Let’s face it—tax season is a stressful time of year for lenders. During this busy season, lenders must work with numerous tax agencies in order to get the information they need regarding tax amounts and due dates for their entire loan portfolio. As you know, this is no easy feat. However, there is a solution to reduce the burden on lenders. By working with a trusted property tax company that will do all the legwork, lenders will have a smoother tax season, and be better able to serve their customers.
How Can a Property Tax Company Help My Institution?
Outsourcing property tax monitoring to a trusted vendor is a great way to improve customer service, for one, and reduce stress for the lender—particularly when it comes time for paying taxes. Depending on the vendor you go with (this is important), all the paperwork and hunting and pecking for data is done behind the scenes and presented in a clear and concise manner. This not only saves time on the part of the lender, but it provides the borrower with peace of mind, which is the best customer service there is. Let’s look at a few additional ways working with a property tax company can simplify tax season for the lender:
Allows the lender to focus on improving customer relationships. By outsourcing tax services to a trusted property tax company, the lender can in turn focus on other priorities. By not having to spend countless hours pinning down tax amounts and other pertinent information for each and every mortgage, lenders will have more time to provide support for customers and attend to other needs.
More concise data management. A good property tax company will have the technology and capabilities to track down tax data and provide it to lenders in a clear and concise matter that can be accessed online. This is huge, as it saves the lender time and also allows them to view data online, whenever necessary. On-demand reporting is an absolutely critical service for lenders that a good property tax company can provide you with.
Prevent delinquencies. Ensuring that borrowers have all the information they need to pay their taxes on time is an absolutely critical service. Thankfully, a knowledgeable property tax service company can help you do this, working to simplify the process overall.
There are many ways in which a property tax company can be of service to lenders during tax season, some of which we went over above. To learn more about why lenders should consider working with a property tax company – particularly to benefit their customers – download our most recent ebook, How Working with a Quality Tax Servicer Improves Your Customer Services and Saves Borrower Money.