The lender property tax service program is an outsourcing solution 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. With over 5,000 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.
We offer three distinct tax services.
Tax Account Reporting
- 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.
- FNF Canada will report any available discounts client is eligible for.
- Centrally managed and administered in Mississauga, Ontario
- Staffing to support national hours
- Quality controls
- Web based client portal
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.
Tax Status Reporting
- Full service, national scope delivering a full suite of Property Tax Reporting
- Centrally managed and administered in Mississauga, Ontario
- Staffing to support national hours
- Early notification of tax arrears
- Protection from tax sale costs
- Portfolio security
- Quality controls
- Web based client portal
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.
Tax Verification
- “Photo-in-time’ of property tax status
- 48-72 hours turnaround time
- National service
- Standardized tax form
- Standard pricing
- Municipal and School Board taxes in Quebec
- Homeowners grant in BC
- Follow up
This is designed for lenders, lawyers and other parties to obtain the current tax status on a particular parcel or a series of parcels.