LMS360 – TaxAdmin

Tax Admin.LMS360™ is a workflow enabled software solution for Canadian banks and mortgage lenders, which allows them to manage and process municipal taxes and school taxes on behalf of their borrowers.  Delta 360’s tax administration software provides mortgage lenders with the ability to automate the entire tax administration process, thus reducing, or in many cases eliminating, any manual processes and the costs associated with these administrative tasks.  Banks and mortgage lenders benefit from the integrated workflow management and automation of tasks that increase productivity and reduce costs to administer property tax accounts. Lenders also benefit from the solution having the ability to manage the cash reserves of the tax accounts and ensure that an adequate float is maintained.

Delta 360 also provides a set of unobtrusive web-based municipal property tax tools which allow lenders to identify the municipality for a given property and to calculate the annual taxes and tax portion to be collected with the mortgage payment to eliminate a shortfall in the tax account. These tax shortfalls, and the resulting increases in taxes, are a major customer irritant with many banks and lenders in Canada.

Key Features

Automated Municipality Tax Bill Upload
In seconds, banks and mortgage lenders can upload thousands of individual tax bills from a municipality to a centralized tax bill processing view within our software. Our system automatically locates properties that were setup in the incorrect municipality and can correct these errors with a click of a button. By electronically loading tax bills, mortgage lenders and banks can eliminate much of the labour costs and human error often associated with manual data entry.

Integrated Workflow
Your proven processes are captured and utilized by the software to ensure that individuals complete tasks in a timely fashion and that lenders are maximizing the capacity of their property tax team.  Our workflow engine ensures the timely preparation of remittances to municipalities, well in advance of bill due dates, eliminating any late payment penalties charged by municipalities.

Real-time Balancing
With the press of a button, the system provides an online balancing tool to ensure the remittance to the municipality is balanced prior to sending payment and prior to the posting of the individual tax bills.

Tax Bill and Customer Refund Processing
The system tracks a complete history of tax receipts from customers and remittances to the municipalities.  The system will automatically post the required tax bills to the account history, refund any surplus as required and record the annual taxes paid for each tax escrow.

Automated Tax Adjustments and Letter Generation
Upon payment of the final tax bill for each municipality and in conjunction with your business rules, the system will automatically perform the required tax adjustments to each tax account to ensure accurate tax portions are collected for remittance to the municipality.  As part of the tax adjustment process, the system will generate the customer communication letters ensuring the customer is aware of the service you are providing and of any pending changes required to future tax payment portions.

Configurable Tax Rules
Our highly configurable software technology platform provides you with the flexibility of configuring various municipality and property tax business rules through the software’s administration tools. Annual estimated tax increases, refund thresholds, large dollar tax adjustment, municipality discounts and portfolio audits are captured and configured to match your business rules.

Our tax administration software module can be easily be integrated with mortgage and loan servicing platform. Our software leverages Microsoft BizTalk’s robust messaging infrastructure which provides two-way interoperability to mortgage systems using any file format (XML, Flat Files, CSV, etc) or adapter / transport mechanism including:

  • Web Service (XML, SOAP, WSDL)
  • FTP / Secure FTP (SFTP)
  • Java Class Libraries
  • .NET Assembly Integration
  • Message Queues (Websphere MQ, MSMQ)
  • ODBC, APIs.
  • Any other Microsoft Biztalk connector