SLK Global Solutions, offering technology solutions for the banking, mortgage and title industries, has launched a new product for mortgage servicers called RETS (real estate tax services).
The “client-centric” tax service is for commercial and residential portfolios.
“Property tax assessment protocols and tax collection procedures are complex, as they vary significantly by county, region and jurisdiction,” says Scott Friberg, president of the tax division at SLK Global, in a release. “Moreover, it is very important for lenders to stay up to date on the latest tax changes. A slight miscalculation can have a considerable financial impact.
“We realized quickly that while the servicers were submerged in managing all of this, they were diluting their core focus of helping customers and delivering superior customer service,” Friberg adds. “By taking care of their tax servicing responsibilities, we wanted to reinstate their focus and enable them to invest their valuable time and resources on growing their business.”
The service provides the domain expertise servicers need, SLK Global claims. What’s more, it can be customized based on lending habits and portfolio attributes.
As Friberg explains, the solution offers “a robust and interactive user portal with real-time access to property tax information and is compliant with all regulatory requirements for third-party service providers.”