Simplify your property due diligence and compliance with this collaborative work space connecting policy, people and information!
The EDR lender Portal Improves Workflow, Decision Making
When evaluating any collateral, a property’s value and condition are key to evaluating and managing risk. The EDR Lender Portal streamlines the process of assessing the value and condition of your collateral.
The EDR Lender Portal allows you to configure and embed your bank policy into the workflow so your staff is not guessing at what level of due diligence is necessary for each transaction. Each loan goes through your bank’s policy matrix filter so there is no second guessing what needs to be done to comply with bank policy. Compliance is automated.
The EDR Lender Portal makes it easy to manage the procurement of services. You can issue requests for bids or directly tasking vendors. Automated notifications provide for an efficient workflow, as alerts are sent to the proper staff when bids or reports are received, or any status has changed. The ability to standardize reports received from vendors makes it fast and easy to review and make decisions. In the end, you have a complete audit trail for each transaction, making it easy to document compliance.
Appraisal Management and Procurement
As an appraisal management tool, the EDR Lender Portal allows you to set process controls to ensure compliance with appraisal policy and banking regulations. You can maintain your bank's list of qualified appraisers, set standards for quality and performance, and track their performance. Enforce your appraisal policy and procedures across the enterprise, at the home office or remote locations.
ü Set appraisal policy and procedure
ü Manage and control vendor selection
ü Streamline bid solicitation and review
ü Monitor performance
ü Comply with rules, regulations and policies
Quick Screen Properties for Environmental
With the Portal’s Quick Screen, instantly screen properties to identify any environmental concerns, plot their location in relation to the target property, and identify any issues through color coded reference to the category of environmental concern. Further investigate the property with a simple mouse click to generate an Environmental Risk Rating, an algorithm-based opinion that identifies low or elevated risk.
Additional services can be procured, including Phase I & II environmental site assessments or EDR’s LoanCheck® Plus, a comprehensive tool for searching environmental records and historical usage associated with a property (meets SBA’s Records Search with Risk Assessment requirements).
Unlimited storage capacity helps you organize and archive all loan specific documentation in one place, and makes accessing this data easy come audit time. Organize your documents by portfolio, loan type, size, loan officer or other criteria. Also serves as a company filing cabinet for everything from operating procedures, policies and scopes of work.
Improve decision making by having access to a variety of reports, giving you the information you need, when you need it. Accesses to historical archives allows for the forecasting of trends and tacking of performance over time.
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