Launching of the Reap Property Database System (RPDS), an electronic compilation of the fair market values of real properties, including foreclosed and "dacioned" assets, held by banks as collaterals

MEMORANDUM Series of 2002

TO   :  All Banks/ Non-Bank Financial Intermediaries Performing Quasi-Banking Functions

The Bankers Institute of the Philippines (BAIPhil) jointly with the BAP Credit Bureau announces the launching of the Real Property Database System (RPDS), an electronic compilation of the fair market values of real properties, including foreclosed and “dacioned” assets, held by banks as collaterals.

RPDS allows banks and other institutions enrolled therein to access online and share real time information/data on the fair market valuation of real estate properties.

The system has been tested and the BAIPhil Credit Committee in coordination with BAP Credit Bureau has already conducted briefings among the Credit Officers and Acquired Assets personnel, who are the potential users for this Appraisal Database Service.

You may find the RPDS useful in your operations. Interested parties may get in touch with the BAIPhil Secretariat at telephone nos. 831-0081 and 832-5890.

For information and guidance.

NESTOR A. ESPENILLA, JR. Sector In-Charge