| Market Profile | Program Benefits | Program Contacts |
More ABA-Endorsed Solutions by Promontory
- CDARS (Certificate of Deposit Account Registry Service)
- IND (Insured Network Deposits)
- ICS (Insured Cash Sweep Service)
Bank AssetpointSM was created by a trusted source, Promontory Interfinancial Network, LLC, a company that has developed strong relationships with more than 3,000 financial institutions over the past decade. To help banks compete, Promontory provides smart solutions – unique services that derive their value from the power of many, a Network of thousands of financial institutions nationwide. Promontory’s Bank Assetpoint, ICSSM, CDARS®, and IND® services enable banks and other financial institutions to sell or buy bank-owned assets, build profitable million-dollar relationships, manage their balance sheets, and purchase cost-effective funding.
Bank Assetpoint is a nationwide, online marketplace dedicated to helping banks sell and buy bank assets. With Bank Assetpoint:
- All banks, their real estate brokers, loan sale advisors, and other eligible entities can post a wide range of assets for
sale – performing and nonperforming loans, loan participations, loan pools, and commercial OREO – in a single, secure place
- Eligible buyers, including banks, can find loans or properties to purchase
- Banks and other eligible entities can find real estate brokers, loan sale advisors, and specialty service providers that can assist in many capacities associated with a purchase or sale
Bank Assetpoint is open to banks of all sizes and their brokers and advisors. Other eligible entities, such as companies in the business of developing, buying, selling, or managing commercial real estate or in the business of originating, buying, selling, or servicing loan assets, may also participate.
With so many connection opportunities from a single point, Bank Assetpoint can help banks achieve more efficient asset sales and purchases. Banks using Bank Assetpoint can enjoy all of the benefits of an online platform, employing state-of-the-art technology with none of the design and operation costs. These benefits include:
- An online platform that doesn’t compete with banks or brokers, promoting greater transparency and market efficiency
- The ease of posting and monitoring a wide range of assets
- Access to a large number of eligible buyers, facilitating faster disposition
- Access to a full range of third-party service providers, including brokers and loan sale advisors who can help post and manage assets for sale or help with the buying process
- The security and convenience of virtual data rooms
- A site supported by a nationwide promotional campaign
- Access to a full range of customer service and technical support services
Banks and their brokers can get an exclusive first-look at Bank Assetpoint, available now as a beta release with ongoing enhancements expected every two weeks. Bank Assetpoint posting fees are generally waived for an introductory period through December 31, 2013.* Moreover, in recognition that financial institutions have faced difficulties in disposing of assets acquired before the financial crisis, posting fees for certain pre-2009 assets are waived indefinitely.
*For certain entities that have a substantial business of originating loans intended for prompt sale or loans in which participation interests are sold, additional fees may apply.
Bank Assetpoint is provided by Assetpoint Services, LLC, a wholly owned subsidiary of Promontory Interfinancial Network, LLC. Assetpoint Services, LLC does not, merely by permitting the listing of an asset of the identification of a third-party provider of services on the website, endorse the asset, the party posting information about it, or the third-party provider, as applicable. Use of the Bank Assetpoint service is subject to the terms and conditions in the Bank Assetpoint agreements, including the Bank Assetpoint Participant Agreement.
Promontory Interfinancial Network, LLC
1515 North Courthouse Road, Suite 1200
Arlington, VA 22201
Contact: Steve Kinner
Tel: (703) 292-3445
Toll Free: (866) 776-6426
Lisa Gold Schier Tel: (202) 663-5098