Update to XML Loan Boarding Messages
On July 29, 2018, Cenlar is installing a new warning message within the XML Loan Boarding application. This warning message will be displayed when a delinquent loan is submitted for boarding. To ensure loan payments are accurately reflected on the borrowers’ next billing statement, all payments collected and not applied to the loan prior … Continued
Interest on Escrow (“IOE”) in Wisconsin
On April 17, 2018, the state of Wisconsin passed Assembly Bill 822. Under the previous law, Wis. Stat. Ann. § 138.052, certain financial institutions and mortgage bankers who required an escrow account be established for either payment of taxes or insurance, were required to pay interest on the outstanding balance of the escrow account annually. … Continued
Consolidation of MERS Audit 01-02-03-04 Reports
Effective October 1, 2018, in an effort to streamline the process and make it easier for you, the MERS Audit 01, 02, 03 and 04 files will be discontinued. Beginning in February, 2018, in addition to the files referenced above, we began delivering the two consolidated files listed below to you via Secure File Transfer … Continued
Monthly Regulatory Compliance Change Management Summary
You can find our monthly Regulatory Compliance Change Management Summary as of June 30, 2018, here. Noteworthy Items: CFPB Mortgage Servicing Rules – Bankruptcy Statements – Cenlar implemented changes to comply with the new rules that were effective April 19, 2018. Beginning May 1, 2018, bankruptcy statements were generated on active bankruptcy loans that were … Continued
In observance of the July 4th Holiday, Cenlar’s offices will be closed on Wednesday, July 4, 2018. All files received on Tuesday will be processed as normal and output will be available within the usual timeframes. Any files received on Wednesday, July 4th, will be processed the night of Thursday, July 5th and output will be available … Continued
Fannie Mae and Freddie Mac eMortgage/eNotes
We are excited to announce that Cenlar is approved and ready to service your Fannie Mae and Freddie Mac eMortgage/eNote loans. The main difference between eNote servicing and paper mortgage servicing is the MERS eRegistry, which requires updates to be done by the Client in that system for life of loan events. The eNote will be … Continued
Monthly Regulatory Compliance Change Management Summary
You can find our monthly Regulatory Compliance Change Management Summary as of May 30, 2018, here. Noteworthy Items: · Washington HB 2057 – Washington has implemented a Successor in Interest rule that has additional requirements above the CFPB Successor in Interest rule that was implemented April 19, 2018. The rule requires specific information to be provided … Continued
Extension of Month End Processing
Cenlar is providing extended payment processing for the month of June by extending our Friday night cycle to allow for Saturday processing. As a result, GL files, extracts and reports normally delivered on Friday night will begin processing on Saturday evening and will be available no later than the morning of Monday, July 2nd. Please … Continued
Cenlar Disabling TLS 1.0 in Key Applications
In order to strengthen the safety and security of client and borrower data and information, Cenlar will be enforcing TLS 1.1 and 1.2, industry standards, as our communications encryption protocol on all of our web interfaces. This use of the latest security protocols in our systems is being done in an effort to maintain the highest … Continued
On Friday, June 8, 2018 at 11 pm EST, CenNet will be down for approximately 15 minutes for scheduled maintenance. During this brief time, CenNet will be unavailable to your customers. Global Teller will still be available for your access.