Headquartered in Covina, California, LERETA, LLC is a leading outsourced mortgage service provider. Led by John Walsh, LERETA provides a full suite of real estate property tax services for residential and commercial loans on a nationwide basis, including automated online research and certification, tax bill processing, a suite of delinquent tax services, and customized tax outsourcing service programs. LERETA also provides nationwide real-time flood zone determination services.
Former executives of the business, Jim Thornton and Doug Foley, together with Tarsadia’s investor group, acquired LERETA in 2009 from Land America Financial Group. Tarsadia worked with its operating partners to restructure the organization and formulate a new strategic plan to restore growth to the business, and continues to provide strategic advisory services. Subsequent to the initial investment, LERETA has acquired the following four additional companies and/or business lines: the property tax reporting subsidiary of Lender Processing Services, Inc. (NYSE: LPS) in 2012; the real estate tax services business of QBE Insurance Ltd. (ASX:QBE) in January 2014; the real estate tax services business of Industry Consulting Group, a subsidiary of Brown & Brown, Inc. (NYSE: BRO) in November 2014; and the real estate tax certification and information services of American Property Guard, LLC in May 2016. Together this has created the second largest independent national real estate tax service provider in the U.S.