New Features:
- System Design Update
- Blooma has updated the design and layout of the site to provide a more intuitive user experience. All site navigation menus can now be found at the top of the screen of any page, and Blooma has also added a home button on the top left of the page, allowing users to quickly navigate to the site locations they are looking for.
- Blooma has also updated the design of the individual deal pages, allowing users to navigate to all sections of a deal they are working on, in a more intuitive manner.
- Edit Pages – Blooma has added the ability for users to open and view a side-by-side document preview screen when editing any page in the system. This is a useful update that allows users to reference uploaded documents when completing sections of a deal within the system.
- Deal creation
- Improved Deal Creation and OM Parsing – Blooma has continued to improve on the automated OM/Executive Summary parser which is now accompanied by an intuitive deal creation wizard. The improvements to the AI-based parser and deal wizard result in faster uploads and more accurate parsing of the data within the files. Deals are able to be created with minimal user input, but the system still allows users the flexibility to make changes or review in the OM in full. Collateral image parsing from the OM/Executive Summary has also been improved within the current release.
- Asset Analysis
- Collateral Analysis
- New to the collateral valuation section is the ability for users to select between two sources of collateral revenue when calculating the proforma profit and loss/ cashflow for operating properties. Within the proforma cash flow table, users can now select between 1) the proforma rental revenue determined by the Blooma returned rent comps, or 2) the “actual” rental revenue figure which has been uploaded into the system. Once either revenue source is selected, users are able to add additional income and expense line items within the proforma cash flow model to determine a final proforma income valuation for the collateral.
- An “actual income valuation” has been added as a field for each collateral property on a deal. The actual income valuation is based on the NOI from the actual P&L for an operating property, which is then divided by a user defined cap rate. The cap rate can consist of the market cap rate Blooma automatically calculates from market comps, or can be manually adjusted by the user.
- Component Valuations
- Bulk edit comps – Blooma has made it faster to add and remove multiple comps at one time. Page and data refreshes will now be completed once changes to comp sets have been made by users in aggregate.
- Enhanced map view – users are now able to add and remove comps in bulk directly from the map view. This provides users with an additional method of quickly reviewing and confirming comps which are included in the comp set for a deal.
- Proforma rent roll - Users are now able to review the proforma rent roll table as determined by the returned rental comps directly from within the rent comps tab. Users can see the proforma $ rental revenue/ unit/ month, as well as the total monthly revenue the subject property could achieve based on the returned rent comps.
- Collateral Analysis
- Borrower Analysis
- Bulk Edit Company Details – Users are now able to edit all sections related to a “company” contact at once within the specific Deal or Contacts page.
- Scoring
- Real time Score updates – Blooma has improved the deal scoring feature to update scores in near real time based on changes to the deal. This allows users to review score changes as collateral, borrower, and financial fields are all updated within the system.
- System Responsiveness
- Blooma has improved the stability and efficiency of the system. This has resulted in faster system load times, and improved user interactions with the addition of new system graphics to indicate to users what workflow the system is processing in the background.