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Release Notes November 19th, 2021

Nick Rice
  • Updated

New Deal Summary UI

  • Blooma has optimized the deal summary and made it more intuitive for its users; Deal Summary is now displayed as a 1-page view

    • All relevant deal data is nested within the Deal Summary with the most relevant information displayed

    • Detailed analysis is available through new hyperlinks

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  • Collateral Summary relocated to below Deal highlights

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  • Collateral Property Valuations reorganized into a new pop-up window that includes property details, all valuations, property risk factors, and map (with crime incidents)

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  • Quickly tab between different collateral or assets within the deal

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  • Sales Comparables and Rent Comparables data is now summarized on Deal Summary

    • Comparable management is accessed via pop-up window which opens a revamped user experience (more info below)

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  • Review Market Data directly from Deal Summary

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  • Review Multi-Variable Stress Test directly from Deal Summary with ability to view full Stress Test via pop-up window

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  • Deal Actions are now accessible via sidebar icons. Actions include: Edit deal details, add comment, download templates, view PDF-ready one-pager, view Deal history, view Deal Documents, and view Deal Creation Trail

  • Document Upload Center and Deal Task List relocated to convenient footer

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  • Redesigned Header Bar includes updated logo, smaller search bar, New Deal Creation via '+' icon, and quick links under user icon

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Comparables Revamp

  • Sales Comparables and Rent Comparables summary data is visible on Deal Summary

    • Removed average bar from list of comps in comps graph

  • Comparable Management has been revitalized into a single pop-up window view. Highlights include:

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    1. Quickly navigate between sales and rent comparables

    2. Search for specific comparables

    3. Filter comps based on property attributes

    4. View included and excluded comps in one list (with ability to hide excluded comps)

    5. Up to 100 comparables will now be returned

    6. Ability to view comparables by data source

    7. Added 2 more sort options for sales comparables: $/SF and $/Unit (multi-family only)

    8. Create a manual comparable

    9. View subject property details next to comparables for easy comparison

      • information icon will open unit mix for subject property

    10. View comps list side-by-side with map

    11. Added data source logo to each comparable

    12. Display APN on sales comparables

    13. View more information for comparable via information icon

    14. Add lot size to sales comparable information

  • Ability to refresh comparables with 2 options:

    • Maintain include/exclude comparable selections

    • Reset include/exclude comparable selections

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  • Improved data quality of comparables returned

    • Exclude sales comps with outlier $/SF data

    • Filter out comparables with bad data. Filters include: no sale date, no building size, placeholder building size (99,999 SF), no asking rent, and incomplete unit mix

Compstak Integration

  • Leverage Compstak data for rent comparables

    • Compstak will return up to 15 comparables for office, retail, and industrial assets

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Document Upload Center

  • Rent Roll and P&L files uploaded within a Deal Summary will now be processed with Intelligent AI

    • User will receive popup when file has successfully been sent to Intelligent AI

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  • Parsing will be reviewed for accuracy prior to being released to the user

  • User will receive email notification when data parsing is completed.

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Ability to Configure Blooma Defaults

  • Define defaults for Blooma environment

  • Defaults are maintained and updated by assigned Client Experience Manager

  • Configurations include:

    • Choose between using Schedule of Real Estate data or Schedule E Data to populate real estate data on person cash flow

    • Choose between using dollar per unit and dollar per SF on multi-family proforma cash flow expenses

    • Define default deal owner for deals not created in new deal creation

    • Assign the default rate information to all newly created deals

    • Assign a set of default fees to all newly created deals

    • Define default cap rate when market data is not available

    • Define default stress test values, including deal thresholds and custom stress test values

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Proforma Cash Flow Improvements

  • Removed ability to select rent roll as revenue source on Hotel Proforma P&L

  • Prevent users from accidentally deleting the vacancy line item from the proforma cash flow

  • Ability to enter an alternative gross revenue on the proforma cash flow

    • In addition to the current rent comp revenue and rent roll revenue, users can simply key in a manual value for the annual revenue of the collateral

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Deal Pipeline Updates

  • Added remaining loan term to deal pipeline

  • Searching by text on deal pipeline will automatically update pipeline statistics

  • Add borrower name to deal pipeline

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Bug Fixes/Other Improvements

  • Added Risk Rating Field

    • Available in portfolio stage

    • 1-8 scale (1 being the best)

    • Displayed on deal summary

    • Editable in edit deal details

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  • Loan Type is now a required field in new deal creation

  • Improved main deal image from Google

  • Cap Rate is now based on trailing 12 months market data

  • Fixed issue where Walkscore wouldn’t populate

  • Fixed issue uploading K-1 files to Blooma

  • Expanded Bulk Deal Import Template to also include loan ID and origination date

  • Fixed issue with inability to preview documents uploaded via intelligent deal creation

  • Fixed issue where parking ratio was unable to be saved if value was over 100

  • Fixed issue with P&I payment structures; amortization term must be greater than loan term

  • Increase character limit to 5000 characters in deal and collateral descriptions

  • Added Moody’s logo to commercial location score

    image-20211115-200809.png

  • Company list automatically refreshes after a new company is created

  • Fixed issue where Year Renovated would not save in manual comparable creation

  • Added Google address validation in create company modal

  • Fixed bug where person birth date wasn’t saving

  • Added $/Unit to multi-family rent comparable table

  • Added Annual Revenue value to multi-family rent comparable table

    image-20211115-200908.png

Known Issues

  • Some dollar amounts may only dispay to the tenth if the hundredths value is a 0 (i.e. $1.10 will display as $1.1)

  • In New Deal Creation, there are rare cases where addresses inputted may still successfully create a deal, but the street number may be removed from the address on the deal.

  • When navigating to a contact page directly from Deal Summary, the back arrow on the contact page will take user to deal pipeline instead of the relevant Deal Summary. As a interim solution, users can right click the browser back arrow and navigate back to the relevant Deal Summary from there.