22
Jul
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Client Bulletin: July 22, 2022

A Note on the GSE-Required Review of LIBOR ARM Notes Freddie Mac and Fannie Mae have issued directives related to their LIBOR loans, requiring a review of all LIBOR ARM Notes. The purpose of this review is to identify any Notes that have non-standard index replacement language (or no index replacement language at all), and … Continued

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29
Jun
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June 29 Update on Exela Cyber Incident

As we shared yesterday, Exela has told us that it has fully restored operations in the larger of its two processing locations. The processing backlog at this larger volume site has been cleared, and the location is back to business as usual. Exela says it has worked through approximately 2/3 of the total backlog across … Continued

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28
Jun
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June 28 Update on Exela Cyber Incident

As we made you aware last week, Exela, our lockbox/check processing vendor, experienced a cyber incident that resulted in Exela immediately shutting down its operations out of an abundance of caution. Exela has told us that it has fully restored operations in the larger of its two processing locations. The processing backlog at this larger … Continued

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24
Jun
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Cenlar Vendor Exela Experiences Cyber Incident

We want to make you aware that Exela, our lockbox/check processing vendor, has experienced a cyber incident. Out of an abundance of caution, Exela immediately shut down operations, leading to a 3-day backlog in processing. We expect processing to resume tomorrow, with the backlog completely resolved by Monday, June 27. Cenlar itself was not attacked, … Continued

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22
Jun
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Monthly Regulatory Compliance Change Management Summary

Please find below our monthly Regulatory Compliance Change Management Summary as of May 31, 2022. The next monthly Regulatory Compliance Change Management conference call will take place on Thursday, June 30, 2022 at 3 p.m. ET. To register for the monthly call, please email compliancechgmngt@cenlar.com . For your convenience, the call will be recorded and … Continued

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01
Jun
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Changes in VA Partial Claim Program

Changes in Cenlar’s Approach to the Veterans Affairs Partial Claim Program As we shared in an advisory last month, Cenlar has been following the VA process and guidelines for Partial Claim filing and reimbursement. The VA initially advised that servicers should not advance funds until the VA has certified the claim. This certification process takes place … Continued

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31
May
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Cloud Wave 9 Next Steps

Cenlar Cloud Connectivity Testing and June 11-12 Migration Impacts Our Cloud testing window ends two weeks from today, on Friday, June 10. If you have not yet tested, please read the instructions included in the most recent Client Bulletin. This Bulletin, published May 20, can be found in CenAccess. A Few Notes about Testing Access … Continued

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31
May
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Monthly Regulatory Compliance Change Management Summary

A more complete copy of the Regulatory Compliance Change Management Summary as of April 30, 2022 can be found in the Regulatory Change Management section of www.CenAccess.com. The next monthly Regulatory Compliance Change Management conference call will take place on Thursday May 26, 2022 at 3pm EST. To register for the monthly call, please email … Continued

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