LERETA, which offers tax reporting and flood services solutions for mortgage servicers, recently introduced a new, web-based platform designed to seamlessly integrate loan servicing and tax service data.
The software solution, dubbed Total Tax Solutions, provides a new level of automation to the tax servicing industry, the company says in a release. It features dashboards, reporting, workflow management and built-in servicer guidelines for tax payment processing activities.
Total Tax Solutions allow servicers to efficiently process a pre-cycle mini-audit, automate tax payments, open items, conduct tax research and review delinquencies and payments, the company says.
The platform includes five modules; Pre-Cycle Audit Manager, Tax Cycle Manager, Escrow Open Item Manager, Delinquency Manager and Task Research Manager.
“Existing loan servicing systems have limited capabilities when it comes to managing the functions required for taxes,” says John Walsh, CEO of LERETA. “This causes an increase in servicing costs and the potential for mistakes that can frustrate borrowers. Total Tax Solutions make it easier for servicers to process tax payments, research tax-related inquiries from borrowers or internal departments, manage delinquency reporting and risk and substantially improve customer service.
“The platform has allowed LERETA to deliver extraordinary service in an industry where the standard for outsource servicing is abysmal,” Walsh adds. “We are proud to now offer our standard tax clients a tool that effectively merges siloed systems and produces a more efficient and secure process.”
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