Client Bulletin – December 4, 2020

On November 10, 2020, the Consumer Financial Protection Bureau (CFPB), the Mortgage Bankers Association and other nonprofit organizations and mortgage industry leaders launched a consumer awareness and education campaign (‘NOT OK? THAT’S OK’) regarding mortgage assistance under the CARES Act during the pandemic. The campaign is designed to raise awareness among borrowers who have missed one or more mortgage payments in 2020 and may be eligible for forbearance assistance. The Urban Institute has found that more than 400,000 delinquent borrowers who are not in forbearance, but who qualify for forbearance, could be made aware of this assistance via a broad outreach campaign. The campaign offers new materials to help consumers get the help they need, understand the facts about forbearance and next steps. The materials can be found on the CFPB website and across social channels. Cenlar is proud to support the campaign, beginning with updating our borrower-facing website with links to the CFPB materials and posting links on Instagram and Twitter.
 Borrower-Facing Website Update
On November 18, 2020, we began to roll out a series of borrower-facing enhancements to our new website, including: Forbearance payments. Borrowers in forbearance can now make full or partial payments via our new website. Web chatbot and live chat. Borrowers can obtain assistance through our live chat tool, in addition to calling and speaking with a representative. The chatbot, which sits in front of live chat, uses Artificial Intelligence (AI) to help answer frequently asked questions without the need to connect with a live agent. In the coming weeks we’ll be introducing this new platform to all borrowers who are currently using the new website.Secure message notifications. Borrowers receive email notifications alerting them to a response.Estimated Home Value and My Neighborhood. Based on client feedback, these sections of the site have been removed.
 People on the Move
Lynn Tarantino Lynn Tarantino has been named Chief Control Officer. She will join Cenlar’s Operations and Technology group and report to Rob Lux, Executive Vice President and Chief Operating Officer. “Lynn is a well-respected member of the risk group who has a long track record of success in enhancing the risk and controls posture of multiple organizations,” said Lux. “She will assure risks and controls for all functions within the first line of defense are properly identified, assessed, managed and controlled.” Lynn has more than 20 years of experience managing, overseeing and reducing risk and establishing controls for premier financial institutions. As Senior Vice President, Chief Compliance Officer and BSA Officer for Cenlar for the past seven years, she was responsible for the governance and oversight of the firm’s compliance management system, including regulatory change management, examination management and the financial crimes team.
Jennifer Rowen
Jennifer Rowen, formerly Vice President, Compliance Program Management, has been named Senior Vice President, Chief Compliance Officer and BSA Officer replacing Lynn Tarantino. As VP, Compliance Program Management, Jen was responsible for Regulatory Change Management, Program Management, Compliance training, BSA/AML/OFAC, and Business Advisory services. Jen brings more than 20 years of banking experience to her new role at Cenlar. “Jen’s leadership has been particularly evident throughout the pandemic as she played a major role in leading the changes result from new regulatory requirements for our company,” said Louis Glinn, Chief Risk Officer. “We’re looking forward to leveraging her significant expertise to continue to reduce risk and protect our clients, their borrowers and our organization.”
Nick Brett
Nicholas C. Brett has joined Cenlar as Vice President and Executive Client Manager. Nick will join Jeanne Bader, Nancy Irwin and Tom Hutchison in managing a team of Client Managers and client relationships at an executive level. “Nick has a stellar track record in nearly every aspect of mortgage servicing,” said Matt Detwiler, Senior Vice President, Client Management. “Throughout his career, he has balanced service, quality, and profitability planning. We will be assigning Nick client relationships as he gets acclimated with Cenlar’s business and processes.” Prior to Cenlar, Nick was a Senior Vice President of Consumer, Small Business, and Commercial Default for US Bank, where he led a team of nearly 300 employees at multiple sites and oversaw all aspects of $42 billion portfolio of multi-product default business lines. At US Bank he substantially increased efficiencies in part by introducing speech analytics, call-back assistance, and automated text bots to improve service quality and efficiency.