Black Knight teams up with LERETA to integrate tax service

Black Knight, a mortgage and real estate fintech company, has announced entering a “strategic relationship” with LERETA, a real estate tax and flood services provider for mortgage servicers, to give Black Knight’s MSP servicing system customers improved tax-reporting services.

The integration aims to enhance data exchanges, reduce payment timeframes, eliminate manual report entry errors, boost processing, as well as provide greater accuracy, improve tax-specific processing and customer experience.

“This alliance demonstrates our continuing commitment to driving innovation in property tax servicing,” said LERETA CEO John Walsh. “It also shows how the respective leaders in tax service and servicing systems can work together to improve this critical servicing function. Servicers using LERETA for tax on the MSP system will now have more automation and decrease in risk.”

“This innovative tax service will further streamline the onboarding process for our clients, increase process transparency and provide a better customer experience,” Black Knight President Joe Nackashi said.

The Black Knight MSP loan servicing system is used by financial institutions to service more than 34 million active loans. Meanwhile, LERETA launched Total Tax Solutions (TTS) in 2016, which serves as the core processing system for the company’s outsourced tax clients and an ASP service for standard tax reporting clients.

“Customer service is always the biggest concern for servicers, and the launch of our Total Tax Solution has changed the way our customers can support their customers,” said Walsh. “TTS dramatically improves the transparency of tax service, which has helped reduce the number of real estate tax-related service calls by over 30 percent. The implementation of TTS has also resulted in industry-leading customer service call times; and 85% of tax-related calls are resolved on the first call, dramatically improving customer experience.”