RSS Category: Notice

September 18, 2019 Effective 9/23/2019, if the funds received to pay off a loan are insufficient by $250 or less, Cenlar will post the payoff transaction immediately and bill the Issuer the shortage amount. In accordance with their guidelines, this change ensures the timely deposit of funds into the lettered Ginnie Mae custodial account. If … Continued

Attached, please find our monthly Regulatory Compliance Change Management Summary as of June 30, 2019.  This month’s Regulatory Compliance Change Management conference call will take place on Thursday July 25th at 3 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

Each year we reach out to you to confirm your direction on value certifications based on your borrowers’ original property values for PMI insurance purposes. We perform this certification annually to ensure we have your most up-to-date selections. You have the option to select either a Broker’s Price Opinion (BPO) or a full appraisal on all … Continued

Effective September 15, 2019 we are adjusting the fees we charge your borrowers for two payment options: the automated phone payment system and agent assisted phone payments. Revised fee schedules will be available via CenAccess on July 22, 2019 for those of you who need to submit and file with state regulators. The fee to … Continued

What’s changed? The Total Loan Count/Total Dollar Amount has been added back to the MRC for pages 3, 5, 7-12. Added a Chapter 12 Bankruptcy and an Other Bankruptcy category to the BK Pipeline Report on page 13. Active Bankruptcies should include these two new categories in its count.  Other Foreclosure category has been added … Continued

In observance of the July 4th Holiday, Cenlar’s offices will be closed on Thursday, July 4, 2019. All files received on Wednesday will be processed as normal and output will be available within the usual timeframes. Any files received on Thursday, July 4th, will be processed the night of Friday, July 5th and output will be available … Continued

We are pleased to announce we have made enhancements to our Quarterly NMLS Reporting Package and starting in July we will begin delivering a new set of NMLS reports. The enhancements are designed to streamline the use of the reports by providing a more consolidated summary along with the loan level information. Details of the enhancements … Continued

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 1st. Please … Continued

Please find our monthly Regulatory Compliance Change Management Summary as of April 30, 2019 here. This month’s Regulatory Compliance Change Management conference call will take place on Wednesday, June 5th at 3pm EST. To register for the monthly call, please email compliancechgmngt@cenlar.com. For your convenience, the call will be recorded and made available to clients … Continued

As you may be aware, Section 597 of the New York Banking Law (NYBL) and Section 419.12 of Part 419 of the Superintendent Regulations requires registered mortgage loan servicers and exempt mortgage loan servicers regulated by the Department to file quarterly and other reports in the form prescribed by the Superintendent. In order to facilitate … Continued