Frequently Asked Questions about our real estate tax services and flood determination services.

tax services

When and how often does LERETA provide delinquent tax information? Are searches monthly or quarterly?

LERETA performs an annual delinquent search can offer out of cycle delinquent searches, such as quarterly or monthly. 

My business is growing and I need to additional collateral to my contract. Can I do this?

Yes, additional collateral can be added to your contract. Please contact our customer service team to learn more.

How do I find property tax amounts due, loss of discount and delinquent dates?

This information and additional tax collecting agency information can be found on our web portal, LERETAnet.

Does LERETA provide tax due dates and amounts due for escrow loans?

Yes.  Tax amounts for escrowed loans are reported as each installment comes due and is payable. LERETA maintains a calendar driven system that schedules when reporting will occur based on the release of tax information from agencies and delinquent dates.

How do I perform an audit on my loans?

You can pull your own loan level audit directly from LERETAnet. If a lien level audit is needed, a LERETA professional can assist with this service. Please contact your account manager or Customer Service Team.

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Flood Services

I need a replacement flood certificate. Can LERETA provide a copy of my certificate?

Yes. You can obtain a copy of your certificate on LERETAnet or by contacting our Flood Customer Service Team.

I need a flood certificate right now. Can LERETA rush my request?

99% of our flood certificates can be generated instantly. 96% of manual searches are processed within 4 hours and 99% of manual orders are processed within 24 hours. However, if you need a certificate sooner than this please contact our Flood Customer Service Team and they can expedite your request.

I need to change the bank name and loan number on a flood certificate. Can I do this?

Yes. We can change/update information on your flood certificate at your request. Please contact our Flood Customer Service Team for more information.

I need a map of the flood zone to accompany my flood determination. Can LERETA provide a copy of this?

Yes, we can provide a copy of a map exhibit or overlay illustrating the information provided on your flood zone certificate.

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Acquired Loans - Any loan acquired in whole or in part, directly or indirectly, by the SERVICER (including, but not limited to, a loan acquired by purchase, by merger or consolidation, or otherwise) from and after the Effective Date, and any loan for which SERVICER acquires the servicing rights or primary servicing responsibility from and after the Effective Date.  The term “Acquired Loans” shall not include any loan acquired by SERVICER pursuant to a wholesale loan brokerage, loan correspondent or similar agreement.

Agency - Any federal, state or local governmental authority having jurisdiction to impose and collect real property taxes pertaining to the real property(ies) that is (are) the subject of the mortgage loans serviced by SERVICER.

Affiliate - Any direct or indirect subsidiary of SERVICER which originates or services real estate secured loans.

Borrower - An individual and/or entity obligated on a Loan secured by a Deed of Trust.

Deed of Trust - The deed of trust, mortgage or other security document or instrument creating a lien on an interest in real property securing a Loan or Loans.

Escrowed Loan - A loan that has an escrow/impound account to pay any Property Tax bill for which SERVICER requests Services under this Agreement.

LERETA Systems - The systems used by LERETA in supplying Services.

Loans - The first or second mortgage loans owned by SERVICER or serviced by SERVICER on behalf of others (or in either case, by SERVICER’s Affiliate) on or after the Effective Date.

Non-Escrowed Loan - A loan that does not have an escrow/impound account to pay Property Tax bill for which SERVICER requests Services under this Agreement.

Payee - The appropriate taxing authority to which Property Taxes are to be paid.

Property Taxes - Ad valorem real estate taxes and special assessments for which the taxing authority requires payment with the ad valorem taxes assessed by state or local governmental authorities against the property securing the Loans.

Prevailing Rates - The rates for Special Services customarily charged by LERETA at the time Special Services are provided to SERVICER.

Services - The Tax Services and any Special Services provided under an Agreement or Statement of Work executed by the parties, along with the professional, management, labor and general services, together with any materials, supplies, tangible items or other goods Supplier furnishes in connection with the Services.

Servicing System - The servicing system(s) of record used by SERVICER to service the Loans.

Tax Line - A detailed data set at a parcel level that includes all elements necessary to track real estate tax status and make payments to the Property Tax Collector on the Servicing System, including Loan number, payee name, due date and cycle frequency information.

Tax Service Contract - An agreement by LERETA to place the real property security for a single loan under tax service. 

Tax Service Conversion - Placing Existing Loans and/or Acquired Loans under tax service Contracts with LERETA.

Tax Status Report (TSR) - An on-demand current delinquency status report, including redemption data.

Third Party Tax Sale - A tax collection process (event), initiated by an Agency, which takes place after property tax has become delinquent.  A successful Third Party Sale results in an individual or entity, other than the Agency, holding interest in the 'sold' property and the Agency collecting on the delinquency. Depending on Agency policies or statutes, the property could then be deeded (lost), directly to the Third Party or publicly auctioned after a redemption period has expired.

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