1123 Park View Drive
LERETA provides a flexible range of tax and flood services to a diversified group of over 4,000 lenders, servicers and other financial institutions nationwide, including some of the largest servicers in the industry.
LERETA gives customers the ability to protect their portfolio with the company’s tax monitoring services and provides both single determination and life-of-loan flood tracking.
“Our focus on tax and flood services allows our clients to focus on their highest priority — their customers,” said Jim Thornton, CEO of LERETA. “LERETA has a 28-year history of competing based on extraordinary customer service. Our continued success in new-client acquisition and almost 100% client retention is clear testament that our commitment to extraordinary service is both shared by our employees and visible to our customers.”
With Basic Tax tracking for escrowed loans, LERETA identifies tax agency and parcel identification numbers, acquires tax bills and amounts to pay, provides tax information via electronic media to debit escrow accounts, delivers tax payment checks and required media to agencies and provides online access to tax information and history.
Basic Tax tracking for non-escrowed loans includes an annual search on all loans for delinquent taxes, a follow-up search, collection of redemption amounts to pay and creating and mailing customized notices to borrowers.
“LERETA fully complies with all regulatory requirements in an effort to make our organization an excellent, reliable business partner,” Thornton said. “Our service is both extraordinary and flexible.”
LERETA offers both outsourcing and insourcing tax services, according to customer needs. With its Tax Outsource service, the company performs functions directly on the lender’s servicing system. This includes tax escrow disbursement and payment functions, delinquent tax processing, refund processing, mail service and researching and responding to customer service inquiries.
“First and foremost, our services are meant to protect our clients’ portfolio and thereby protect their customers from potential penalties or property losses,” Thornton said. “With the increased regulatory scrutiny over fees, our services are an invaluable tool to protect both the lender and the homeowner.”
LERETA’s Tax In-Source service allows the company to partner with the lender to create a revenue opportunity for the lender, while using the tax service company to provide data and systems.
“As the regulation environment becomes increasingly complex, we see an opportunity to help our customers stay focused on their business while we stay focused on protecting their portfolio,” Thornton said.
Jim Thornton, a CPA and MBA, started his professional career with Coopers & Lybrand in 1983 and joined LERETA Corp. in 1990. He managed its initial tax service operations, started its flood services division and launched the company’s formal sales, marketing and strategic development functions. Working with the company’s CFO, he was instrumental in the highly successful sale of LERETA Corp. to LandAmerica Financial Group in 2003.
In 2005 Thornton joined Marshall & Swift/Boeckh as CEO. In 2008, Thornton co-founded UP Holdings, LLC for the purpose of evaluating entrepreneurial opportunities and investments, which led to the purchase of LERETA, LLC in 2009. Thornton now shares in the ownership of LERETA, LLC and serves as its chief executive officer.
John Walsh joined LERETA in March 2014 as president. Previously, he was the president of DataQuick, a nationwide provider of real estate property information and mortgage settlement services. During the 20-year period prior to DataQuick, Walsh held positions as CEO and president at three technology companies, and also as an executive at Weyerhaeuser Mortgage.
Walsh sees LERETA’s growth over the last few years as a clear indication that the market wants a better alternative for tax service and for providing clients with innovative solutions.
Richard Yonis is a seasoned professional with a distinguished track record of leading business expansion and product launches encompassing sales management, marketing, strategic planning, business development and corporate operations management.
In 1995, Yonis began his career in the mortgage industry by opening several retail loan origination branch offices for National First Mortgage in Southern California.
In 2000, Yonis co-founded a private medical record and accounts receivable software company and in 2007 he became the national sales director for Henry Schein Medical Systems.
As LERETA’s SVP, national sales director, Yonis is actively involved in building and mentoring its sales team and vast external network of resellers.