HousingWireHousingWire
Mortgage technology platform Haven is allowing its users to access property tax monitoring and protesting services. The New Jersey-based company has partnered with property tax service provider Ownwell, according to a recent joint announcement.
Through this partnership, Haven will offer an escrow monitoring feature through the platform’s affiliate marketplace, or app store, which offers products and services that benefit servicers and borrowers. The feature allows homeowners to directly monitor their tax assessments in one place.
This collaboration streamlines operations by combining homeowner engagement with a better understanding of property tax assessments and appeals. Before, homeowners would have to rely on third-party services to access their property tax data. Now they can access it in a single location and initiate appeals on assessments they deem unfair.
According to Ownwell, 86% of customers receive a tax reduction following an appeal — averaging $1,148 in savings per property. Haven said customers only pay for the service if they save money. Haven will also directly support homeowners during an appeal, if necessary.
“We believe an informed homeowner is a confident and valuable one,” Haven CEO Jonathan Chao said in a statement. “By integrating Ownwell’s services into Haven’s Escrow Monitoring feature, we’re giving homeowners greater transparency and control over their property taxes, helping them save money and avoid unnecessary expenses. This is another example of how Haven is committed to making homeownership simpler and more rewarding for everyone.”’
Ownwell CEO Colton Pace echoed Chao’s statement, expressing optimism for homeowner benefits from the partnership. “Together with Haven we will help homeowners navigate the complex and archaic world of real estate expense. Our combined expertise will empower homeowners to save lots of money and ensure they never overpay on their property taxes ever again,” Pace said.
Mortgage servicers and investors can also benefit from this collaboration. Servicers should experience higher customer satisfaction rates, better relationships with borrowers and a reduction in delinquency rates as housing costs sink due to lower property tax payments. Investors can more easily retain customers and boost the values of their mortgage servicing rights (MSR) portfolios.
Haven’s platform allows servicers to engage with consumers through various products and services. The company has unveiled several products in 2024 aimed at revolutionizing the mortgage industry, including the Haven Wallet and an artificial intelligence-powered voice agent tool.
