The days of manually pulling comps and wasting hours trudging through borrower documents is over.
The Blooma platform serves as a digital underwriting assistant by automating the collection, aggregation, and analysis of deals to help lenders determine the right asset valuation and deal attractiveness with minimal human interaction. This includes asset, borrower, and financial analysis, as well as loan portfolio management, and tracking and auditing of loans over time. The platform is primarily driven by Blooma’s artificial intelligence analysis and scoring of each deal according to the lender’s predefined lending profile.
Blooma’s AI can read an offering memorandum, automatically pull relevant comps, read borrower documents, spread a borrower’s cashflow/liquidity, and analyze an asset’s potential LTV in a matter of minutes. Additionally, Blooma can integrate with existing LOS Systems, so lenders do not have to change their current user interface. The Blooma platform will simply streamline the data that underwriters are already manually entering into the existing LOS system.
As of late, commercial lenders have been busier than ever juggling everything from CRE portfolio auditing and refinancing to having all hands on deck processing PPP applications. Blooma’s focus on digital loan portfolio auditing and analysis against current market conditions has resonated with lenders as they work to figure out how current conditions impact original loan parameters. In response to the COVID-19 pandemic, Blooma is also launching portfolio stress testing, not only for each individual deal in the lender’s portfolio, but also for the entire loan portfolio. Users on the platform can stress test their portfolio by manipulating aspects of each deal, such as cap rate or vacancy, to assess the impact of an economic downturn on their portfolio. Once a deal has been originated, Blooma is continuously updating market data and deal scores based on the most current information.
In summary, Blooma’s technology automates 80-90% of the time-consuming data entry aspects of the commercial real estate underwriting process. Imagine a system in which originators can click a few buttons to analyze the asset and borrower and produce an LOI or credit memo in minutes instead of days. Blooma is bringing the commercial lending sector into the 21st Century by streamlining the analysis of assets and borrowers with the power of AI.