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Transamerica Offers Early RE Tax Service.
Transamerica Real Estate Tax Service has introduced a new "Early Procurement Service" to generate tax amounts at least three days before a sale or transfer of a pool of loans, the company announced.
For participating lenders, Transamerica Tax believes that providing tax bills no later than three days prior to the sale or transfer date will help ensure that all taxes are paid by the correct party accurately and on time.
"In a typical loan sale or transfer, a lender must track, procure and post-report tax amounts for the entire pool of loans, a difficult, time-consuming and costly process," said James Schoedinger, president of Transamerica Real Estate Information Services. "Transamerica Tax's EPS eliminates this hassle by segregating the transferred loans from a lender's portfolio to manage them separately."
The EPS service begins by branching the loans in a portfolio, separating out those not designated for sale.
It then conducts a pre-audit of the pool of loans a lender plans to sell or transfer, a process that updates and helps ensure consistency among the tax line data. Transamerica then ensures that all taxes for those loans have been reported for at least 30 ...
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