Transamerica Guarantees Quick Tax Line Boarding.

Transamerica Real Estate Tax Service has created a new product that provides tax-line information to mortgage lenders before or within days of boarding a loan on the servicing system of record.

The new product, PowerLines Plus, capitalizes on Transamerica's extensive electronic database of tax information to deliver guaranteed tax lines to mortgage lenders. Tax lines include information on each property, including taxer and parcel data, tax amount and the next due date.

Transamerica officials say the new product improves upon standard industry practice, which is to load tax data onto a servicer's system 30 to 60 days after the loan becomes active.

With PowerLines, by contrast, Transamerica issues a guarantee that accurate tax information will be delivered to the mortgage lender's servicing system within days of loan boarding.

Transamerica says that other vendors provide tax data at this time, but they do not guarantee its accuracy until later in the process, which can expose lenders to tax penalties and borrower complaints.

James Schoedinger, president of Transamerica Real Estate Information Services, says that the new product is another step in the company's Six Sigma effort to reduce the cost of tax delinquencies and increase borrower satisfaction.

As a result of the company's electronic database of tax information affecting 137 million properties, Mr. Schoedinger said that when an application for tax lines is filed, Transamerica probably already has that information on its system.