FAQ

What size of bank was this system designed for?

FastGrade was built to improve efficiency and administrative performance of all sizes of banks and their lending operations. These efficiencies yield cost savings while reducing single-source dependency issues that many banks face today.
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Is there a difference between a risk score and a loan grade?

A risk score is typically used in the underwriting process of a credit decision to determine whether or not to approve a loan. Once a loan has been approved and is on the bank’s book, a loan grade is used to assess the continued performance of this asset. Regulatory authorities have issued Interagency Policy Statements (IPS) dated July, 2001 and December, 2006 as well as SR Letter 07-1, which require that banks and thrift institutions periodically evaluate their loan portfolios on a consistent and analytical basis. FastGrade was created to help banks meet these regulatory requirements.
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Will it match our current grading scale?

FastGrade allows a bank to choose the loan grading scale that best matches their current system. Whether your bank uses a 6-point or a 9-point scale, FastGrade meets banks where they are today.
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What if I don't agree with the system's loan grade?

FastGrade's innovative dual loan grading system allows flexibility for you to adjust the final loan grade as you see fit. FastGrade always provides an objective grade based on your customers’ financial performance compared to RMA industry standard data. The second set of components of all loan grades are subjective adjustments. These include adjustments based on the strength of guarantors, the borrower’s management ability, and other credit-quality adjustments that are unique to that borrower. Top

Will this make extra work for my loan officers?

FastGrade uses condensed financial statements and data upload capabilities that actually increase the efficiency and productivity of your loan officers. If your bank already has statement spreading software, FastGrade allows you to upload from exported files to reduce inputting of the same data multiple times.
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How does the information from our portfolio get into FastGrade?

FastGrade uploads loan portfolio data directly out of your core banking system. This core system upload can be repeated as often as you want.
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Can I upload data from my existing statement spreading software?

FastGrade can import any data in a text delimited or Excel format. If your existing statement spreading software can export data, FastGrade can upload the data.
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How long does setup and implementation take?

FastGrade is delivered as a subscription service. Your bank can get access to the system in just a few days. Setup includes mapping existing systems and loading financial statements for your borrowers so your loan officers don’t have to. The total time of setup depends on the individual bank, however, setup is usually complete in 2 – 4 weeks.
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Will our customer data be secure?

Securing your information is a priority for FastGrade.

Among FastGrade’s primary security features are:

• Dedicated servers with Managed Hosting.
• Type 2 SAS 70 Certified Compliant Hosting
• Daily backups of data.

In addition, FastGrade data security measures work to protect against risk of data corruption and network intrusion. Such components include:

• Continually updated computer anti-virus protection to guard against viruses or worms entering the FastGrade network;
• Firewalls to prohibit access breaches by individuals or networks;
• Secure transmissions to ensure information remains confidential. Encryption technology such as Secure Socket Layer (SSL) protects data transmission between FastGrade and our customers.

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How often are significant upgrades or system modifications made to FastGrade and how do we learn about these?

FastGrade releases new functionality every 60 to 90 days. All new functionalities are built as modules. This gives you the choice whether you want to incorporate the upgrades into your bank’s FastGrade system. Prior to a new module becoming available, your FastGrade account representative will schedule time to review all the new features with you and your team. You can also learn more about new features by visiting FastGrade.net.
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What do I do if I have questions or problems?

You can contact the FastGrade help desk at 877-933-5172 or submit a written request directly from the FastGrade application.
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