Two of America's most established note buyers — one bank-backed, one tech-powered
FNAC (First National Acceptance Company) brings 50+ years of bank-backed stability. NBOA brings AI-powered pricing and a $500 guarantee. Both are A+ BBB accredited.
| Factor | NBOA | FNAC |
|---|---|---|
| Founded | 1997 (29+ years) | 1974 (50+ years) |
| Backing | Independent + 90 investors | Subsidiary of FNBA (est. 1955) |
| Average Close | 21 days (5-day fastest) | ~30 days (17-day fastest) |
| Close Rate | 100%* | Not stated |
| Price Guarantee | $500 Better Offer Guarantee | Not stated |
| Technology | AI-powered platform | FastQuote form |
| Seller Fees | $0 | $0 |
| BBB Rating | A+ Accredited | A+ Accredited |
| Reviews | 5.0 (10 Google) | 4.8 (38 BBB), 21 Yelp |
| Model | Hybrid (direct + 90 investors) | Direct (bank-backed, in-house servicing) |
| Note Types | Performing, non-performing, all types | Performing 1st-position only |
*On deals without title or legal defects.
NBOA averages 21 calendar days from accepted offer to funded close, with a fastest recorded close of 5 days. FNAC states closings take less than 30 days (26 business days), with testimonials showing some closings in 17 days.
The difference is roughly a week on average. For most sellers, either timeline is reasonable. But if speed is critical — say you need cash for a time-sensitive investment — the gap matters.
FNAC's biggest advantage is institutional backing. As a subsidiary of First National Bank of America (established 1955), they carry the weight of a regulated banking institution. They service all purchased notes in-house for the life of the loan, which provides additional continuity for borrowers.
NBOA brings 29+ years of independent operation with A+ BBB accreditation, zero complaints, and a 5.0 Google rating. The $500 Better Offer Guarantee and no re-trade policy add formal seller protections that FNAC doesn't advertise.
Both companies charge zero seller fees. NBOA's hybrid model (direct buying + 90 investor network) creates competitive tension that can drive higher offers for your specific note profile. FNAC buys direct with their own capital, meaning pricing is limited to their own parameters.
FNAC focuses on performing, first-position notes only — single-family, multi-family, farmland, commercial, and mobile homes with land. NBOA purchases a wider range of note types including non-performing notes, which makes NBOA the better option if your note doesn't fit FNAC's narrower criteria.
NBOA operates an AI platform (NotePilot) for automated valuation, document analysis, and deal tracking. Sellers get a portal to monitor their transaction from quote to close.
FNAC offers a "FastQuote" online form and educational content. Each seller gets a dedicated Loan Acquisitions Officer who guides them through the process. Their approach is more traditional but hands-on.
Both NBOA and FNAC are excellent options. You're choosing between two A+ BBB-accredited companies with long track records.
Both are A+ BBB-accredited note buyers. NBOA closes in 21 days on average, offers a $500 Better Offer Guarantee, and uses AI-powered pricing. FNAC is bank-backed (subsidiary of FNBA), has been in business 50+ years, and services purchased notes in-house.
FNAC states closings average less than 30 days (26 business days). Testimonials show some closings in as fast as 17 days. NBOA averages 21 calendar days with a fastest close of 5 days.
FNAC is a subsidiary of First National Bank of America, established in 1955. They are bank-backed and service all purchased notes in-house for the life of the note.
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