ITender Mortgage property

The Russian banks will be able quickly to implement property of the debtors thanks to the solution "iTender Mortgage property" of Fogsoft company.

The wave of forced withdrawal of mortgage property by banks came to Russia during an economic crisis in 2008-2009 and yielded to banks many losses. The economic instability in the country and threatens today the Russian banks with the next wave of withdrawals of property at their debtors.

For the creditor sale of mortgage property inevitably leads to additional costs. So, after pledge withdrawal, the property gets on balance of bank which, in turn, should allocate funds for implementation, storage and service of pledge. Respectively, banks try to get rid of non-core assets as soon as possible.

The solution "iTender Mortgage property" will allow banks to reduce terms and to optimize implementation process of mortgage property. According to developers, the new software solution represents the electronic marketplace (EM) where as the organizer of biddings both the bank, and his intermediaries (agents) can act. On such platform any kinds of electronic trade procedures of sale, including, an auction, a public offer can be carried out. "Besides, for example, when implementing monuments of architecture carrying out tender can be relevant" — added to Fogsoft.

This system can be integrated with other automated solutions of bank. For example, it will become excellent addition of a system of credit service or accounting of mortgage property, consider in the company.

"Electronic biddings when implementing any kinds of property allow their organizers to cut down overheads, to get rid of laborious work on holding 'paper' trade procedures and to expand considerably a circle of potential buyers — Dmitry Kabetkin, the associate director of department on work with key clients of Fogsoft company told. — Our task — to help banks in the shortest terms, having as much as possible optimized implementation process of property of their debtors".

The representative of Fogsoft also added that acquisition "iTender Mortgage property" will allow banks to implement property by the rules, according to the current business processes and credit policy. Besides, implementation of an automated system of implementation of mortgage property will provide an opportunity to control implementation process of property even if agents are engaged in sale of property of the debtor of bank. The average return of such system will be of half a year.