NTS Provides Tax Administration for CRE Lender.

Chicago -- National Tax Search, a nationwide provider of property tax management services, has reached a service agreement with Cohen Financial, a commercial real estate finance company.

NTS will provide property tax tracking, reporting and payment services for Cohen Financial's commercial mortgage loan servicing portfolio. This agreement covers existing loans within their servicing portfolio and anticipates the addition of new loans to their portfolio in years to come.

Steve Spayer, managing director of loan servicing for Cohen Financial, said in a news release that the process of tracking, capturing and paying tax bills to multiple taxing authorities; securing evidence of payment; and reporting payment data to investors had become too cumbersome due to the geographic diversity of the company's loan portfolio. Maintaining awareness of changes in tax laws from multiple jurisdictions is a significant burden on internal resources, he said.

"Outsourcing property tax management to National Tax Search will enable us to concentrate on our clients (investors and borrowers) and move staff members who were previously handling these time-consuming tasks to more strategic roles," he said.

The partnership with NTS will alleviate Cohen Financial from the ...