08
Aug
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Client Bulletin: August 5, 2022

Cenlar Refines Loan Operations Team Structure With New Leadership Adds Cenlar Loan Operations, with responsibilities that span core operations and support, transfer operations and default, has refined its structure with the addition of several new senior positions. Led by industry veteran and Senior Vice President William “Bill” Moffett, Loan Operations is deepening its bench strength with … Continued

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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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11
Jul
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Client Bulletin: July 08, 2022

Update on Exela Cyber Incident We wanted to update you on what we know regarding the cyber incident that has affected our vendor Exela. At this time, there is still no evidence that any homeowner data has been compromised. Exela, with the help of third-party firms that specialize in cyber incident response and forensics, continues … Continued

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05
Jul
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July 1 Update on Exela Cyber Incident

We wanted to update you on the progress our vendor Exela has made since we last communicated with you. Exela has told us that it has cleared the entire processing backlog that formed due to the cyber incident shutdown. Its larger, East Coast processing center is fully operational, and has been running same-day processing. It … 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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27
Jun
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Update on Exela Cyber Incident

We made you aware that 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 is now reporting that its operations are being restored, and it can now begin to clear the backlog in processing.  As soon as we are … Continued

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