Inside Rockport CORE: Asset Management, Excel Integration & Powerful CRE Dashboards

So, the Rockport Group has three great products – CORE, VAL, and ACT, and we've been working overtime here to make sure that their data is seamlessly integrated between those and passes in a consistent manner. So, with ACT and CORE, we've seen a lot of efficiencies for our clients where when a loan hits a certain phase of the life cycle, it's seamlessly moved over into ACT where the closing team and specialists in that area can start to work on that, collect their information, and make sure that that loan is ready to fund.

Once it's funded, obviously there's activities that are occurring in the accounting and servicing system that CORE needs to be informed of, and so that information’s passing back and forth in order to make sure that maybe an asset manager working in CORE is able to leverage the information that is occurring in ACT, and, you know, if a payment or an activity occurred yesterday and when I'm working on that deal today, I have that information to inform my analysis or my decision or my reporting in an accurate and timely way.

With Rockport VAL and Rockport CORE, the integration there really serves as an extension of the CORE application in a way that allows clients to take a deeper dive into the discounted cash flow or forward-looking projections on a given asset to see from an underwriting decision what the future might hold positively or negatively so that they can kind of make the best informed decision. And even down, you know, we've seen more recently some workout activities where maybe we need to kind of take a deeper dive onto a deal that had been performing, but maybe showing some signs of distress and we need to kind of take a closer look and Rockport VAL allows for us to go as deep as we need to.

Then the information can be passed back into CORE as needed to include in reporting, to kind of close the loop on that process. So, Rockport CORE has been kind of leading the curve on Excel integration for a long time. We have a model that comes with the system that's been battle-tested over the years that allows for kind of complex underwriting across all the different property types, whether it's commercial, multifamily or hospitality, and what we view is really Excel is an extension of the application where information can come from Rockport down to Excel, users can work there where it's a little bit more familiar to commercial estate finance folks and do their analysis with a push a button, send all that information back up to the application.

So, the data is collected, standardized across the entire portfolio in a consistent way that it can be used in reporting, analytics, and then once that loan closes, if it's a Portfolio Lender, we're leveraging that information for the life of the loan in that manner. With Rockport CORE's add-in were able to take our clients’ proprietary Excel files and make them an extension of the application as well. So, whether that's an underwriting file or any other tool that the team uses to make decisions or to inform their business, the data can be mapped from the system down to Excel and vice versa.

This allows for, kind of, a lot easier change management adoption of the new system. We don't have to force our clients to learn new tools and new processes. We can, kind of, work to adapt those into the system. CORE also has the opportunity to offer third-party access for our clients and so, a lot of times our clients have third-party shops that are supporting an underwriting or servicing an asset management and we're able to offer kind of permissioned or limited privileged access to a specific set of data so that those third parties to our clients can access and work in the same system and add a lot of efficiencies to both of those teams process.

Our clients have communicated over the years that being able to, kind of, have all of the information in one place is great, but it's hard to find the needle in the haystack. So, what the team has released is a High-Level Summary Dashboard when you log into the system where you're able to on a graphical level or geographical level, stratify the portfolio based on a variety of metrics and drill down into any segment that you're interested in to see summary information, a little bit more detail, and ultimately all the way down into that loan record or property record to find the needle in the haystack and then go take action as needed.

We didn't stop with the High-Level Summary Dashboards, we also released a Loan & Property-Level Dashboard, which aggregates information from the loan, the property, Borrower/Sponsors, basically all the information underneath the deal to give you more or less a report on the screen that allows you to quickly understand what's going on with the deal or what's been going on with the deal. It includes a timeline of activities from origination all the way to current; you also can, kind of, visualize performance metrics. So, whether it's DSCR trends, LTV trends on a graphical, or looking at risk ratings and seeing how the risk ratings on a given deal has moved over time.

We've got Milestone Widgets on the Home Dashboard, which basically allows us to take any date and stratify that into buckets over time. So say, for example, maturity date, you can see what's coming up in the next quarter, three to six months, 6 to 9 months over the next year or two years, so you can see what's coming through from a volume perspective just visually and then of course, clicking down and getting into the detail. So really just, kind of, quick and easy dashboards act like reports to summarize and serve out that information for our clients.