Client Bulletin: April 22, 2022

ICYMI: An Update with Cenlar Leadership on April 28

Please join us for an update on the latest work being done at Cenlar.

WHEN: Thursday, April 28 at 3 p.m. ET

WHERE: To access the call, please dial (800) 207-0148 or (646) 828-8082
                Participant Code: 247216

We will share a copy of the meeting presentation next week. 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.

Changes to Cenlar’s Secure File Transfer Platform (SFT.CENNET.COM) on May 22

Next month, Cenlar is making updates to our secure file transfer platform (sft.cennet.com at IP 12.26.45.84).
On Sunday, May 22, legacy support for Transport Layer Security (TLS) v1.1 will end. In order to make certain that connections using FTPS are not impacted, please verify with your IT team that your software is current and supports TLS 1.2.

Also on that day, Cenlar will be updating the SFTP host key used by MoveIT. If your organization requires host key approval as part of your SFTP configuration, please reach out to your client manager for a copy of the host public key.

Payoff Shortage Tolerance Increase for Non-GNMA Loans

Based on a recent review of our 2021 payoff shortage tolerance thresholds, Cenlar has determined that increasing our threshold tolerance to $100 will reduce our short payoff exception handling by approximately 20%. This change will result in returning 20% fewer payoff funds, thereby, delivering an improved homeowner experience.

Effective June 1, 2022, we will increase the payoff shortage tolerance from $50 to $100 for non-GNMA loans. The GNMA shortage tolerance will remain at $250.