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Mortgage Company Payment Not on Tax Account

Many of the mortgage companies outsource their tax paying process to a third party tax service bureau. Lenders must have their list of accounts to be paid and the funds deposited with the tax service by a specific date (usually, either in August or November), and advise their clients that they have paid the County. The County has established a schedule for the Lenders and the Service Bureaus to submit their payments, so the accounts may be credited in a timely fashion (usually, the last week of September or December). In short, there is often at least one month between the time that the payment leaves the mortgage lender and it is received and processed by the County.
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Last Updated: 08/05/2013 13:04:19