Tax Services Plus
These Services Include:
- Tax Account Reporting
- Tax Status Reporting
- Tax Verification
FNF Canada provides a full service, national Property Tax Reporting Suite of Services to lenders as a business process outsource or to Lawyers/Notaries as a transactional service.
The lender property tax service program can be either an outsourced or co-sourced approach, customized to meet each lender’s particular servicing needs. As the tax service provider, FNF Canada becomes a full or partial intermediary between the lenders and the taxing authorities.
This is designed to help lenders administer property taxes for mortgages where they are maintaining a tax account. For these mortgages, FNF Canada interfaces with the taxing authorities on behalf of the lender and obtains all necessary tax statements for payment.
- Full service, national scope delivering a full suite of Property Tax Reporting
- FNF Canada will research all properties to ensure all parcels are included in reporting
- Annual service based on tax bill schedule
- Traditional mortgage based service
- FNF Canada will report any available discounts client is eligible for
Benefits:
- Staffing scheduled to support business across Canada
- Customized real-time reporting and a full scope of exception reporting
- Predictable Servicing Costs and Flexible billing schedule
- Elimination of Tax Penalties
- Reduction of FTE’s
- Quality controls through out each process step
- Full SLA matrix and management
- Quarterly and annual team reviews
This is designed for mortgages where the borrower is responsible for paying their own taxes. For these loans, FNF Canada monitors the properties affected and reports to the lender those which have unpaid taxes.
- Full service, national scope delivering a full suite of Property Tax Reporting
- Early notification of tax arrears
- Annual service
- Traditional mortgage based service
- Protection from tax sale costs
- Portfolio security
Benefits:
- Early notification of tax arrears and protection from losses due to tax arrears
- Sales lead generation
- FNF as single point of contact for all taxing authorities
- Consistent reports, Customize and real-time reporting including a full scope of exception reporting
- Predictable servicing costs and Flexible billing schedule
- Quality controls throughout each process step
- Full SLA matrix and management
- Quarterly and annual team reviews
This is designed for lenders, lawyers and other parties to obtain the current tax status on a particular parcel or a series of parcels
- All types of mortgage loans, 100% non-escrow
- Project or individual parcels based service
- This is a snap shot of the tax status of a single property at any given time
- National coverage for all taxing jurisdictions
- FNF will deliver the results in our standardized tax verification form
Benefits:
- Notification of tax arrears and protection from losses due to tax arrears
- Sales lead generation
- FNF as single point of contact for all taxing authorities
- Consistent reports, with full scope of exception and aging reporting
- Data validation plus additional data elements
- Quality controls throughout each process step
- Full SLA matrix and management
- Quarterly and annual team reviews
- Stress Test Portfolio
- Highlight “at risk” files to see if tax delinquency will create further issues
- Pair with FNF Appraisals to ensure equity still seems sufficient
- Full or partial tax account funds management
- Audits
- Payment management
- Communications and mail campaigns
In 2006 FNF Canada licensed the most comprehensive property tax administration technology available (from an affiliated organization in the USA). The technology is currently used in the USA to service some of the largest financial institutions in the world and at its peak was used to process tax payments for approximately 5 million loans.
We have spent time to “Canadianize” our technology platform and to develop our processes and disciplines. We have also been deliberate in testing and developing our service and are currently in operation servicing approximately 3500 liens across Canada.
24/7 online access through a web based client Portal which provides:
- Entire portfolio details at a glance
- Full search capability
- One screen navigation
- Partnering with a service provider that can take a mortgage throughout the life cycle (from appraisal to collections)
- Dedicated line of business with a dedicated core competency and focus on tax services alone
- Technology System is designed exclusively for tax processing (both payment and status)
- Solution is highly customizable and scalable
- Offices nationwide with bilingual staff in both QC and Head Office
- Most experienced tax account specialist with over 15 years of dedicated experience in both Canada and the United States
- Able to leverage multiple relationships to gain economies of scale
- Member of the AMTCO
- Deep, long standing relationships with municipalities nationwide
- Converts the tax function to a variable cost for our clients
With over 3,000 taxing authorities in Canada, lending institutions face great challenges in trying to meet each collector’s unique processing requirements and deadlines. By building relationships with the taxing authorities and maintaining an extensive database on their requirements, FNF Canada has developed an expertise and level of processing efficiency that individual lenders are unable to achieve.
Client Benefits:
- Operational efficiency
- Process automation
- Predictable costs
- Quality and business controls
- SLA milestones management
Benefits of an FNF Canada Partnership:
- Industry Leader in Tax Services Management
- Leader in Innovation and Technology
- FNF as single point of contact for all taxing authorities across Canada
- Combination of FNF technology and manual intervention drives industry leading Turn Around Times (TATs)
- Customer care approach ensures delivery of SLA and business rules
- Focused on TATs ensures business deliverables and business ROI
- Industries most competitive price model