Today BankProspector from distressedpro.com becomes available to the real estate community. BankProspector gives real estate professionals, investors, attorneys, and lenders instant anytime access to the distressed real estate and mortgage loan information for more than 8000 US banks.
With BankProspector members can generate lists of lenders with bank owned real estate and troubled real estate loans that meet their specific criteria. Members can search geographically with a simple map interface, by bank name, or with the advanced search. A drill down from high-level US data to state data ends with records for individual lenders. These records show:
- General bank information
- Capital adequacy and leverage ratios
- Distressed real estate loan and REO totals
- Non-performing or performing notes listed as ‘held for sale’
- Late and defaulting mortgage loans for
each category [residential, multifamily, commercial, construction]
- REO (bank owned real estate) balances for each lender by asset type.
- Non current percentages by asset type
- Net Charge-Offs (may be an indicator of a lender’s willingness to sell)
- Contacts at the bank with LinkedIn accounts
- …and more
Increasingly lenders are calling the shots when it comes to real estate transactions. Nationally lenders are seeing higher rates of default in nearly every real estate loan category and their OREO (bank owned property) balances are growing nearly every quarter. As this trend continues and lenders take control of more property investors, brokers, attorneys, etc. will need to work directly with many of the more than 8000 lenders just as these lenders will be seeking outside expertise and solutions to their growing problems.
BankProspector is designed for real estate professionals of all types who are interested in developing or expanding a network of special assets, workout, and risk management professionals at banks they currently work with or would like to.