LERETA, a nationwide provider of real estate tax and flood zone determination services, remains dedicated to providing extraordinary customer service even as it continues to evolve its products and offerings. The company has served the mortgage industry for almost 31 years and adds 10 to 20 new clients each month to an already robust list of more than 4,000 mortgage industry and insurance customers.
LERETA’s comprehensive spectrum of property tax services range 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.
It 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 31 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.
These products and services help generate significant cost reductions for lenders and servicers, increasing operational efficiencies and improving their relationship with borrowers, investors and regulators.
And all of LERETA’s services, whether they involve product, delivery or technology, are available on a flexible basis to meet customers’ individual needs.
“We understand that customers have different needs. Our services are offered through a menu approach, allowing customers to select only those services that work for them,” Walsh said.
The company helps customers navigate through the maze of system architecture options and data exchange alternatives by performing continuous research, deploying advanced systems and engaging in strategic partnerships.
In addition, LERETA keeps a close eye on compliance.
“We remain vigilant to insure we comply with all CFPB rules. Specifically, our disaster recovery program, business continuity and IT security are all state-of-the art, providing our customers with peace of mind,” Walsh said.
Going forward, the company’s biggest opportunity for growth lies in its ability to reduce risk for its customers while protecting their portfolio 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 don’t want to risk.
“The simplest solution is to utilize 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 the opportunity to help our customers and help their borrowers.”
John Walsh, CEO
John Walsh assumed the role of CEO in September 2015. 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.
JIm Micali, COO
Jim Micali, MBA, started his professional career as a turnaround consultant assisting distressed manufacturing and service companies. In 2002, he was recruited by Countrywide Financial Corp. and over the next 10 years held a variety of leadership positions throughout Countrywide and Bank of America. In 2013, he joined LERETA as COO to lead the tax and flood services divisions.
Richard Yonis, SVP and National Sales Director
In 1995, Richard Yonis began his career in the mortgage industry by opening several retail loan origination branch offices for National First Mortgage. In 2000, Yonis co-founded and operated a private medical records and accounts receivable software company. In 2007, he became the national sales director for Henry Schein Medical Systems. At LERETA, Yonis is actively involved in building and mentoring the sales team and vast external network of resellers.