Client Bulletin: February 10, 2025

Action Needed: We Need Your Attention Regarding VASP

As you may know, the VA launched the Veterans Affairs Servicing Purchase (VASP) program in 2024. Through this program, the VA purchases loans certified for VASP modification from servicers. Here’s what clients need to know about the servicing process for VASP:

About the VASP Process

Clients are responsible for servicing the loan until transfer to the VA servicer. Any required advances incurred during the interim period – the time between the VA purchase of the loan and transfer – would be addressed with the servicer at the time of transfer.

As part of this process, Cenlar requires clients to complete a New Investor Setup Form that may be obtained from your client manager or under Training & Reference -> Transfer Instruction on CenAccess. Our Investor Reporting team will create Investor IDs and Cenlar accounts until we have the completed form. Cenlar will establish the custodial account to segregate funds. Funds will be needed for VA processing. Clients will be responsible for funds reconciliation and remittance as well as communication with private investors.

Portfolio Transfers

If any VASP-certified loan is already scheduled to be transferred, the loan will be pulled from the pending transfer. VASP loans will service release to the applicable VA contractor per direction by the VA.

Please reach out to your client manager with any questions. Thank you.

What’s New and Notable? Find Out This Thursday

Please save the meeting link below and join us this week for the latest in our series of regular updates.

WHEN: Thursday, Feb. 13 at 3 p.m. ET

WHERE: To access the live update with video, click here. You can add a reminder to your calendar by clicking here.

The program will feature a panel discussion with Cenlar executives following the theme, “What’s New and Notable @ Cenlar”. Speakers include Lynn Tarantino, Chief Growth Officer; Josh Reicher, Chief Digital Officer; and Leslie Peeler, COO. Together, they’ll discuss how our efforts in technology and innovation will transform not only how you work with Cenlar but what’s possible for the servicing industry as a whole.

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

Cenlar Experts Take the Stage in Dallas

Thank you to all who joined us in Dallas at the MBA Servicing Solutions Conference!

Three Cenlar executives shared their expertise during the conference. President and CEO David Schneider spoke about the state of the industry during the general session “Executive Perspectives on Servicing” Feb. 5, while Chief Digital Officer Josh Reicher and Chief Information Security Officer Jason Shockey participated as thought leaders on Feb. 6. Shockey was an expert during a panel entitled “Securing Assets – Cybersecurity Protection”, exploring how lenders can stay vigilant against cyber threats. Reicher addressed another topic vital to the future of the industry in “The Practical Uses and Interpretations of Responsible AI”.

We also loved getting a chance to talk with many of you at our Feb. 5 Cocktails & Conversation event at Y.O. Ranch Steakhouse and during one-on-one meetings with our team. On behalf of everyone at Cenlar, allow us to share how great it was to be able to catch up with you in-person. If we didn’t cross paths in Dallas, rest assured we look forward to seeing you very soon—either at a future event or at your offices.

Cenlar Contact Centers Open on Presidents Day

Monday, February 17 is a floating holiday at Cenlar. Our contact centers will remain open, and representatives will be available to assist homeowners.

As Presidents Day is a federal holiday, some back-office areas will be closed. No USPS mail will be outgoing, and no wires, no checks and no ACH transactions will flow.
There will also be no reporting run on Presidents Day. Any files received on February 17, 2025 will resume the next business day. Reports and extracts will be available the morning of Wednesday, February 19.

Now Available: Self-Serve Access to Insurance Documents

Effective today, Monday, February 10, clients with access to the MetaStor document repository can quickly and easily serve themselves directly from the application.

Insurance documents dated after Nov. 26, 2024, are available and may include:

• Lender Placed Letters
• Lender Placed Policies
• Electronic Data Interchange (EDI) Insurance Policies
• Insurance Policies (for all perils – Hazard, Flood, Wind, etc.)
• Insurance Letters/Notices (i.e., Cancellation Notice, Reinstatement Notice, Carrier Rating Letter, etc.)

Loss Draft Claim Documents (Claim Adjuster’s Report, Bid/Estimate, Claim Check Copy, etc.)

We are actively working to add historical images – those prior to December 2024 – to the repository and will let you know as soon as we have updated.

What You Need to Do

Please begin accessing these insurance documents directly instead of submitting a CCM ticket. Self-service is fast and efficient. Look for expanded self-serve capabilities in the future.

If you or your team have any issues retrieving insurance documents from Meta going forward, please call the Cenlar Help Desk at 1-888-341-3882.

Need to Know

List of Homeowner Texts and Emails Updated on CenAccess

We have posted a list on CenAccess of all the texts and emails that we send to homeowners.

To access this list, go to the Reference Materials menu on CenAccess, and select “User Manuals.”

Pandemic Reports Ending March 1

As loss mitigation options related to the COVID-19 pandemic continue to shift, so does the need for dedicated reporting related to the pandemic.

Due to this, Cenlar will decommission the COVID Pandemic and COVID Client Activity dashboard reports, as of Saturday, March 1, 2025. You will receive the final version of these reports on Friday, Feb. 28.

Now Available: Regulatory Change Management Reports

As a reminder, there are two new Regulatory Change Management reports available on CenAccess:

• Regulatory_Alerts_Inventory.YYYYMMDD – This cumulative Excel report will identify all items received through Regulatory Change Management’s intake as of February 14, 2024.
• Regulatory_Alerts_Due_Last_Mo_Current_Mo.YYYYMMDD – This Excel report will identify all action items due within each business entity’s management action plan for the prior month and coming due within the current month.

Coming Soon: Additional information regarding these reports will be provided at the RCM Client Monthly Call, which will be scheduled later this month. Details on this call will be provided in the Feb. 24 issue of the Client Bulletin.

If you have any questions, please reach out to your client manager.