RSS Category: 01 CenAccess Client Advisory

Happy Earth Day 2018 In celebration of Earth Day, April 22, 2018 and to thank you for your partnership, Cenlar FSB has purchased a tree in your company’s name. This special gift will be planted by the Arbor Day Foundation in the Klamath National Forest.

We have created a new email address for you to send notifications of new Consolidation, Extension, & Modification Agreements (CEMAs).  In order to ensure loans that are a part of a new CEMA are not satisfied, please notify us at cemanot@cenlar.com with the following information: Cenlar Loan Number; Borrower Name / Property Address; and Statement … Continued

You will find our monthly Regulatory Compliance Change Management Summary as of March 2018 here. Noteworthy Items: West Virginia SB 563 (§46A-2-128(f)) –  Effective July 4, 2017, this legislation requires that a disclosure is included in all written communications with the consumer when the debt is beyond the statute of limitations to file legal action … Continued

In anticipation of the new CFPB Successor in Interest rules effective April 19, 2018, a new process has been developed for newly boarded loans. Although it is unlikely that a new origination will have a potential or confirmed Successor in Interest identified when the servicing is transferred to Cenlar, if you discover a new loan … Continued

Cenlar is pleased to announce we have been recognized by Fannie Mae for the second year in a row as a 2017 Servicer Total Achievement and Rewards™ (STAR™) Performer in both scorecards in which we were eligible – Solution Delivery and General Servicing. The STAR Program was established by Fannie Mae to recognize servicing partners … Continued

Cenlar is currently working on the conversion from the MERS® Systems infrastructure to a new platform built by Intercontinental Exchange, Inc. (ICE), who agreed to operate and rebuild the MERS® Systems from its data centers. We are aware of the conversion and are actively participating in the testing of all functions we support on your … Continued

Cenlar is providing extended payment processing this month by expanding our Friday night cycle to allow for Saturday processing. We will be releasing our file to our servicing system provider Saturday, March 31st.  As a result, GL files, extracts and reports normally delivered on Friday night will be available no later than the morning of … Continued

As part of our ongoing communications to you regarding this project, you will find our CFPB Mortgage Servicing Amendments update for the month of February 2018 here. Noteworthy Updates: The most current version of the Executive Summary has been provided. The current project plan for all items has been included. The following sections, effective October … Continued

Due to inclement weather, Cenlar’s New Jersey and Pennsylvania offices will close early today at 12:00 PM (ET). Our Call Centers will remain open to assist your borrowers. It is expected that our offices in New Jersey and Pennsylvania will open for business as usual tomorrow.  

You will find our monthly Regulatory Compliance Change Management Summary as of February 28, 2018 here. Noteworthy Items: California SB 2 (Cal. GOV. Code 27388.1) – Effective of January 1, 2018, this legislation imposes an additional fee of $75 per recording (not to exceed $225) to be paid at the time of the recording of … Continued