Apr

Client Bulletin: April 14, 2023

CCM Tickets Required for Loans in New MIP Reduction Program

In late February, the Federal Housing Administration (FHA) released Mortgagee Letter 2023-05, reducing annual mortgage insurance premiums (MIP) and amending the base loan amount threshold used to establish mortgage insurance premiums for FHA-insured Single Family Title II forward mortgages. These annual MIP reductions are effective for mortgages endorsed for FHA insurance on or after March 20, 2023.

Cenlar utilizes the MIP info that our clients provide us in their boarding file information. We are not alerted when the loan is endorsed, so we will not know if it is necessary to adjust MIP unless notified by you. Loans that were originated prior to March 20 but endorsed after that date may need to have the MIP adjusted accordingly.

If you are aware of any loans that require an adjustment to the MIP data you provided, please open a CCM ticket, filed under New Loan Data Correction. With each CCM ticket, you should provide the FHA Endorsement Certificate and documentation to support the updated monthly and yearly amount for the loan.

If you have any questions, please contact your client manager.

Help Us Ensure Complete, Usable Flood Determination Data

As we’ve shared previously, the accurate, complete and timely delivery of data and documents are foundational to our partnership with you and our ability to serve your homeowners.

From time to time, we receive data that does not contain evidence of flood zone determination or is in a form makes it difficult to ascertain if a flood zone determination has been obtained. If we are not able to utilize the flood determination data/information provided at time of boarding to secure the integration and enable the service with the provider, we will — in order to ensure you, your homeowners and Cenlar are properly protected — order a flood zone determination on your behalf, with the cost passed on to you.

An Update with Cenlar Leadership on May 4

Please save the date for the latest in our series of regular updates.

WHAT: Learn from Cenlar leadership about our areas of focus for Q2 2023 and the rest of the year ahead.

WHEN: Thursday, May 4, 2023 at 3 p.m. ET

We will send you access information for the call closer to the date of the event.

Please note, this call is for current Cenlar clients only. Although you may forward this invite to interested parties within your organization, please do not forward dial-in details to other third parties. Any information shared on the call is subject to the confidentiality provisions of your respective subservicing agreement.

If you have any questions, please contact your client manager.

SQL Server Enhancement Scheduled for May

Over the last few years, we’ve embarked on an important effort to refresh and enhance our technology, with projects like our Cloud migration and MOVEit upgrade.

Next month, we’re continuing this effort by implementing a backend upgrade for our SQL servers. These servers host many of our client and homeowner applications, including CenNet and CenAccess. The upgrade is scheduled for Sunday, May 21 during our usual maintenance window. Once complete, it will create a more stable environment that reduces risk and establishes a solid foundation for future enhancements and developments.

The upgrade will occur automatically. You do not need to do or change anything on your end.

If you have any questions, please contact your client manager. Thank you.

New Report Breaks Down Homeowner Survey Information

In order to better serve you and ensure we’re providing your homeowners a warm, welcoming experience, we’ve launched a new report that gives you detailed information regarding the results of our homeowner quality survey.

After speaking with one of our Customer Interaction agents, your homeowners can elect to take a survey about their experience. On the fifth business day of each month, all of our non-credit union clients will receive a report from us, distributed directly via SFTP. The report provides you with response information for all surveys completed by your homeowners, along with an overall response score.

The report, which launched April 7, is broken down into three tabs:

Reference (tab 1): List of survey questions and answer options.
Response Summary (tab 2): Summary of the number of responses for surveys taken during the month.
Response Details (tab 3): Provides the client name, loan number, zone, date of survey and Q1, Q2 and Q3 ratings for each survey taken.

It is our pleasure to work with you as we strive to provide your homeowners the very best experience, each and every day. Thank you.

New Video Series Demonstrates the Values We Use To Care for You

This month, we’re kicking off a series of videos featuring our employees speaking about how Cenlar’s values inform their work, each and every day.

As a company built of employee owners, we are personally vested in the success of you, our client partners. Beginning with our foundational core values of Respect, Trust, Integrity and Caring, we operate with highest regard for our clients and their homeowners, our colleagues and our communities by acting with trust and transparency.

At Cenlar, we work as one to help you achieve your goals, and endeavor to treat you and your homeowners as we would like to be treated. We stand behind our services, fulfill our promises and find optimal solutions to even the largest challenges.

Our values overview video is the first of five videos, with the next four each representing one Cenlar value.

You can check out the first video here. Keep an eye out for more dynamic values videos in the coming months.

Updated Client Support Matrix Now Available on CenAccess

We have updated the Client Support Options Matrix, with the following changes to the insurance section:

Added guidance to include the loan number on each page
Clarification on which email address homeowners should use
Removed the fax option. Web, email and mail options remain.

You can find this updated version of the support matrix on CenAccess.