REVIEW PROCESS FOR INTERNAL/EXTERNAL VENDORS CONTENTS OVERVIEW:... 1 REVIEW ASSIGNMENT ACCEPTANCE PROCESS:... 2 TO SUBMIT A BID OR ACCEPT AN ASSIGNMENT:... 3 TO DECLINE A BID OR ASSIGNMENT:... 4 REVIEW IS AWARDED: (EITHER BY YOU ACCEPTING THE OFFER OR BY THE BANK PROCESSOR SELECTING YOUR BID):... 4 HOW TO ACCESS THE VENDOR REPORT AND BEGIN THE REVIEW PROCESS:... 5 HOW TO COMMUNICATE WITH THE BANK PROCESSOR DURING THE REVIEW PROCESS:... 6 HOW TO COMMUNICATE WITH THE VENDOR DURING THE REVIEW PROCESS (WITHOUT ASKING FOR A CORRECTED REPORT TO BE UPLOADED):... 6 HOW TO SUBMIT YOUR FINAL REPORT WHEN THE REVIEW IS COMPLETED (NO CHANGES/CORRECTIONS FROM VENDOR ARE NEEDED):... 7 HOW TO ASK FOR CORRECTIONS ON A VENDOR REPORT:... 8 OVERVIEW: 1. You will receive an email from the system asking you to submit a bid for completing the Review. 2. There are 3 links in the body of the email Submit Bid, Decline Bid and Instructions for Responding. 3. To Submit a bid OR Accept an Assignment click on the Submit Bid link. 4. To Decline to Bid OR Decline the Assignment Click on the Decline Bid link. 5. The Instructions for Responding link provides you with access to the steps to respond (this document). 6. If you are selected to complete the Review and you Accept the assignment, you will Receive an email that provides you with a link to access the Vendor s Report and Upload your Review Form. Detailed Instructions for accessing the Vendor Report and Uploading your Review to the Web Form are below. 7. During the Review process if you have comments or questions for the Bank Processor, you may simply go to the Processor/Review Discussion section of the Review Submission Web Form and enter the comments/questions. The Bank Processor will receive an email notification providing them with the details of the communication. The Bank Processor will be able to respond and in turn, you will receive an email notification. All communication will be recorded and displayed on the Review Submission Web Form. 8. During the Review process if you have comments or questions for the Vendor, you may simply go to the Vendor/Reviewer Discussion section of the Review Submission Web Form and enter the comments/questions. The Vendor will receive an email notification providing them with the details of the communication. The Vendor will be able to respond and in turn, you will receive an email notification. All communication will be recorded Page 1 of 9
and displayed on the Review Submission Web Form (this is to have a Discussion with the Vendor without asking for immediate Report corrections). 9. During the Review process if you have an item you need a Vendor to correct - You must click on the link Request Vendor Corrections. This will open a Comments Box where you can enter (via cut/paste from a Word document or manually enter) the items you would like the Vendor to correct. You may also upload a document to provide the Vendor with additional instructions/corrections. This will automatically generate an email to the Vendor asking him to correct the issues (the Bank Processor in charge of the Request will also be notified you have asked the vendor to correct something in the Report). Once the Vendor has addressed the issues, you will receive a NEW email that provides you with a link to the updated Report that was submitted by the Vendor so you are able to complete and Submit your Review. Detailed instructions on how to ask a Vendor for a Corrected Report (once or multiple times) are in the instructions below. PLEASE FOLLOW THE INSTRUCTIONS BELOW TO COMPLETE THE REVIEW. DO NOT ASK A VENDOR TO MAKE CHANGES TO A REPORT OUTSIDE OF THE SYSTEM PROCESS PROVIDED. DO NOT SUBMIT A REVIEW (by clicking on SAVE AND SEND FINAL REPORT ) UNTIL THE VENDOR HAS CORRECTED ALL ISSUES WITH THE REPORT AND YOUR REVIEW IS COMPLETE. REVIEW ASSIGNMENT ACCEPTANCE PROCESS: A Review Solicitation e-mail will be sent to notify the Reviewer that they have been selected to place a bid or accept a Review assignment. The Processor can solicit a Review Assignment in one of 4 ways: 1. By providing both the fee and the due date so that the Reviewer can Accept or Reject the assignment 2. By providing the due date and ask the Reviewer to bid the fee (the fee to complete the Review by the set due date) 3. By providing the fee and asking the Reviewer to bid the due date (the date the Review can be completed by) 4. By asking the Reviewer to bid both the fee and the due date (the Cost & date the Review can be completed by) Sample of the Solicitation e-mail: Page 2 of 9
TO SUBMIT A BID OR ACCEPT AN ASSIGNMENT: Click on the Submit Bid link in the e-mail and the Solicitation Web Form will open: If the Processor entered comments, they will be displayed at the top of the form. Enter any information requested (Fee, Due Date, and Comments) and then click on Submit Bid. If you choose to Decline, then you can enter Comments as to why you are Declining the Bid and then click on Decline, No thanks! (Comments are not required). If you are Declining to bid, an additional pop up will ask you to confirm that you are declining to bid, and if you are, click on Ok when the warning message pops up. NOTE: If the Assignment was directly offered to you the Submit Bid button will be replaced with an Accept button. After you click on Submit Bid, the system will display a message to let you know the bid (your response) was sent to the Processor. Page 3 of 9
TO DECLINE A BID OR ASSIGNMENT: If you click on Decline Bid link in the e-mail and Decline Solicitation Web Form will open: Comments may be entered to explain why you are Declining to Bid or Declining to Accept an Assignment when you select Yes, decline this bid If you change your mind, click on No, I would like to submit a bid and you will be redirected to the Web Form that allows you to Submit a Bid or Accept an Assignment. NOTE: If the Processor selects your bid to complete the assignment, you will receive an e-mail with a link to the Review Submission Web Form. If you are not chosen, you will receive an e-mail letting you know that you were not awarded/assigned the Review assignment. REVIEW IS AWARDED: (EITHER BY YOU ACCEPTING THE OFFER OR BY THE BANK PROCESSOR SELECTING YOUR BID): Sample of the Assignment e-mail (your bid was chosen): The Assignment e-mail will provide you with the link to the Review Submission Web Form which will allow you to complete the Assignment and submit your report. Details about the assignment are included in the body of the e-mail. Page 4 of 9
HOW TO ACCESS THE VENDOR REPORT AND BEGIN THE REVIEW PROCESS: Once you click on the Review Report and Submit link in the email, the Review Submission Web Form will open. You can click on this link as many times as needed. The link will remain active until you Save and Send Final Report. To access the Vendor Report, click on the link at the top of the page called Download the Report. Note: If the Download the Report link is not at the top of the Web Form, please refer to the Request Documents at the bottom of the Web Form. Any documents provided to the Vendor will be available at the bottom of the Web Form under Request Documents. To access these documents, simply click on the link (document name) and you will be prompted to download, open or save the document. A link to the Bank Review Forms will be available (if applicable). 1. Click on the Download the Report link at the top of the Web Form to download the Report. 2. Verify the Start Date is correct or select Start Date by clicking on the calendar icon next to the field name 3. Download/View any Request Documents or Review Forms needed (by clicking on the file name). 4. Click on the Save and Continue Editing to close out the Web Form until you need to dispute the report, are ready to submit your final report or you need to access a document located on the web form again. Page 5 of 9
HOW TO COMMUNICATE WITH THE BANK PROCESSOR DURING THE REVIEW PROCESS: Go to the Processor/Reviewer Discussion section and either enter a New Comment or Reply to an existing comment. To add/send a document with the comment, select the Browse button and upload the document. To view the history of all comments between the Reviewer and Bank Processor, click on the blue button to expand the entire discussion (if applicable the blue button will appear). NOTE: An avatar may be added by hovering over the standard silhouette and selecting the Change button which will allow you to Browse and create a personalized avatar. HOW TO COMMUNICATE WITH THE VENDOR DURING THE REVIEW PROCESS (WITHOUT ASKING FOR A CORRECTED REPORT TO BE UPLOADED): Go to the Vendor/Reviewer Discussion section and either enter a New Comment or Reply to an existing comment. To add/send a document with the comment, select the Browse button and upload the document. To view the history of all comments between the Reviewer and Vendor, click on the blue button to expand the entire discussion (if applicable the blue button will appear). DO NOT CHECK the box Require Vendor to upload a revised report until you are ready for the Vendor to upload a revised report. NOTE: An avatar may be added by hovering over the standard silhouette and selecting the Change button which will allow you to Browse and create a personalized avatar. Page 6 of 9
HOW TO SUBMIT YOUR FINAL REPORT WHEN THE REVIEW IS COMPLETED (NO CHANGES/CORRECTIONS FROM VENDOR ARE NEEDED): 1. Upload the Review Form click on Browse button and locate the file on your system 2. Select the Review Action from the drop down list 3. Upload the Review Invoice (if applicable) click on Browse button and locate the file on your system 4. Select a Vendor Grade from the drop down list 5. Enter any comments needed about the Vendor s performance in the Vendor Grade Comments box 6. Enter the Reviewed Value 7. Select a Reviewed Risk (if applicable) 8. Enter the NOI and Cap Rate (if applicable) 9. Add any Comments that you want to provide the Processor NOTE: All fields with the red * are Required fields and must be populated prior to Save and Send Final Report. REMINDER: If you are working and need to stop but want to save the data you entered already, simply click on the Save & Continue Editing button. You will then be able to close the browser and return by clicking on the link in the Assignment email at any time. Page 7 of 9
When you have completed the Web Form and are ready to submit your final Report, click on Save and Send Final Report. The system will ask you to verify you are ready to submit your final Report: A confirmation message will appear when the report has been submitted: HOW TO ASK FOR CORRECTIONS ON A VENDOR REPORT: Click on the link Request Vendor Corrections on the Review Submission Web Form and the Web Form will scroll to the Vendor/Review Discussion section with the Require Vendor to Upload a Revised Report checked. Enter the items that need to be corrected by the Vendor in the New Comment text box and upload any files you want to provide the vendor in the Browse fields. These comments and any uploaded files will be sent to the Vendor via email notification. This is an UNLIMITED text box (manual entry or copy/paste can be utilized). Once you have entered all of the information the Vendor will need to correct the issues in the Report, click on the Send Comments button. NOTE: If the Require a vendor to upload a revised report is CHECKED, the system will REQUIRE the Vendor to Upload a new report. If you only want to ask the Vendor questions, please UNCHECK this requirement. Once the Vendor has corrected the report, you will receive an e-mail letting you know the updated report has been uploaded and the Processor will be notified as well. The e-mail will contain the link to access the Review Submission Web Form. Page 8 of 9
The link Download the Appraisal Report at the top of the Review Submission Web Form will allow you to access the updated report. The Previous Comments will display in the Vendor/Reviewer Discussion section. During the Review of the updated report, if additional errors are found, you would simply follow the same process until the report is accurate and you are ready to upload your final Review Report. NOTE: If there is an issue with the report you are reviewing, you MUST go to the Vendor/Reviewer Discussion section and put a check in the Require Vendor to Upload a Revised Report box and add your comments. This is the only way the vendor will be able to make the proper corrections and resubmit the report so you may complete your Review. Once the Vendor uploads the new report, you will receive an email notification with a link to the Reviewer Submission web form with a link to the revised report so that you may complete your Review. If more issues arise, you would follow the same process to initiate the next set of corrections. Page 9 of 9