The aim of the study is the synthesis and characterization of epoxy functional reactive polyacrylic latexes, e.g., poly (BA-co-MMA-co-AN-co-GMA) with core/shell and non-structured (random) particle morphologies. Additionally, their performance as binders and coating ability in leather finishing were studied. The epoxy functional polymers were synthesized via the seeded emulsion polymerization technique and the obtained latexes were characterized by means of particle size, zeta potential, FTIR, TEM, DSC, DMTA, and TGA. The results showed that the particle size and zeta potential values were very similar for both latexes, except core/shell latex had slightly higher particle size. DSC, TEM, and DMTA studies verified the successful synthesis of core/shell latex morphology. The copolymer films were elastic in nature and had low Tg values (−13 and −20 °C). The performance results showed some different behavior for core/shell and random copolymer coatings. The abrasion resistance of the leather finish with random copolymer as binder exhibited slightly better values, especially in wet conditions. On the other hand, the leathers finished with core/shell binder showed better performance in flexing endurance and the water spotting test.