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Client Bulletin: June 6, 2022

Cenlar Expands eNote Servicing Capabilities

Cenlar has been subservicing eNotes for many years, and we have recently expanded our service offering to include MERS eRegistry reporting through our new eVault Service. We are approved as a subservicer for Fannie Mae, Freddie Mac and MERS^®/ICE.

The introduction of the MERS eRegistry reporting enables us to now offer a complete turnkey subservicing capability for eNote loans. For flow loans, bulk transfers and de-conversions/sales, we can now update the MERS eRegistry when life of loan events occur for default-related loan status changes through loan payoff — in addition to all the other servicing functions associated with servicing eNotes.

If you are planning on closing eNote loans, currently closing/servicing eNotes and doing your own MERS reporting, please contact your client manager to explore how Cenlar can further support the subservicing of your eNote loans.

An Update with Cenlar Leadership on June 23

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

WHEN: Thursday, June 23 at 3 p.m. ET

WHERE: To access the call, please dial (800) 207-0148 or
(646) 828-8082 | Participant Code: 686245

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.

Cenlar Cloud Connectivity Testing & June 11-12 Migration Impacts

Our Cloud testing window ends this Friday, June 10. If you have not yet tested, please read the instructions included in the May 20, 2022 Client Bulletin, which can be found in CenAccess. And remember to work with your IT team for best results!

A Few Notes about Testing

Access to a handful of URLs is restricted to National Cash Register (NCR) clients. These URLs include:
- https://temp.de.cennet.com
- https://temp.beta.di.cennet.com
- https://temp.lockdown.clientservices.loanadministration.com
- Non-NCR clients are exempt from testing for the above URLs.
The testing URLs must include https:// before the address, i.e. https://gt.cenaccess.com

June 11-12 Migration Weekend Impacts

You and your homeowners may be impacted during the weekend of Saturday, June 11 at 6 a.m. through Sunday, June 12 at 8 p.m., as we migrate a number of servers to the cloud. While the servers are offline, several applications will be affected, including client-facing APIs, Global Teller, NLAI, SSO, XML, CenNet and the CenNet Forbearance Application. Our goal is to complete as much of the migration activity as possible by the end of Saturday, June 11.

As always, we will work quickly and efficiently to minimize any disruption and get our applications up and running throughout this period.

The CenNet outage will be limited to SSO clients. If your homeowners use SSO, we recommend you post a note on your website about the impending outage.

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

ICYMI: Changes in Cenlar’s Approach to the Veterans Affairs Partial Claim Program

As we shared in an advisory in April, Cenlar has been following the VA process and guidelines for Partial Claim filing and reimbursement. The VA initially advised that servicers should not advance funds until the VA has certified the claim. This certification process takes place after the servicer has received the signed documents from the homeowner.

This delay has impeded Cenlar’s ability to follow the loss mitigation process and, thereby, has implications for the homeowner.

Unfortunately, the VA’s certification process has been delayed. Specifically, Cenlar has been unable to apply payments received from the homeowner or complete system changes to bring loans current. This has resulted in delays in applying the homeowner’s payments and providing accurate statements and credit reporting. Moving forward, Cenlar will advance the claim funds using the client’s GL until the claim is verified by the VA.

Should you have homeowners with VA loans that have applied for the Partial Claim program, your June invoice and those thereafter will reflect this advance until the VA certifies the backlog of loans. This activity will be on your monthly bill in third-party corporate advances. When the VA is able to catch up, Cenlar will credit your account accordingly.

If you have any questions or concerns about the action we are taking on VA Partial Claim loans in response to VA’s backlog, please reach out to your client manager.

USDA COVID-19 Special Relief Measures

Cenlar has been closely following the USDA guidance on its COVID-19 special relief measures. USDA’s guidelines provide impacted homeowners with up to a 20% reduction on their current principal and interest payment. Once the target payment is established, the servicer is directed to incrementally get as close as possible to that amount.

Our existing processing configuration defaults to the lesser of the homeowner’s current rate or the published PMMS rate. Going forward, we will continue to apply the lower of the two rates.

If you have questions about this approach, please reach out to your client manager.

Introducing Cenlar Case Management Informational and How-To Videos

We’re continuing to see a great number of clients take advantage of our Cenlar Case Management (CCM) System. Whether you are just getting started with CCM or want a refresher, check out our new videos on the CenAccess CCM page. We have created two new videos to enable you and your organization to make the most of CCM. The first video tees up the benefits of CCM. The second video explains how to activate your account, submit requests, follow up and escalate an issue.

Juneteenth Observance

Cenlar, including our CI and DCC contact centers, will be closed on Monday, June 20, 2022 in observance of Juneteenth. Any files received on Monday, June 20 will be processed the night of Tuesday, June 21. Output will be available the morning of Wednesday, June 22.