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LERETA

1123 Parkview Drive
Covina, CA 91274
626-339-5221
www.LERETA.com

Making a positive difference for its customers is LERETA’s core objective, and the company meets that goal by combining accurate, complete real estate tax data with efficient accurate reporting and responsive customer service. The result? Customers with the lowest loss experience in the industry.

“We take a ‘high-touch’ approach to customer service, with account managers and operations personnel working closely to ensure the highest service levels to borrowers, at the lowest cost of servicing for the customer,” said John Walsh, president of LERETA.

LERETA purchases thousands of data files each year to support customer activities that span the mortgage lifecycle — everything from up-front originations support and due diligence to servicing support in every area. This includes monitoring current and delinquent taxes, default support and compliance.

“LERETA is constantly acquiring new sources of data, and developing new databases and applications to enhance our product and service offerings,” Walsh said.

The company works with more than 25,000 tax collectors nationwide to get the correct agency and tax identification numbers for a property, determine if there are any outstanding delinquent taxes, and obtain the tax amount to be paid if the loan is escrowed. It also clears exceptions and promptly reports the information to customers for maximum efficiency.

LERETA combines raw current and delinquent property tax information with current property tax assessment data, customer loan information, customer property tax payment data housed on the servicing system, and customer business rules. This combination of data is processed through proprietary systems and software developed over LERETA’s 28-year history.

“LERETA’s innovative technology team has developed solutions that easily manage the necessary data to ensure customers understand their risks and limit their compliance exposure.  We’re continuously improving both our systems and our data accuracy so we can continue to provide our clients a unique service experience,” Walsh said.

The company’s experts in loan servicing compliance and processing not only help customers with their daily processing requirements, but also helps them avoid potential future violations of compliance requirements. For example, LERETA’s experts can perform due diligence on acquired loan portfolios to alert customers to potential existing out-of-compliance conditions.

“LERETA’s thorough processing systems and techniques alert customers to other potential compliance issues, prior to such issues creating compliance violations,” Walsh said. “For example, auditing tax lines set up on the servicing system to identify potential problems that would create potential penalties and losses if not cured prior to the applicable property tax cycle payment date.”

The company’s nationwide knowledge of real estate property tax monitoring and payment processing allows LERETA staff to anticipate potential tax collection agency delays and issues, and act proactively to avoid customer compliance violations that often result from such delays, Walsh said.

LERETA recently enhanced its delinquent tax database and can provide customers with a robust set of delinquent property tax data to evaluate acquired loan portfolios.

LERETA’s customer-focused approach includes flexibility in providing service to customers — from customized reporting features to special IT development projects to accommodate special customer needs.  LERETA’s singular attention to customer service has resulted in an extraordinarily high Net Promoter Score (the percentage of customers who would refer LERETA to other lenders) and an almost 100% client retention rate over the last five years.

“As LERETA expands its data inventory and related applications, customers will have even better access to analytical tools to evaluate the compliance status of their current portfolio and new loans to be added. LERETA’s goal is to provide the information needed in a meaningful format and to put that in our customers’ hands.   After all, analytical information is paramount to assisting in the decision making process and our ultimate goal is to always positively impact our customers and we will continue to actively pursue this goal,” Walsh said.

For more information on LERETA’s Tax and Flood services, visit LERETA.com.