RALEIGH, N.C.–Sageworks, a provider of credit risk and risk management solutions, has announced a series of a product enhancements and new solutions. New products include Sageworks Credit Analysis with Nonprofit Lending, Credit Report Access and ALLL Forecasting.
To its credit risk management solutions, Sageworks said it developed credit analysis templates designed specifically for nonprofit entities. This allows the platform to analyze for-profit companies, farms, guarantors, nonprofit organizations and real estate, while combining the different entities into a single, global cash flow analysis. Sageworks Credit Analysis supports a variety of portfolio segments and brings to the institution greater consistency and defensibility in lending decisions, the company said.
Sageworks also released Sageworks Credit Report Access in which users can pull real-time credit score and report information into underwriting analyses, risk ratings, loan prices, documentation and stress testing, using the institution’s subscriber ID and password to access credit-bureau data. With this product, loan officers are armed with up to date credit-risk information for guarantors.
For portfolio risk management, Sageworks also launched ALLL Forecasting, which it said equips users to make assumptions about balances, charge offs and recoveries and to see the estimated impact on the provision and the reserve.