Proprietary systems designed by FNA provide due diligence and collateral monitoring. Systems provide wide-ranging data on delinquent taxes, parcel history, parcel details, and owner information that allows management to analyze investments and profitability. Collateral monitoring systems provide up-to-date information on liens, payments, legal proceedings, and ongoing operational data. Where appropriate, systems incorporate inspection data and pictures from in-person inspections.
Many of FNA’s senior managers have decades of experience purchasing and servicing tax liens in a variety of jurisdictions. This experience allows us to partner more effectively with municipalities, to avoid pitfalls often experienced by tax lien buyers, and to more rapidly and efficiently liquidate property that is acquired through the tax lien process.
Our long experience has taught us that there is no substitute for fully understanding a property prior to buying a tax lien on it. The riskier the investment, the more diligence we do. It’s a time consuming, labor-intensive process to review detailed legal files or to visit and inspect thousands of properties each year, but the difference is clear in our results.