ABA endorses Bank Assetpoint, a new nationwide online marketplace for bank assets.

• Position: At Your Service - American Bankers Association - Brief article

THROUGH ITS CORPORATION FOR AMERICAN BANKING SUBSIDIARY, the ABA has endorsed Bank Assetpoint, a new nationwide online marketplace that connects banks and other participants looking to buy or sell performing or distressed bank assets.

Promontory Interfinancial Network, which provides the new Bank Assetpoint service through a wholly owned subsidiary, recently announced the service's beta launch.

Banks, real estate brokers and other participants in the commercial real estate and bank loan markets can use the Bank Assetpoint service to post or search listings for a wide range of assets, including bank-owned commercial real estate, performing and nonperforming loans, loan participations and pools of loans. In addition, banks will be able to use Bank Assetpoint to find specialty service providers, such as asset appraisers, real estate brokers and loan sale advisers, based on specific search criteria.

The Bank Assetpoint service also includes a virtual data room feature powered by Intralinks, which allows...