SLK Global Solutions announced that it has launched a new product that will help mortgage-industry professionals retrieve tax information needed for closing documents.
The new product, RETS, is being touted by the Dallas -based company as a “cost-effective real estate tax service solution for commercial and residential portfolios.”
“Property tax assessment protocols and tax collection procedures are complex as they vary significantly by county, region and jurisdiction. Moreover, it is very important for lenders to stay up to date on the latest tax changes,” SLK President, Tax Division Scott Friberg said in a release. “A slight miscalculation can have a considerable financial impact. We realized quickly that while the servicers were submerged in managing all of this, they were diluting their core focus of helping customers and delivering superior customer service.”
Friberg said RETS will help clients focus on growing their businesses by spending more time on customer service rather than devoting time to retrieving the accurate data needed to finalize loans.
“The market today seeks three main things, domain expertise, consolidated services and the most important of all, a vendor who assures peace of mind, and RETS delivers it all,” Friberg said in the release. “It meets an array of critical needs, including innovative technology allowing customizable solutions, customized fee structure based on lending habits and portfolio attributes, a robust and interactive user portal with real-time access to property tax information and is compliant with all regulatory requirements for third party service providers.”
Alok Datta, president of SLK Global Solutions, said the new product was prompted by the company’s discussions with mortgage professionals.
“This group of executives, perhaps more than any other, struggles to keep pace with rapid regulatory changes and the need to create great experiences for both investors and consumers,” Datta stated in the release. “We saw a potential for a service like RETS and so we created it.”