National Tax Search Launches PACE Research Services
Identifies and Proactively Manages PACE Loans to Protect Real Estate Stakeholders Against Delinquencies and Debilitating Tax Liens
Chicago, IL – May 21, 2018 – National Tax Search, a leader in limiting client exposure to unforeseen collateral loss related to unpaid tax, HOA fees or inaccurate flood determination, today announced that it has expanded its portfolio of technology and services to include PACE loan determination and payment servicing.
PACE (or property assessed clean energy) lending programs have surged in recent years. These loans represent a great deal of risk when hidden in commercial or residential asset portfolios. Research shows that in some states, the average default rate of PACE loans climbed from 0.9% in 2015/2016, to 1.6% by August of 2017. The average PACE loan is about $25,000, but unpaid balances grow quickly; they accrue additional interest 18% annually.1
For more than 20 years, National Tax Search has offered proven solutions and services designed to reduce risk for real estate lenders, investor and owners. The company now provides comprehensive PACE loan research to reveal any PACE liens within a real estate portfolio, reducing the risk of hidden PACE liability. The NTS platform is fully integrated with the lender’s system of record, so PACE loans can be identified and proactively managed without disrupting the standard workflow of the organization. NTS offers two programs to address PACE loans: 1) A one-time portfolio assessment, or, 2) Ongoing PACE loan monitoring. Both mitigate PACE lien risk before foreclosure, reducing risk of loss.
The company’s new, comprehensive PACE loan research reveals PACE liens within real estate portfolios of any size. National Tax Search is the clear choice for relationships and expertise to protect against PACE delinquencies and debilitating tax liens with a complete set of services including:
- Identification: Research of all parcels to determine if a PACE loan exists in portfolios.
- Certification: Parcel address, taxing authority, assessed or reassessed loan value, documentation to identify the PACE lien on the property
- Payment: Management of PACE payoff amounts when available
- Reporting and Monitoring: Ongoing reporting services such as special assessments and payment activity, delivered upon tax installment due date.
National Tax Search is showcasing the new PACE solution this week at the MBA Commercial/Multifamily Servicing and Technology Conference in Miami. Visit experts in booth 10 to learn how National Tax Search can reduce your risks associated with PACE loans. Or, contact NTS at firstname.lastname@example.org to schedule a detailed risk reduction consultation.
1. Wall Street Journal, August 20
National Tax Search CEO to Speak at the 2018 Single-family Rental Summit
Lori Eshoo Shares Expertise to Help Real Estate Investors and Servicers Reduce Risk
Chicago, IL – March 16, 2018 – National Tax Search, a leader in limiting client exposure to unforeseen collateral loss related to unpaid tax, HOA fees or inaccurate flood determination, today announced that Lori Eshoo, Founder and CEO, will speak at the 2018 Single-family Rental Summit, taking place March 19-21 in Nashville, Tennessee. Lori, an industry veteran pulling from more than 30 years of experience in commercial and residential valuation and tax compliance, will be a panelist in the session titled Issues in Local Governance.
What: “Issues in Local Governance”
When: March 20, 1:30 PM to 2:15 PM
Where: Single-family Rental Summit | Renaissance Nashville Hotel | Nashville, Tennessee
Why: Over the past several years, there have been many changes to tax delinquency processes that can negatively impact investor portfolios. For instance, in certain states, delinquent taxes can cause assets to go into tax sale more quickly than they would have moved several years ago. In addition to understanding those complexities, single-family residential investors also need to be well versed in the nuances of HOAs. This is particularly true in super lien states, where management companies can take first position on outstanding delinquent HOAs over lenders. Lori will provide expert guidance to help attendees navigate processes in delinquent tax sales and HOA payments, dramatically reducing investment risk.
While the single-family rental market continues to redefine its borders, the investment landscape offers opportunity for many in a marketplace that has often been misunderstood. Navigating this dynamic terrain takes careful planning and strategic partnerships. The 2018 Single-Family Rental Summit provides a conduit for SFR leaders to have the important conversations that will push this industry forward. Top subject matter experts and skilled SFR practitioners will lead discussion panels and training sessions that will answer questions and offer viable solutions related to property acquisition and management, financing, strategies for small, mid-cap, and large investors, and new developments related to technology and professional services.
To meet with National Tax Search during the summit, contact email@example.com or visit executives at booth number 17.