The BankPoint REO solution acts as the accounting system of record for all REO/OREO assets, and provides powerful management features to simplify the REO management process.

Tired of relying on spreadsheets and inappropriate property management systems? See why the BankPoint REO solution has been adopted by $10B+ banks to mitigate compliance risk and automate REO reporting.

Features include:

Case Creation

  • Servicing system integration for importing collateral information
  • Foreclosure/transition of collateral to REO cases, including support for split assets
  • Adding assets to existing REO cases
  • Preservation of asset valuation and NRV history
  • Recording of initial balances
  • Support for real estate and other non-real estate assets
  • Scalable to fit small or large portfolios
  • Supports participated / syndicated assets as well as government guarantees (e.g. SBA Loans)
  • Maintains a complete audit trail and history of entries

Case Management

  • Executive REO dashboard surfaces actions and assets requiring attention
  • Electronic REO case working file consolidates information throughout the entire lifecycle of REO assets
  • Tracking of redemption periods
  • Key balance tracking (including book balance, charge-offs, and reserves)
  • Store notes, pictures, and documents directly in the REO working file
  • Asset marketing plans
  • Support for large numbers of assets per case
  • Tracking and management of asset insurance
  • Full support for REO assets on the ARCS loan WatchList (classified/criticized loan list)
  • WatchList foreclosure forecast and asset sale dates
  • Trending and analytics
  • Key event alerts and notifications

Expense & Income Management

  • Expense and Income tracking at the case and asset level
  • Invoice capture and tracking
  • Invoice coding workflow
  • Expense accruals
  • Capitalized expenses, including approvals
  • Configurable fee types with G/L mapping information
  • Management of vendor insurance and W-9 records
  • Reconciliation processes and reports to keep G/L in sync

Appraisal/Valuation Management

  • Appraisal requests and processing
  • Annual appraisal reminder
  • Multi-asset valuations
  • Supports valuation adjustments / liens
  • Impairment / valuation review
  • Asset write-downs (charge-offs) and reserves

Bid/Offer Management

  • Purchase offers and LOI’s
  • Listing agreements
  • Management of offer lifecycle, including counter offers and approvals
  • Offer analysis including net gain/loss
  • Detailed settlement expense tracking, including estimated and final amounts

Reporting

  • Regulatory / board reporting
  • Annual REO expense detail by property
  • REO/OA status report
  • Asset exception report
  • Monthly accounting roll-forward report
  • Trending / historical reports
  • Detailed case reports
  • Sold real estate reports

CLOSE DEALS FASTER. CONTROL THE CHAOS. GROW YOUR BANK.

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