LERETA offers flexible spectrum of tax services
Generates significant cost reductions for lenders and servicers
LERETA, a nationwide provider of real estate tax and flood zone determination services, remains dedicated to providing extraordinary customer service as it continues to evolve its products and services. The company has served the mortgage industry for nearly three decades and adds 10 to 20 new clients each month to an already robust list of more than 4,000 mortgage lenders, servicers and industry related customers.
LERETA’s comprehensive spectrum of property tax services ranges from tax insourcing to standard tax tracking for both escrowed and non-escrowed loans, as well as a complete tax outsourcing program for loan servicers. The company also provides real-time flood zone determination services that range from simple delivery of flood zone determinations to complete portfolio life-of-loan tracking.
“With almost 30 years in business and a management team with an average of 20 years in the industry, LERETA is the industry’s most experienced tax vendor,” said CEO John Walsh, who took the helm in September 2015. “LERETA exclusively focuses on tax and flood services, allowing us to provide the best services and customer experience.”
LERETA’s products and services help generate significant cost reductions for lenders and servicers, increasing their operational efficiencies and improving their relationship with borrowers, investors and regulators.
All of LERETA’s services, whether they involve products, services or technology, are available on a flexible basis to meet customers’ individual needs.
“We understand that customers have different needs,” Walsh said. “Our services are offered through a menu approach, allowing customers to select only those services that work for them.”
The company helps customers navigate through the system architecture options for taxes in each state and data exchange alternatives by performing continuous research, deploying advanced systems and engaging in strategic partnerships. In addition, LERETA keeps a close eye on ever-changing compliance requirements.
“We remain vigilant to ensure we comply with all CFPB rules,” Walsh said. “Specifically, our disaster recovery program, business continuity and IT security are all state-of-the art, providing our customers with peace of mind.”
Going forward, LERETA’s biggest opportunity for growth is in its ability to reduce risk for its customers while protecting their portfolios from potential penalties or property losses. Tax tracking and reporting, especially for states with multiple tax cycles, has become a liability that financial institutions simply do not want to risk.
“The simplest solution is to use LERETA tax services, which can augment the existing institution’s services without increasing costs,” Walsh said. “As this is LERETA’s core business, we see nothing but an opportunity to help our customers help their borrowers.”
John Walsh, CEO
John Walsh assumed the role of CEO in September 2015. Walsh leads an executive leadership team focused on providing the mortgage and insurance industries accuracy, responsiveness and innovative technology. Walsh has more than 20 years of senior management experience in the financial services industry and more than 10 years leading technology firms. This includes previously serving as president of San Diego-based companies DataQuick and Del Mar Database.
Walsh also was president of RF/Spectrum Decision Science Corp. and was chairman and CEO of PureCarbon, Inc. Additionally, he has held executive management positions at Weyerhaeuser Mortgage, SeaFirst Bank and All Pacific Mortgage.
JIm Micali, COO
Jim Micali, COO, started his professional career as a turnaround consultant assisting distressed manufacturing and service companies through his expertise in operations management, process design and improvement and quality management. In 1995, Micali focused on the financial services industry. In 2002, Micali was recruited by Countrywide Financial Corp. to lead the continuous improvement organization for subsidiary Balboa Insurance Group. Micali has held a variety of leadership positions at Countrywide and Bank of America. In 2013, Micali joined LERETA as COO to lead the tax and flood services divisions.
Richard Yonis, SVP and National Sales Director
Richard Yonis, SVP and national sales director, has a distinguished track record of leading business expansion and product launches. In 1995, Yonis opened several retail loan origination branch offices for National First Mortgage. In 2000, Yonis co-founded and operated, as president, a private medical records and accounts receivable software company. In 2007, he became the national sales director for Henry Schein Medical Systems. As LERETA’s SVP and national sales director, Yonis is actively involved in building and mentoring the sales team and vast external network of resellers.