One of the first things you want to know before you sit down to call or email your note seller prospects is whether or not that connection would even be fruitul for you in the end. That’s how you guard yourself against going down rabbit holes for weeks or months.
For this we look to note sale indicators.
Banks leave these clues in their FDIC call reports, the reports that we use in BankProspector to show you what’s going on inside.
In addition to simply knowing whether or not a bank has the types of non-performers you’re looking for there are a number of other factors that will let you know if doing the work to make a connection with the bank will be worth the investment.
Some of these include:
- Loans and Leases Held for Sale (late and nonaccrual)
- Nonaccrual Loans Sold
- Allowance for Loan and Lease Losses
To name a few.
The problem with looking at a single call report is that you don’t get to see what’s happening over time in a bank’s portfolio.
BankProsector aims to fix that problem (among others) but until now you weren’t able to see, for example, that while this particular bank hasn’t sold much this quarter, just 4 quarters ago it had a substantial sale. Is it a pattern?
Here’s what that looks like in the new BankProspector.
The key to finding the deals in this business is to be in the right place at the right time and to know the right people. BankProspector is designed to help you do exactly this.
This new feature will be released in a major update (4.0) we’re working hard to release very soon.
We’re aiming to raise the bar for our product and for professionals in the distressed assets business. We’d love to have you on board.