Tax Topics: 5 Reasons to Reconsider In-House Tax Services

How painful was Q4 tax season? Don’t relive the nightmare of last year. LERETA’s flexible solutions are designed to support diverse business rules and the unique nuances of your portfolio and processes.

  1. Increase Efficiency.
    For all its benefits of speed and cost savings, automation can cause errors, and these errors create disruptions for servicers and confusion for borrowers. While manually reviewing each loan is impractical, LERETA has found a was to balance the speed and efficiencies of automation with hands-on service to ensure clients start their experience with a foundation of accurracy.
  2. Cost Control.
    A general rule of thumb is to add an additional 25 to 30% into employees’ salary for additional overhead. For a mid- to mass market lender/servicer, it is unlikely that your costs to outsource to a professional tax vendor would meet or exceed the costs of keeping this function in house.
  3. Customer Satisfaction.
    At LERETA, we assess our worth by constantly evaluating how much value we bring to our customers. LERETA’s Outsources Tax Service recently received a 100 Net Promoter Score — which is considered the highest level of excellence.
  4. Technology.
    Leverage innovation and technology with 99.9% SLA performance. LERETA’s applications provide true visibility into the workflows of each primary function of the servicing cycle. LERETA’s technology decreases operational costs and risks leading to an improved borrower experience through seamless data integration.
  5. Expertise.
    There are more than 24,000 local taxing jurisdictions in the U.S. and each one has its own set of unique nuances — payment requirements, due dates, office hours, etc. — that are constantly changing. A dedicated team to manage these agency relationships and manage changes is crucial to avoiding penalties.

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