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Client Bulletin: July 9, 2024

Response Needed: Listing of Multiple Structure and Multiple Property Accounts

We wanted to make you aware of an upcoming addition to the XML fields. We will be adding a multiple property and multiple structure indicator to ensure proper insurance tracking on all structures.

A multiple property is defined as a loan with two or more properties with two different property addresses. For example: 100 Main Street and 101 Main Street (duplex or rental property). A multiple structure is defined as a loan with two or more structures with one property address. For example: 100 Main Street with the primary house, a guest house and a cottage.
Once live, we will ask that the multiple property/multiple structure indicator is used when boarding these loans. This update is targeted for September 2024.

In an effort to reconcile the multiple structure and multiple property accounts, we need you to provide Cenlar with a listing of loans that we are still actively servicing that meet the criteria described above for multiple property or multiple structures.

How to Submit Listing of Multiple Structure and Multiple Property Accounts via CCM

Please provide this list of loans and details to our Issues Management team via CCM by September 13, 2024.
Tickets sent to us via CCM should be sent via the following path: Relationship Needs>Enterprise Process Concerns>Inquiry on a Formalized Issue.

Please include “Listing of Multiple Structure and Property Accounts” in the subject line of the ticket.

If a loan listing is not provided to Cenlar by September 13, 2024, it will be documented that you do not have any multiple property or multiple structure accounts on your books.

 

Additional Investor Information Coming to CenAccess Dashboards July 15

We are enhancing the daily and monthly dashboards that are available on CenAccess to add investor information, including investor ID and investor name.

This update, live on July 15, will enable clients to filter their portfolio to the investor level. Currently, all private investors and FHLB loans are listed as “Other” and lumped together with asset loans.

These fields will be added as the final columns of the report so as not to interfere with any existing data ingestion built by your technology teams around this report.

 

Click here to read how we’re Building a Tech Foundation to Drive Client Success (link to blog by Rene Gonzales)

 

Pro Tip: Review Your Homeowner 1098 Files Monthly

We may only be halfway through 2024, but now is a fine time to review your files for any pre-year-end corrections to homeowner 1098s.

As with previous years, the deadline for your organization to submit pre year-end corrections to homeowner 1098s will be sometime in early December. We will communicate the actual date to you when we finalize it.
As a reminder, any client submitting correction requests after the final cutoff date in December will be charged. To avoid this and to keep files up-to-date throughout the year, we recommend—and request—that clients review their files on a monthly basis and send us any corrections at that time.

You can submit any corrections through CCM, using the path General Servicing / Year End / Bulk 1098 Corrections / Pre-Year End Correction.

Thank you for your partnership.