Fahe is a 501(c) non-profit agency focused on an effort to create housing, promote community development and improve quality of life in the six Appalachian states it serves. "Read More→" Leading more than 55 organizations, including affordable housing and community development nonprofits, Fahe has created or improved 91,000 homes and made over $469 million in direct investments during the past 30 years, with 59 percent of these efforts occurring in the last five years. Fahe envisions Appalachia as a place where growth and opportunity are balanced and accessible so that everyone can fulfill his or her housing potential, employment, educational opportunity and quality of life.
The Challenge – Manual, Laborious Processes
Before selecting LERETA to provide tax services, Fahe had a heavily manual process in place for tracking property taxes on their mortgage loans. The lack of automation and substantial reliance on paper was detrimental to the organization’s overall efficiency. Late fees, penalties and interest all became a liability and stress point for the organization.
“Our process prior to LERETA was so manual and paper intensive that it was nearly impossible for our staff to keep up with the workload,” said X, X at Fahe. “We became overwhelmed and frustrated, causing us to even occasionally miss payments and fall behind.”
The Solution – Streamlined Operations
With LERETA, Fahe was empowered to leverage automation in its processes, from adding and deleting to auditing files and ensuring that property taxes for all new loans were being tracked and monitored. Since then a payment has not been overlooked.
“Streamlining our tax payments has drastically changed the way we do business,” continued (Fahe representative). “It’s also saved our escrow department a great deal of time, allowing us to dedicate more of our focus on our customers and the impact we hope to make in our community.”
LERETA also provided Fahe a much-needed update to its online presence, allowing the organization’s website to house important payment information to facilitate the acceptance of donations.
The Result – Superior Service, Increased Efficiency
In addition to streamlining previously labor-intensive tasks, LERETA has provided Fahe with a high level of customer service. “LERETA has been a great partner to work with. I have found the staff to be very helpful and capable. When we have a question or concern, customer service representatives are always available to help and respond in a timely, efficient manner,” (Fahe representative) said.
“Other tax service providers contact us, but my answer is always the same: ‘No thank you, we’re very happy with the service LERETA provides us.’”
Since 1986, LERETA has provided the mortgage and insurance industries the fastest, most accurate and complete access to property tax data and flood hazard status information across the U.S. LERETA is committed to giving customers extraordinary service and cost-effective property tax and flood solutions. LERETA’s services are designed to increase efficiency, reduce penalties and liabilities and improve processes for mortgage originators and servicers. LERETA’s dedicated teams of real estate tax and flood professionals along with LERETA’s experienced management team allow the company to lead the industry in service and technology.