Simplify Property Tax Season with Tracking and Payment Services for Lenders
As year-end approaches, many lenders begin collecting property tax statements, verifying amounts due, and coordinating payments for escrowed loans. Managing these responsibilities across a portfolio can create a significant workload, especially when properties span multiple taxing jurisdictions with different deadlines and procedures.
Through our partnership with Coforge, CP Insurance Associates offers property tax tracking and payment services that help lenders manage these responsibilities efficiently. Coforge’s Real Estate Tax Services (RETS) combines a digital platform with servicing support for both escrowed and non-escrowed loans.
Streamline Payments for Escrowed Loans
For loans with escrow accounts, property tax servicing involves more than issuing a payment. Teams must obtain bills, confirm property information, coordinate disbursements, and maintain records.
Coforge’s service supports this process by requesting tax bills, reporting tax information, and processing payments using escrowed funds on behalf of the lender. Support also includes researching misapplied payments, resolving delinquent tax issues, and researching refunds. These services help reduce the administrative work associated with tax season while supporting accurate, timely payments.
For lending teams, this means more capacity to manage exceptions, respond to borrowers, and address other servicing priorities.
Maintain Visibility into Non-Escrowed Loans
When borrowers pay their property taxes directly, lenders still benefit from knowing whether those obligations have been met. Without a consistent tracking process, unpaid taxes may go unnoticed until they become a more complicated servicing issue.
Coforge provides non-escrow tax reporting and payment validation, with continued monitoring of reported delinquencies until they are resolved. This gives lenders information they can use to identify outstanding obligations and determine appropriate follow-up.
Tracking both escrowed and non-escrowed loans helps lenders maintain a broader view of property tax status across their portfolios.
Access Tax Information Through a Digital Platform
Answering a property tax question should not require searching through disconnected files and email chains. Coforge’s RETS web portal gives lenders access to information on tracked properties, including tax bills, receipts, legal descriptions, and payment packages. Lenders can also submit new loans for tax service through the portal.
Having these resources in one place makes it easier for staff to review records, respond to questions, and retrieve documentation when needed.
Support Accuracy, Consistency, and Growth: Property Tax Tracking
Property tax tracking and servicing requires attention to detail and dependable processes. A technology-supported service helps lenders organize information and manage recurring tasks consistently as portfolio demands change.
By combining tracking, reporting, and payment support, RETS helps lenders pursue accurate processing and timely payments while supporting their efforts to meet applicable regulatory guidelines and internal servicing standards. Organized records also support management oversight and audit preparation.
The service offers a scalable approach for institutions seeking to handle growing portfolios and seasonal workloads efficiently.
Put CPIA’s Partnership to Work for Your Portfolio
CP Insurance Associates partners with Coforge to bring our clients industry-leading property tax servicing solutions backed by technology and experienced support. Whether your team needs help processing escrowed tax payments, monitoring non-escrowed properties, or accessing portfolio tax records, we can help you explore a service approach that fits your needs.
Contact CPIA to learn how property tax tracking and payment services can simplify your team’s workload this tax season, and throughout the year.
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