Our Comprehensive Asset Management System is outlined below in four Strategies.

Asset Identification
We review bank documents and identify the entire bank-owned assets within a development, utilizing on-line/on-site county tax and GIS services, conduct field inspections of each asset, identifying and evaluating the competition, and evaluating the area. We also work with Bank’s asset managers and asset specialists to retrieve as much information as possible on the asset prior to site inspections. Where necessary we identify engineers, builders and other contractors to obtain missing information, such as plats, soils reports, building specs and permits.

Asset Preservation

We identify all entitlements for the property including zoning, permit expirations, safety issues, regulatory and compliance issues, letters of credit status, etc., thus stabilizing the asset in terms of expirations and extensions. When developmental issues exist because of work stoppages such as silt fencing violations, construction violations or other issues. We work with local contractors to bring property in compliance with local and state regulations and thus suitable for sale. Our team identifies any existing Home Owner Associations (HOA), ascertains their financial health, organizational status and makes recommendations on how the particular HOA can help preserve the asset. Where the lender is the Declarant, full oversight including engaging an HOA management company, setting and monitoring operational standards, turnover to homeowners, etc.

Asset Valuation

We identify, inspect and evaluate competing properties (comparables) to assist in pricing the REO. To the extent possible, we utilize industry marketing research firms to evaluate demographics and market history and to classify comparables to reduce the amount of field-work required. Our team identify the overall inventory available for sale in the marketplace, and makes strategic pricing recommendations and recommendations on how and to whom the asset could be effectively marketed. We make strategic recommendations regarding product, planning, zoning, density, etc., to broaden the appeal to diverse developer/investor/buyer groups in an effort to reach those with sound plans and strong financial capabilities.

Asset Disposition

From the REO data collected and evaluated, TIAS has developed a system to determine the disposition of any given asset thereby giving our clients a leg up. The summary includes essential facts, figures and photos of the REO as a reference resource for the lender.