Other Real Estate Owned Automation

Bank Labs automates the management of other real estate owned (OREO). This 100% paperless process tracks property details, inspection history, appraisals, payments, valuation and more.  All linked to our proprietary OREO Marketplace exposing your properties to a national pool of investors. 

Benefits - reduce admin hassle, stay in compliance and move your properties faster.

No more spreadsheets - fully online and automated, the spreadsheets are the thing of the past.  All documents are imaged. 

Mobile - anywhere, anytime access for investors, bank personnel, brokers and inspectors. Access information via your phone, tablet or computer. 

Examiner Approved - examiners love banks where they have instant access to all properties in a 100% paperless environment. Give them a login instead of a paper file and watch them smile! 

Fast to setup - setup takes 1 hour and you are ready to start moving those properties off your balance sheet. All properties can be on the national marketplace as well as a custom, bank branded version accessible from your bank website homepage.

Flexible  - this tool handles commercial, residential and raw land.

Secure - fed approved data centers and data/document encryption make this a great choice to eliminate e-mail and spreadsheet risk.  

 


OREO Marketplace

Bank Labs created a internet based marketplace exclusive to our bank clients that use our OREO Automation product.  It extends your reach to investors outside your community. We have licensed brokers that can package cross-bank properties for private investors. We have a national marketplace as well as a free marketplace that 'snaps-on' to your bank website in less than 1 hour.  

Benefits - gain visibility to national investors, automate the sales process and move OREO off your balance sheet faster than ever before.

No more spreadsheets -  fully online and automated, the spreadsheets are the thing of the past.  All property documents such as inspections, appraisals, bills and photos are imaged so no more paper.  

Mobile - anywhere, anytime access for investors, bank personnel, brokers and inspectors. Access via your phone, tablet or computer. 

 

Examiner Approved - examiners love banks that have strategies to get OREO off the balance sheet.

Fast to setup - setup takes 1 hour and you are ready to start moving those properties off your balance sheet. All properties will be on the national marketplace as well as a custom, bank branded version accessible from your bank website homepage.

Flexible  - this tool handles commercial, residential, Ag and raw land.

Secure - fed approved data centers and data/document encryption make this a great choice to eliminate e-mail and spreadsheet risk.