust internal vendor management system, optimized for compliance and efficiency. With decades of mortgage industry experience, we assess your current operations and customize recommendations tailored to your needs. We’ll create policies, improve workflows, and ensure compliance with federal guidelines.

Strengthen your relationships with lenders through our Vendor Due Diligence Program. We evaluate your management, policies, financials, disaster recovery plans, and more against industry best practices so you can streamline and pass more client vendor management reviews. Our comprehensive reports provide transparency and build trust with your clients.