LPS saw the spin off of their Agent-Broker products division in a management led buy out last September. The new company formed is called Real Estate Digital. Today, it was announced that the LPS Tax company was sold to Lereta.
This company has nothing to do with the data that is licensed to RPR or MLSs. This is a tax services company totally separate from the Applied Analytics Data Solutions company that licenses public records and serves MLS.
These are interesting times. We will keep you posted on what we hear.
LERETA’s CEO, Doug Foley, and President, Jim Thornton, welcome LPS Tax
customers to the LERETA family
LOS ANGELES, Feb. 1, 2012—LERETA, LLC (LERETA), a private investment group which
includes Doug Foley and Jim Thornton, announced today that it has acquired the real estate tax
services business of LPS Property Tax Solutions, Inc. (LPS Tax), a wholly-owned division of
Lender Processing Services, Inc (LPS), a leading provider of mortgage technology and services.
“We are confident that LERETA will fully support LPS Tax customers with a wide range of
high-quality property tax services needed by mortgage lenders and servicers,” said LPS Chief
Operating Officer Dan Scheuble. “During this transition, we are committed to working closely
with LERETA and our customers to ensure a smooth, seamless conversion to LERETA’s
For years, the teams at LERETA and LPS Tax have built a solid reputation in the mortgage
industry based on quality and extraordinary service to thousands of mortgage originators and
servicers of varying types, sizes and national locations. LERETA President Jim Thornton stated,
“We welcome LPS Tax customers to the LERETA family and are anxious to demonstrate our
ability to provide them with the excellent customer service and support they’ve enjoyed with
LPS Tax. This is an exciting time for LERETA as we continue to invest in the growth of our
business and add to our distinguished and formidable customer group.”
In a statement from LERETA CEO Doug Foley, he announced, “LERETA has over 26 years of
experience in the mortgage services industry, with average employee tenure of over 15 years.
The depth, experience, dedication and ingenuity of our people, combined with the strength and
flexibility of our systems, give us a strong competitive edge. We are proud of the LERETA name
and our reputation as an industry leader and continue to embrace the values that first made our
brand synonymous with extraordinary service. With our commitment to problem-solving and
providing the highest standard of service in the industry, we pledge to carefully listen and
respond to our new and existing customers’ issues and concerns. Our company has been
consistently healthy and strong throughout this difficult economy, and we are excited about the
growth prospects and opportunities in the market today.”
Kerlin Capital Group, LLC, a Los Angeles-based boutique investment bank, represented the
LERETA investment group in this transaction.
ABOUT LERETA, LLC: LERETA, LLC continues in the tradition of LERETA Corp. Founded
in 1986, LERETA Corp. has been a major force in the tax and flood service industries.
LERETA provides a full suite of real estate tax services for residential and
commercial loans, including automated online research and certification, tax bill processing, a
suite of delinquent tax services, and customized tax outsourcing service programs. LERETA also
provides real time flood zone determination services. For more information, visit