The ability to analyze Operating Statements is now available directly in the WDSuite Servicing platform! The article below details how to upload operating statements to the platform and use the new parsing tool to quickly analyze and categorize the statements.
Uploading an Operating Statement
Log in to the WDSuite Servicing portal
Navigate to the loan you are looking to upload to
Click on the Documents & Reports dropdown in the top right, and click "Upload Financials
Upload your financials using the "browse your computer link"
Analyzing and Categorizing Your Operating Statement
Once you upload your financials, you should see them reflected on this screen
To analyze your operating statement, click on the blue "Parse" button next to the operating statement you uploaded. In the pop-up, click "Parse Document." You'll then be prompted to select the collatateral/property for the loan. Selecting the drop-down will give you a list of selectable properties:
Corrections and Categorizing
The next page and pop-up will ask you to confirm your first expense and your NOI.
Once confirmed, your Operating Statement will populate, along with two empty columns on the left side: one for the Auto-categorized line items, and one for the Adjusted Category
Click on “Auto Categorize” in the left-hand corner above your Operating Statement. This will populate the Category column (column 1) with the corresponding line items
Auto Categorization will note the confidence level of predictability with a % value to the line item name.
Rows highlighted in blue represent line items the system isn't fully confident in. These line items should be reviewed manually to ensure they are accurate.
The categorizations can be updated manually with the list given. At this time, there are no customized categories.
Orange boxes identify outliers within your Operating Statement.
Hovering over the “Outliers detected” in the upper right corner will give you additional information.
These outliers are not blockers; they are meant to just be highlighted for review in case something was input incorrectly in the operating statement
Computed NOI and Operating Statement NOI should align; the rows will highlight in green if these values are aligned.
When these values are not aligned, the rows will be gray, and your Operating Statement will likely have one or more rows highlighted in yellow. This will identify where the discrepancy is likely occurring.