Due to inclement weather, Cenlar’s New Jersey and Pennsylvania offices will close early today at 12:30 PM (ET). However, 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.
As you may know, on February 9th, 2018, Congress reauthorized the ability of some borrowers to deduct Mortgage Insurance Premiums (MIP) after the original 1098 was issued by Cenlar. Cenlar is following the IRS’ guidance on the deduction for MIP, which advises lenders who have already filed IRS Form 1098, and did not include reportable … Continued
CenNet, our borrower-facing website, will be unavailable from Friday, March 2, 8:00 pm ET until Saturday, March 3, 6:00 am ET due to scheduled maintenance. If your borrowers need assistance during this time, our IVR, automated phone system, will be available. If you have any questions, please contact your Relationship Manager.
UPDATE: Holiday Hours and Data Center Migration Saturday, February 17 – Monday, February 19
In observance of Presidents Day, Monday, February 19th, Cenlar’s offices are closed however our call centers will be open with reduced staff available to service your customers. Our servicing system provider will be undergoing a data center migration starting Saturday, February 17th at 9:00 am EST with an estimated time of completion of early Sunday … Continued
You may have recently learned of vulnerabilities pertaining to certain chipsets from Intel, AMD and ARM, which make these CPUs potentially vulnerable to software-based exploits. You should know that Cenlar is fully aware of these vulnerabilities. We have taken a number of actions since the initial announcements, and have also established plans for additional actions. … Continued
Second CFPB Mortgage Servicing Amendments Conference Call Added
Because these calls have proven to be so valuable to our clients, we will be hosting a second conference call on Monday, January 29th from 1 PM to 2 PM EST. On the call we will look to bring you fully up to date and provide pertinent information about the CFPB Mortgage Servicing Amendments. We … Continued
Martin Luther King Day Holiday Closure
In observance of Martin Luther King Day, Cenlar’s offices will be closed on Monday, January 15th, 2018. Any files received on Monday, January 15th will not be processed until Tuesday night, January 16th, and output will be available by Wednesday morning.
Mortgage Insurance – Original Value PMI Removal Process Change
In accordance with Fannie Mae guidelines, Cenlar has amended our current process for determining eligibility for borrower-requested PMI removals based on original value. Effective January 8, 2018, we will require a Full Appraisal or a BPO on all borrower-requested PMI removals in order to certify the property value has not declined since loan origination. The … Continued
Update on Increased Call Volume
Cenlar continues to receive unprecedented call volume due to a variety of issues affecting our business. One driver is heavy call volume from members impacted by the recent natural disasters. We are also experiencing a significant increase in calls from members inquiring about the pre-payment of their 2018 taxes, related to the recently passed federal … Continued
Cenlar is pleased to announce that for the twelfth consecutive quarter (3 years) we have maintained a Tier 1 ranking. In addition, for the year ending 2017, we have received our highest score ever for an entire reporting year of 96.17%. This means that in our performance ratings for Foreclosure Prevention, Redefaults, SFDMS Reporting and Loss … Continued