Get BankProspector Professional

BankProspector is a software tool real estate and note investors use to source lender-direct note and REO deals.

BankProspector is a subscription service that aggregates all public bank and credit union data and makes it searchable. The software also includes built-in prospecting tools such as a contact manager, targeting tools, and a powerful advanced search feature.

See BankProspector Features in Action

About BankProspector
What Can You Do With BankProspector?
Who Uses BankProspector?
BankProspector FAQs

About BankProspector

BankProspector is an online software for real estate investors that automatically imports and updates financial health and sales indicators, REO portfolio information, and non-performing loan information for every bank and credit union in the United States. Bank data is updated nightly and credit union data is updated on the day it’s published.

We pair that info with a best-in-class bank contact database featuring listings for 77,971 lender decision-makers, including name, title, phone, and often email and direct lines. Our contacts are continually added, updated, and edited by our full-time contact managers, whose sole job is to supply our members with the most accurate and up-to-date asset manager, workout officer, and decision-maker information.

WHAT CAN YOU DO WITH BANKPROSPECTOR?

You get unparalleled insight and tools to help you source lender-direct distressed assets, non-performing note, and REO deals.

All the tools and information you need to start buying REO and non-performing mortgage notes direct from banks are inside BankProspector.

Find Lender-Direct Non-Performing Note Deals

Skip the middlemen and go right to the source for non-performing note deals. Lenders are repeat sellers of discounted and distressed non-performing assets.

Prospect Better with Financial Health, Sell, and Other Indicators

See the financial health, sell, and other indicators to zero in on your best prospects.

See Non-Performing Asset Portfolios for Every Bank and Credit Union in the U.S.

Only BankProspector shows you which lenders are your best sellers for REO and non-performing notes in near real-time plus insight into who’s selling.

Get Bank Contact Info Including Phone and Email for Decision-Makers

Lender-direct deals are done between people. BankProspector provides access to the largest dedicated database of asset managers and bank decision-makers on the web.

See Non-Performing Asset Portfolios for Every Bank and Credit Union in the U.S.

Only BankProspector shows you which lenders are your best sellers for REO and non-performing notes in near real-time plus insight into who’s selling.

WHO USES BANKPROSPECTOR?

• Mortgage Note Investors
• Note Brokers
• Wholesalers and Flippers
• Commercial Real Estate Brokers
• REO Listing Agents
• Auctioneers
• Investment Analysts
• Consumer Debt Buyers
• Family Investment Offices
• Private Equity
• Hedge Funds
• Real Estate Investors
• Property Preservation Companies

BANKPROSPECTOR FAQs

What kinds of REO does BankProspector track?

Banks report five types of REO including residential, commercial, multifamily, construction, and farmland. BankProspector tracks all five.

What kinds of notes can I find with BankProspector?

BankProspector has reports for every classification of loan, including:

• Residential HELOCs
• Seconds (AKA juniors)
• First position residential
• Multifamily and apartment buildings
• Owner occupied commercial real estate
• Non-owner occupied commercial real estate
• Residential construction loans
• Commercial and land development loans
• Agricultural and farmland
• Business or “C&I” loans
• Auto loans
• Consumer credit cards

Can I buy individual notes from banks?

Yes, many mortgage note investors buy individual notes from lenders…but you have to know how to get in touch with decision-makers first. Once you’ve made the connection, you can work with the lender to determine the note purchase volume and value.

Our expert-led training courses guide you through the best ways to contact a bank decision-maker, how to negotiate your first note deal, and how to maintain a relationship with decision-makers so the note and REO deals keep flowing your way.

Does BankProspector show listings for individual notes?

No – banks don’t have to report the delinquency status of individual notes, so we don’t receive accurate data to report. There is no service showing individual loan stats unless you’re looking for Commercial Mortgage-Backed Securities (CMBS).

We show you bank portfolio data, health, and sales indicators as well as lender contact info; but really, the only way to get individual mortgage note prices and details is to go to the source…and that’s the bank.

NOTE: If you do find mortgage notes listed for sale somewhere on the web, it probably means you're looking at notes that have already been purchased from the lender. So, keep in mind, you're not buying at lender-direct pricing anymore...the current seller already did that. 

BankProspector is designed for note investors and brokers who want to get the best deals on notes by buying them directly from the bank.

I’m an REO agent. Can I get REO listings through BankProspector?

Yes! Many of our customers are REO agents who use BankProspector to find local, regional, and community lenders for whom they can list REO properties.

Can I use this software to invest in pre-foreclosures and REO?

Yes, the BankProspector platform allows investors and brokers to find banks with foreclosures and non-performing notes. Using the software’s up-to-date bank portfolio data and financial health and sell indicators, foreclosure investors can zero in on which banks to contact.

What won’t you see in BankProspector? Individual foreclosure listings. And, really, there isn’t one master list out there where banks advertise distressed assets; that’s just not how they handle this aspect of the business. Once a lender is ready to offload a bank-owned property, they typically hire an REO agent to handle the sale, which means less profit, increased buyer competition, and limited negotiation opportunities for investors.

One of the best ways to invest in foreclosures (and increase profits, limit competition, and gain control of the purchase) is to deal directly with banks BEFORE they move to sell REO and non-performing mortgage notes, and BankProspector is designed to help buyers do just that.

Can I “cherry-pick” non-performing notes or REOs from lenders?

Individual lenders set their own policies on what they will and won’t sell. It is not uncommon for a lender to sell a single REO. It is less common to see individual residential note sales. It’s not uncommon to see individual commercial note sales.

Can I get a call with you before I buy?

Our software and training courses are designed to be self-serve. We encourage potential clients to check out our extensive library of articles, podcast interviews, and case studies to learn more about how the bank-direct asset-buying business works, and how our tools can help distressed real estate and note investors streamline their processes and expand their lender networks.

We don’t do personal demos or individual sales calls, though if you have any questions, you can email us or use the “beacon” in the corner of every page, and one of our support team members will get in touch with you ASAP. You can also check out our help docs, where you’ll find guides on how to use BankProspector, how to read the bank data, and other information about our software and training.

I’ve never worked with lenders before, do you have training?

Yes. Our Mastering BankProspector teaches you how to use the software, and if you’re new to the industry or could use some fresh ideas and strategies, you can upgrade to the Bank Direct Mastery Academy, which teaches a complete prospecting system and includes scripts and templates. *Please note this is not included with a BankProspector subscription and is an optional add-on.* If you’d like to gain access to this expert-led training package, email us at [email protected], and a member of our team will help you get set up.

Do you have a mobile app?

Not yet. Our training can be accessed from nearly any device but BankProspector is best on a traditional screen.

Can my assistant use it instead of me?

Yes, as long as you’re in the same office. Logging in from multiple IPs in a day will lock your account. Working from a single office will prevent this. Multiple concurrent logins are not allowed.

Can I share the login with my partner?

No. The license is for a single named user and cannot be shared within an office or with others.

How much does BankProspector cost?

A BankProspector Professional software subscription is $199 per month or $1,990 per year (one-time annual purchase).

Can I buy mortgage notes from you?

No, we don’t sell notes, but our software and training can help you find and buy notes directly from banks.

Can I list REOs for you?

No, we’re not a lender, but our BankProspector software and training courses can help you get REO listings from banks and credit unions.

Where do the contacts in BankProspector come from?

We have full-time in-house research staff as well as proprietary technology that we use.

How often is BankProspector data updated?

Bank data is updated every night. Credit unions are updated whenever the National Credit Union Association (NCUA) posts new data – usually quarterly. Contacts are continuously updated.