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Release Notes May 13th, 2021

  

  • Reonomy Integration
    1. Blooma is now using Reonomy data to pull sales comps. This includes an asset subtype.
  • Deal Stress Tests
    1. For deals that are single collateral, there is a new tab on a deal called stress tests. This includes 3 kinds of stress tests
    2. Single- Variable test: “stress” different aspects of the collateral l (value, income, expenses, vacancy, and cap rate) in 2.5% increments to note when it breaks specific defined thresholds (max LTV, min Debt Yield, min, DSCR).
    3. Deal Break points: this will show the user by what percent a specific field can be negatively affected before it reaches the breaking point for one of the above defined thresholds
    4. Multi Variable Stress Test: User has the ability to review one of four stress tests where the test simultaneously alters revenue, expenses, vacancy, and cap rate. For the 4th option, the user can edit the amounts each field are affected.5-13_1.png
  • Lite Mode PDF-able
    1. Users can now print or save as PDF the lite mode view of the deal
      5-13_2.png
  • Display PFS debt service data on Person Cash Flow if it exists
    1. If a person has a PFS, the debt service data is displayed on the Cash flow, whether or not the Cash flow has populated tax return data.

  • Use $/Unit instead of $/SF on multi-family proforma Cash Flows
    1. For the collateral proforma P&L, with multi-family properties, users can now see the data in a $/unit view instead of $/SF
    2. User has ability to set this at the bank level

  • Ability to alert users of Issues
    1. Blooma now can add a popup alert if there are any issues in the platform.

  • When user selects rent roll revenue, vacancy is copied from Rent Roll
    1. On the proforma P&L, when a user selects to use the rent roll data instead of the rent comp revenue, Blooma now uses the rent roll vacancy and will update the revenue to assume 100% occupancy, and calculate the appropriate vacancy amount in the vacancy row.

  • No longer refreshing 3rd party data if deal is in pipeline
    1. For deals still in pipeline stage, 3rd party data is not updated so that the deal won’t keep changing during the origination process. Once the deal is originated, Blooma will resume pulling real time data to give users an up-to-date view of their property and the market.

  • Added Market vacancy field for use in scoring

  • Added pre-lease field
    1. For construction deals or properties that aren’t fully leased yet, users can populate the pre-leased field to be used in scoring and to display at the rent roll page

  • Track Tenant turnover based on rent roll data
    1. For deals with a rent roll, Blooma added a new field which calculates how many of the tenants (units in Multi-family, SF in commercial) have leases expiring during the duration of the loan term.
    2. This field is available for use in deal scoring
      5-13_3.png
  • Add Parking Ratio field at collateral
    1. Parking ratio is a new field that is auto-calculated on deal creation, but the user can edit the value in the edit collateral if they would like to update.

  • Added hotel flag
    1. For hotel deals, users can now assign the hotel flag to the hotel (in the edit component page)
    2. Blooma has created a predefined list of popular hotel chains; more flags will be added over time.

  • Added Hotel Service Level
    1. For hotel deals, users can now assign the hotel service to the hotel (in the edit component page)
    2. The three options are: limited service, full service, and luxury
      5-13_4.png
  • Bug Fixes
    1. Fixed revolving debt and installment Debt service calculations
    2. On land asset type, unit mix pulls lot SF instead of a null building SF
    3. SRE link on cash flow wasn’t linking to SRE page
    4. Files with the same name weren’t being classified
    5. Fixed more mapping issues on Tax return spreading
    6. Fixed bulk import file errors
    7. Cap rate on in-place P&L not rounding
    8. Fixed ability to bulk upload asset documents on new deal guide
    9. Fixed error where user couldn’t filter by owner when owner email has apostrophe
    10. Widened toggle on intelligent deal creation
    11. Fixed error where tax returns weren’t being parsed
    12. Removed SSN requirement when uploading SRE or PFS
    13. Fixed issue where commercial rent comp data disappeared
    14. Fixed error where user couldn’t edit in place rent roll
    15. Fixed issue where comps were not displayed in graph in lowest to highest price order
    16. Fixed error when trying to create hotel deals
    17. Fixed error where user couldn’t edit asking rent on manually created commercial rent comps

 

 

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