5ACC offers comprehensive services to meet the needs of the default servicing market as well as real estate owner’s investors and property managers. State, City and County registration requirements are growing dramatically. Currently in the U.S., there are over 1,700 municipal registration requirements ranging from properties in default, vacant and rented. Penalties for failing to register timely range from $150.00 – $1,000 a day. With severe budget demands on municipalities, fines and penalties continue to grow.
5ACC also provides reporting services for HOA, unrecorded code violations, permit and zoning violations. This service provides buyers and sellers with the complete information necessary to ensure accurate pricing during transactions.
5ACC services multiple clients in the mortgage banking industry, including: loan originators, due diligence firms, investors, loan servicers, default and foreclosure firms, REO outsourcers, property preservation providers, auction companies, reverse mortgage companies, real estate agents and brokers, title insurance providers, escrow and closing companies, as well as consumers/home buyers.
5ACC designated fee structures are provided below by service. 5ACC, however, is flexible in its pricing to meet is client’s needs. For instance, 5ACC will advance filing fees for clients where appropriate.
5ACC has developed a patent pending proprietary enterprise class; automated workflow and rules technology that is web based using Java and .Net technologies, custom built to facilitate the 5ACC order fulfillment process. This leading technology ensures best practice orchestration of user-driven activities throughout each of the product fulfillment channels. The workflow and related rules provides 5ACC with a proactive rather than reactive approach to order fulfillment practices. System enhancements help to support refined business operations practices using rules based data integrity and screen controls validations. Intelligence captured during order processing through a single city or county is captured and reused, so the steps do not have to be retraced for each order for that city or county. The leveraging of existing intelligence at the property-level, jurisdiction, city, county and related data references help to drive efficiencies in practice and help to achieve a lower cost in operations to fulfill services.
Turn key management of property registration and ordinance compliance for notice of default, pre-foreclosure, vacant property, transfer of deed, tenant, landlord, renewal, and deregistration requirements based on municipal statutes.
Determine whether the property must be Registered according to our proprietary national database of all municipal ordinances. 5ACC delivers a report with over 30 unique data points to determine our client’s obligation for registration per property on a national basis.
Audit of complete loan portfolio to determine if services’ vendor has accurately complied with Obligation to Register and all facets of Municipal Registration Compliance.
Audit of Municipal Code Violation Resolution successes as performed by current service providers.
5ACC provides services for the negotiation, reduction, and resolution of code violation liens, fines and penalties. If required, coordination of efforts between local municipalities and Client to address property specific inspection, preservation, and/or repair requirements. Fee structures are flexible and can be based exclusively on performance.
Disclosure reports provide specific support documentation which identifies unrecorded municipal code violations, fines, and unrecorded lien issues. Delivery of 5ACC findings for property code violations range from individual property reports with full support documentation from the respective municipality to export reports with basic violation data per property in an excel spreadsheet format. 5ACC also has a Yes/No product priced at $45/$55 for investors and due diligence firms.
Municipal code violation disclosure report adding real estate tax search, delinquent taxes, special assessments, municipal code violation and liens, open and expired permits, and all municipal utilities. The Florida Tax and Lien report is customary on all residential closings in the state of Florida.
Determine HOA(s) for respective properties. Provide contact, demand or estoppel certificate, Ledger or Statement and collections information (if applicable). Determine if any HOA violations are present. ($150 plus Associated Fees to include all docs or priced individually) – FHA Certification, HOA Docs, Title Closing Package, Lender Questionnaire, Budgets, By Laws, Articles of Incorporation, Covenants, Rules/Regulations/Policies, Financial Statements, Board Meeting and Annual Meeting Minutes.