Vendor Management

Are your business partners and third party vendors compliant?  Are their licenses active?  First American's Vendor Management Suite can help.  It's a cloud-based, automated solution that reduces the time, cost and risks associated with comprehensive counterparty oversight and management.  The 24/7 monitoring provides real-time alerts - reducing your counterparty risk.

Efficient Vendor Oversight VMS

  • Ongoing Monitoring with Push Notifications
  • Vendor Database Management
  • Alert Clearing & False Positive Tagging
  • Flexible Review Scheduling
  • Automated Reports
  • High-Volume Bulk Processing
  • Comprehensive Reviews
  • Full Automation
  • API Integration

The Vendor Management Suite platform can be licensed in full, operational usage or alternatively, it can be integrated into existing business systems already in place to provide enhanced and automated analytics and/or monitoring. 

For more information on our Vendor Management Suite or other compliance solutions, please contact us.

 

Due Dilligence

  • Risk Mitigation
  • Vendor Recruitment
  • Vendor Screening
  • Contracts, Applications & Onboarding

Due Diligence Services

Counterparty Reviews

  • Identity Review
  • Phone & Address Verification
  • NMLS License Verification
  • Appraiser License Verification
  • Bankruptcy Search & FICO Score
  • Liens & Judgment Records Review
  • Civil Court & Criminal Court Records Review
  • Corporate Affiliation Search

Contracts, Applications & Onboarding

  • Load and store applications via the system.
  • Store vendor contracts in the Document Storage. Audit trail and activity logging create a system-of-record for the relationship with the vendor.

Watchlist Reviews

Search for a person against several watch lists, one of the most comprehensive sets of data available.

  • Industry
  • Government
  • Lender's own exclusionary list
  • First American's National Fraud Protection Database

Monitoring

  • Vendor Profile Maintenance
  • Compliance Management

Monitoring Services

Compliance Management

  • Automatically monitor the vendors' licenses, reviews and verifications on a round-the-clock basis
  • Push notifications alert you of any issues
  • Evaluation, risk assessment, classification and monitoring of lender counterparties to remove compliance risk and reduce inherent third party risk

Vendor Profile Maintenance

  • Easily see all vendor profile information
  • Quickly upload all vendors into the system via Excel spreadsheet and an individual account is created
  • Update phone, email, contacts or address in the vendor's profile
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