RSS Category: 01 CenAccess Client Advisory

Effective September 21, 2022, Cenlar will default to the current PMMS rate for all USDA Special Relief Modifications. Previously, Cenlar used the lower of the borrower’s current Note rate or the current PMMS rate. USDA allows for monthly principal and interest payment relief of up to 20%. Cenlar will continue to attempt to achieve the … Continued

Our DCC Contact Center is currently having difficulty receiving some phone calls.  The center is still up and running, but we are working to resolve the issue to restore us to full connectivity.  We will alert you as soon as we have additional information.

The VA Partial Claim Program — implemented as a temporary pandemic relief measure — will sunset on October 28, 2022. All Partial Claims must be submitted no later than this date, unless it is a correction to a prior submission. As a result, Cenlar will stop offering the program on Monday, September 12, 2022 in … Continued

This advisory includes important information on three technology issues: a planned maintenance window for our Document Center this weekend, a root cause analysis of the Aug. 15 connectivity issue in our call center and an update on our pandemic dashboard reporting. 8/15 Call Center Outage Root Cause Analysis As you may recall, on Monday, Aug. … Continued

As part of our ongoing effort to keep you informed, each month we send to you a summary of the work we’re doing to ensure compliance with the ever-changing regulatory landscape. Below you’ll find our Regulatory Compliance Change Management summary as of July 31, 2022. To provide you more information, as well as an opportunity … Continued

We’re pleased to report that our call center was restored overnight. We’re continuing to work with our vendor to investigate the issue. The issue was caused yesterday when the vendor that hosts our cloud telephony system experienced a major fiber cut near a data center that hosts Cenlar’s cloud telephony system. The fiber cut impacted … Continued

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

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

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

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