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Servicing / The Ticker

LERETA, LLC Announces Acquisition of QBE Property Tax Solutions

LERETA’s Chief Executives, Doug Foley and Jim Thornton, welcome QBE Tax customers to the LERETA family

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LERETA, LLC, a leading national real estate tax and flood determination services provider owned by LERETA executives Doug Foley and Jim Thornton, and a private investment group managed by Tarsadia Investments, LLC, announced today that it has acquired the real estate tax services business of QBE. QBE is a leading provider of lender-placed and residential property insurance.

LERETA and QBE Tax each offer a comprehensive suite of real estate tax and outsourcing services, supported by the most innovative technology in the industry. Combined, their complementary technology platforms will enhance service to existing customers, and will raise the bar in the industry for innovative technology solutions.

As part of the transaction, LERETA will maintain operational facilities on the east coast currently occupied by QBE Tax staff. This combination of LERETA’s corporate headquarters and tax and flood operations on the west coast with QBE Tax’s operations in facilities on the east coast will positively impact thousands of LERETA and QBE Tax customers nationwide, and provide additional scalability to support future growth.

“LERETA is known for their extensive offering of Real Estate Tax Services, experienced management team, and client-centric culture,” stated Matt Freeman, an Executive Vice President of QBE.

“With the combination of QBE’s and LERETA’s tax businesses, the company will be well positioned to set a new standard in service and we will partner together to ensure a smooth transition for all QBE clients. Additionally, QBE will continue to focus on growing our insurance business. We are committed to the mortgage servicing industry, and are proud of our reputation as the most compliant, diversified and committed provider.”

LERETA President Jim Thornton stated: “LERETA and QBE Tax have both built solid reputations in the industry as high quality service providers and innovators. We are excited to combine our strengths to offer the industry the most comprehensive, innovative suite of Tax Service products available today. Our teams share a common “customer focused” culture, and as we bring our customers together we will continue our tradition of providing extraordinary service and customized solutions to meet our customers’ needs. We are excited to share this news with all our great customers and to welcome QBE Tax customers to the LERETA family.”

In a statement from LERETA CEO Doug Foley, he reported, “We are thrilled to announce our acquisition of QBE Tax, and are confident that our substantial experience, technology platform and systems, and broad industry expertise will accomplish our goal of a very smooth transition for our new employees and customers alike. LERETA has over 27 years of experience in the mortgage services industry, with average employee tenure of over 15 years. The depth, experience, dedication and ingenuity of our people, combined with the strength and flexibility of our ever-evolving systems, fuels our competitive advantage on a nationwide basis. We are proud of the LERETA name and our reputation as an industry leader, and we continue to embrace the values that first made our brand synonymous with extraordinary service. With our commitment to problem-solving and providing the highest standard of service in the industry, we pledge to carefully listen and respond to our new and existing customers’ issues and concerns. We are strong, healthy, and excited about the growth prospects and opportunities to continue to serve the changing needs of the mortgage servicing industry.”

FOR  MORE INFORMATION CONTACT:

Jim Thornton
Phone: 626-667-1492
Email: jthornton@lereta.com

ABOUT LERETA, LLC: LERETA, LLC continues in the tradition of LERETA Corp. Founded in 1986, LERETA has been a major force in the Tax and Flood Service industries since its inception. LERETA provides a full suite of Real Estate Tax Services for residential and commercial loans on a nationwide basis, including automated online research and certification, tax bill processing, a suite of delinquent tax services, and customized tax outsourcing service programs. LERETA also provides nationwide real-time Flood Zone Determination Services. For more information, visit www.lereta.com.

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