Vendor Management Made Easy

Compliant vendor management doesn’t have to be complex or expensive. It also doesn’t have to require detailed computer programs and fully dedicated resources. We’re mortgage bankers and understand first-hand what it means to run a mortgage business and, from to time, sweat payrolls and cash flow. That’s why we’ve created the RML Vendor Management Toolkit?, an end-to-end, easy to use solution that includes absolutely everything you need to implement and monitor vendors.

The RML Vendor Management Toolkit? includes the following:

• The Guide to the Vendor Management Toolkit?
      o A step—by-step instruction manual on using the Toolkit?
• The Vendor Management Policy Template
     o A complete vendor management policy that integrates the Toolkit? you can adopt or customize for your business model.
• Vendor Risk Rating Form
     o A short form to guide you in assigning an initial risk rating for all vendors
• Draft messaging to request information and documentation
• Vendor Information Forms
     o Tier 1 and Tier 2 Risk Vendor Form
     o Tier 3 Risk Vendor Form
     o Closing Agent Information and ALTA Best Practices Form
     o Appraiser Information Form
• Documentation Matrix
     o A matrix of suggested documentation based on the vendor risk rating
• Contract Checklists
     o Technical vendor contracts
     o Non-technical vendor contracts
• Risk Analysis Calculator
     o A proprietary model that enables you to score the vendor’s actual risk based on the submitted
       documentation and information and confirm or change the assigned risk category.
• Vendor Analysis Form
     o A form to analyze the received information and documentation in summary format to facilitate
        the vendor approval decision process as well as establish appropriate monitoring benchmarks
        or parameters.
• Vendor Incident Log (Word Format)
• Vendor Management Monitoring Control Log (Excel Format)

The Toolkit? also comes with initial support to guide you through the process and help you complete a test high risk vendor. In addition, telephone support for one (1) year together with automatic updates on forms or processes is also included.