Current non-performing, other real estate owned (OREO) processes are time consuming and manual; they lack transparency and slow the process of getting properties off the balance sheet. BankLabs OREO is the world’s first mobile, cloud-based participation platform that manages the complete lifecycle allowing any user access to see carrying costs, property details and manage the life of the property. The product is 100% electronic and includes a marketplace to expand reach to new buyers outside the local financial institution market.
Other Real Estate Owned Automation
50% more efficient process
Sell OREO faster
Make better decisions
Expand your buyer network
All Property Types
One tool for all OREO including commercial, residential and raw land.
All online and electronic. No more delays, no more paper files, no more e-mail attachments. Complete mobile access for bankers, managers and buyers.
Cloud Storage & GPS
Integrated documents and latitude and longitude automation for service providers, bankers and buyers.
Sell 50% Faster
Sell OREO faster thru online document sharing, offers to purchase and carrying cost analysis.
Manage all steps of the OREO process from performing to non-performing; carry cost analysis, sharing with property managers, negotiating the sale, closing, real-time reporting, data analytics and regulatory support.
Pays For Itself
Sell properties faster, reduce carrying costs, improve efficiency, and do more with less using modern mobile and cloud based tools.
The marketplace connects more financial institutions and buyers than ever before for individual properties or portfolios.
SOC 2 data centers encrypting documents and user access. Restrict what information can be seen.
Our startup process is designed to minimize efforts on bankers, managers and buyers. The first step is a 30-minute online demo.
Learning OREO is quick and easy with intuitive navigation. Go-live training takes one hour and can be done remotely.
We even offer a 30-day free trial to prove it is effective for your financial institution. No strings attached.
BankLabs’ OREO is an important part of any banks non-performing strategy regardless of economy. Rather than wait to catch a falling knife, we chose to automate OREO processes, access and controls while the economy is good. This provides management, directors and regulators comfort that we will be ahead of other banks in the region when the economy cycles down.