VendorRisk for mortgage lenders and servicers
Vendor management software for mortgage lenders and servicers
A lender or servicer can rely on hundreds of vendors, from appraisers and title companies to law firms and property preservation companies. VendorRisk keeps every one of them inventoried, reviewed and documented for your regulators and investors. Mortgage companies have relied on it since 2013.
- Plans from $8,000 per year
- Unlimited users
- No long-term contract
What a mortgage vendor program has to handle
Hundreds of vendors across lines of business
One register for every vendor, each with a risk level and an internal owner, so each department stops keeping its own list.
Due diligence the vendor completes
Email a questionnaire and have the vendor answer and upload documents in a secure guest portal, with no back and forth by email.
Licenses, insurance and contracts that expire
Collect certificates of insurance, licenses and contracts, and get alerted before they lapse.
Risk tiers that focus your effort
Assess each vendor's risk so your oversight goes to the vendors that matter most, such as those with consumer contact.
Consumer complaints, tracked to resolution
Log, assign and resolve every complaint with the documentation trail your regulators will ask to see.
Performance and on-site reviews
Review vendors against their SLAs on a schedule, and record on-site visits and their findings.
Built for volume
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Do it once, not once per vendor
Create reviews or send requests to a whole set of vendors from a filtered report, and schedule them to recur. Bulk actions → -
Reports for regulator and investor audits
Build detailed and summary reports across vendors, contracts and reviews, and export them to Excel or PDF. Reports → -
Partners who know mortgage
Lenderworks and HQ Vendor Management deliver managed vendor oversight for mortgage companies on VendorRisk. Managed services →
“I came from a large bank environment where the tools were cumbersome and changes took days to weeks: now I can customize or extend a report or dashboard in minutes.”
Common questions
- Which modules do mortgage companies usually start with?
- Most start with vendor management, due diligence reviews and risk assessments, which are part of the $8,000 starting price along with contract management. Performance reviews, incident tracking and complaint tracking can be added later.
- We have more than a thousand vendors. Does pricing scale?
- Yes. Pricing is published by vendor tier, up to 5,000 vendors, and by the modules you choose. There are no per-user fees.
- Can our vendors complete reviews themselves?
- Yes. Vendors answer questionnaires and upload documents through a guest portal on your VendorRisk site, and can save and resume.
- Can someone run vendor oversight for us?
- Yes. Two of our managed services partners, Lenderworks and HQ Vendor Management, work specifically with mortgage companies.
Also see
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