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Vendor vetting package

Before you sign a new contract (or whether you're evaluating an existing one) save time by having our team put together a vetting package on your vendor.
CONTACT SALES: (270) 506-5140

For every vendor you choose to do business with, there is foundational risk even if it’s limited to reputational risk. Therefore, step one in every new relationship should be to do the necessary research to know your vendor, meet regulatory requirements and protect your most valuable asset... your reputation. You can save time by having our team of experts do all the research and produce a comprehensive report for your files.

what is included?
  • A Secretary of State check
  • Complaint Research
  • OFAC check on the company and its principles
  • A D&B report for trade data
  • Tax ID #
  • Articles of Incorporation/Business license verification
  • Negative news search

Venminder has a custom vendor vetting package for Closing Agents as they present an elevated risk in the mortgage closing process. This is because they have access to borrowers NPPI, handle the actual wire funds transfer and conduct the physical closing transaction. Our package involves verifying closing agent information including:

  • Wire Instructions
  • State licensing
  • Closing protection letter
  • ALTA Best Practices
  • Errors and Omissions Insurance
vendor vetting services

Our Experts

All work is performed by third party risk experts.
third party risk regulatory compliance

Regulatory Guidance

Even your lowest risk third parties represent some level of risk, so you need to at least know the basics on all of your third parties. Establishing that they are a legitimate company and that they have a good reputation are important. 

The regulatory guidance requires that you consider the reputation risk associated with doing business with a third party.

vendor vetting software

Why choose venminder

In today’s world of increased outsourced risk and heightened regulatory scrutiny, third party risk management is outgrowing the capacity of existing resources at most financial institutions.

The internet of things along with the rapid movement to the cloud necessitates a whole new set of qualifications when assessing vendor risk. Additionally, the sheer volume of assessments, documentation and reporting that is required on all levels of third parties requires an efficient and organized system to properly manage it all.

The perfect solution combines the qualified experts with a robust software platform to ensure your third party risk program meets regulatory requirements and produces excellent exam results. That is what Venminder delivers!

vendor vetting solution

Receive a sample

Request and receive a free vendor vetting package. Click here


Do you know your vendors financial condition?

Download a free one page summarized financial statement analysis now


Meriwest Credit Union Case Study

Read how Meriwest Credit Union changed their vendor management with Venminder