iSelectSM Components

The right technology delivers the right order. Automatically.

ProductSelect^SM

• Loan amount (loan amount ranges)
• Loan-to-value (LTV)
• Sales price range
• Loan Program (lender-defined)
• Property geographic area
• Credit score
• Underwriting decision and recommendations
• Unlimited user-defined fields

ProviderSelect^SM

Intelligent provider selection incorporates sophisticated decision logic (based on key provider attributes) and uses that logic for the selection and management of settlement service providers. ProviderSelect ensures that each lender makes the best possible provider choice, based on the criteria they set. If the provider isn't available, for whatever reason, ProviderSelect automatically routes the order to the next available provider based on the lender's criteria and rules.

Vendor attributes considered by ProviderSelect include:
• Quality and pricing
• Vendor availability
• Product turn-time
• Service level agreements
• Provider volume capacity 
• Product Coverage

DecisionSelect^SM

A growing number of mortgage lenders now base vendor management decisions on complex methodologies. For the more advanced vendor management and strategic sourcing-based organizations, RealEC has introduced the next generation of vendor decisioning tools. DecisionSelect introduces a whole series of unique and innovative methods to enhance vendor management.

• Real time scheduling – Through the use of the DecisionSelect tools and close collaboration    with the lender’s available vendors, lenders can track the vendors’ availability windows for    inspections and closings and schedule appointments in real time at the point of sale.

• Vendor grouping and tiers – Lenders can define specific groups and tiers of vendors based    upon key loan characteristics. This allows lenders to configure groups based upon loan    programs, loan and property types, branch offices or any other defined set of criteria.

• Provider qualification rules - Through the use of the provider qualification tools, the    lender can classify distinct groups of providers assigned by pre-defined loan criteria.

• Exclusionary rules - By applying rules, the lender can establish a granular level of filtration    that prevents orders that fail to meet the defined criteria from being delivered to a specified    provider.

• Opportunity cost allocation – This enables lenders to allocate orders by percentage of    opportunity instead of percentage of actual orders. This model allows the lender to reward    providers with more flexible program requirements or greater coverage areas. 

Let RealEC and iSelect help you super-charge your vendor management!