RSS Category: Compliance

Please find our monthly Regulatory Compliance Change Management Summary as of July 31, 2018 here. This month’s Regulatory Compliance Change Management conference call will take place on Tuesday, September 26 at 2 pm EST. To register for the monthly call, please email compliancechgmngt@cenlar.com. For your convenience, the call will be recorded and made available to … Continued

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

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

You will find our monthly Regulatory Compliance Change Management Summary as of April 30, 2018, here. Noteworthy Items: West Virginia SB 563 (§46A-2-128(f)) –  The statute of limitations to file legal action for the collection of debt is 10 years, not 5 years, as previously reported in last month’s Monthly Regulatory Compliance Change Management Summary. … 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

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

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

The monthly Regulatory Compliance Change Management Summary, as of January 31, 2018 can be found here. Noteworthy Items: West Virginia Consumer Credit and Protection Act (SB 344 & SB 563) – projected compliance date has been extended as Cenlar works through a larger systemic implementation of the required letter changes. The risk for noncompliance is … Continued

The monthly Regulatory Compliance Change Management Summary, as of December 31, 2017 can be found here. Starting this month, we will be hosting a Monthly Regulatory Compliance Change Management conference call to discuss each summary. The conference call will be a listen-only one hour session where we will highlight the monthly summary changes and address … Continued