Louisville, Ky.-based Conexxus, an integrated automation, compliance and monitoring software developer, launched a new product to pair buyers and investors to banks and lenders that sell non-performing assets.
Conexxus Buyer Group lets select pre-qualified buyers search bank clients’ databases and view properties, key data and related files with no service charge. Buyers range from Wall Street hedge funds to individual local buyers looking to buy development properties, the company said.
During the summer, Conexxus released a software product that automates the process of procuring documents in real-estate-owned (REO) transactions. By pairing the two products, Conexxus said banks can dispose of distressed assets faster.
“At Conexxus, our end goal is to help banks navigate today’s tough economy and eliminate the distressed properties that are impacting their operations and their ability to serve existing and prospective customers,” said CEO Jeff Reibel.
Write to Austin Kilgore.
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