New enhancements help mortgage investors with portfolio purchases

by MPA27 Jun 2019

When it comes to portfolio acquisitions, mortgage investors and servicers need property tax information and municipal lien searches done early in the process to keep the deal on track. Now, there’s a faster and risk-free way for title and tax agents to do their tax reporting.

SLK Global Solutions, a business transformation enterprise offering technology-enabled products and solutions for real estate title agents and underwriters, is the owner of the SmartTrak property tax solution, a technology platform which is currently being used by more than 100 title and tax agents. SLK recently announced the addition of two new offerings for SmartTrek: a lower-priced rapid tax report and a standalone municipal lien search report (MLSR).

With these enhancements, title agents can now choose from a wide range of property tax solutions on the SmartTrak platform, from a simple and fast tax report to comprehensive municipal lien searches that can be ordered with or without a full tax certificate. These improvements aim to help mortgage investors and servicers with portfolio purchases.

“Many customers have asked us for a faster and cost-effective property tax report, in addition to a much more comprehensive guaranteed tax certificate,” said Timothy Moreland, SVP of business development at SLK Global Solutions. “Now SmartTrak enables ordering of a quick and simple low-cost report of outstanding taxes against a property.”

“Title agents can now choose tax reports that can be delivered as fast as 24 hours at a much lower price point,” added Dustin Smith, SVP operations at SLK Global Solutions America. “In addition, we have enhanced the platform to offer municipal lien searches as a stand-alone offering. This complements our existing TaxCert product – a comprehensive property tax report with guarantees – and TaxCert+, which is the tax certificate including municipal lien search information.”

SLK Global Solutions America President Alok Datta noted that the enhancement expands flexibility for title agents in terms of a menu of choices at multiple price points depending upon their business needs.

“We are always striving to deliver products and solutions that help title agents reduce turn time, expand their coverage across the nation and save on their operational expenses,” Datta said. “This is one release that directly does so. This goes perfectly with our SmartProp property search solution, which can help title agents get property search reports in four hours, making us their preferred vendor partner for all their property search and tax requirements.”

The new enhancement also means SmartTrak can be leveraged by mortgage servicers to order a quick tax report during a portfolio purchase or to track a loan’s delinquency life cycle, including foreclosures and REO.