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Are you concerned about your risk?
Are you sure you are aware of all of your properties that have delinquent real estate taxes?
Do your employees have the expertise to search all of your mortgage loans, no matter where in the U.S. they are located?
If a delinquency is missed, who is responsible?
When we meet with new customers for the first time, it is not uncommon that their current process for conducting delinquency tax audits is to shift employees away from their regular responsibilities. Frequently, the “Audit” consists of little more than a few loan officers or servicing employees reviewing a delinquent tax roll. Why trust this important task to employees who do not specialize or have the experience to do it right? Why take this chance?
INFO-PRO®’s delinquency tax audit provides your institution with the security of a dependable risk management solution by conducting an extensive annual audit of your mortgage portfolio for delinquent real estate taxes, and insuring the results with a $1,000,000 E & O policy.
The delinquency tax audit commences after the close of the tax agencies’ fiscal period, which varies by county and state. We will perform the audit after allowing the county tax offices sufficient time to register all of the payments and we search properties throughout the U.S. Our search methods vary by county and include traveling to and performing the search in the county office, mailing or faxing search requests to the county treasurer/tax collector, placing phone calls to county treasurer/tax collector, searching on-line via public access, searching on-line via subscription-based access, etc.
Upon completion of the audit, you may then choose how to resolve the situation with any delinquent borrowers. The INFO-Exchange® website includes several reporting tools to help you view delinquencies and you can even use it to generate detailed letters to advise your borrowers of delinquent taxes.
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