Finding the right vendor to outsource real estate tax monitoring to isn’t always easy. For many institutions, it can be challenging to figure out if the vendor they are working with is providing them with the best services for their needs. When you switch to Info-Pro for real estate tax monitoring, you can rest assured that all of your accounts will be properly monitored with your institution’s best interests in mind. As we have discussed the last several weeks, Info-Pro offers unparalleled, customized property tax monitoring services. By focusing on parcel accuracy through our exclusive 3-on-3 verification system we are able to truly prevent delinquencies and ensure financial institution’s remain in compliance.
Today we would like to look at a specific case of how one institution benefited from switching to Info-Pro for real estate tax monitoring. It is our hope that this case study will show that Info-Pro stands as an advocate and partner for institutions of all sizes through our strong real estate tax monitoring services and commitment to customer satisfaction. If you are currently working with a property tax vendor that is not getting the job done or is creating a larger workload for you, it may be time to consider switching. There are numerous benefits of switching real estate tax monitoring vendors, some of which we will discuss below.
One Institution's Experience with Switching Vendors
A good real estate tax monitoring vendor will make sure your borrowers pay their taxes on time, prevent any delinquencies, and make sure there are no parcel discrepancies. Unfortunately, many vendors do not do this, as one Illinois institution found out. Let’s fill you in quickly before looking at how switching vendors worked to their advantage.
The institution’s loan portfolio was growing (thanks to multiple acquisitions), which meant so were the responsibilities of its Loan Servicing Team. Though this institution used a third-party vendor for property tax monitoring, that vendor often provided inaccurate or outdated information, causing the Loan Servicing Team to do extra work.
Enter: Info-Pro. In 2011 the institution began outsourcing real estate tax monitoring to Info-Pro in order to streamline their current process and reduce the number of hours they were spending on the escrow process. The transition to using Info-Pro was a seamless process that automatically began reducing borrower delinquencies and freeing up staff for other internal duties. Today Info-Pro monitors this institution’s portfolio, looking for tax delinquencies, reporting them, and providing on-demand reporting that pulls customized delinquencies on a daily basis.
By switching to Info-Pro, the institution was able to improve their internal business processes, reduce paperwork and duplicate search efforts, and prevent costly errors. We believe that a real estate tax monitoring vendor should offer customized service and do everything in their power to benefit the institution. To learn more about this particular case study or to schedule a consultation with Info-Pro to discuss outsourcing real estate tax monitoring, please contact us today.