May

Client Bulletin: May 1, 2023

Next Steps to Get Started on Our Self-Serve Call Recording System

As we’ve shared with you previously, Cenlar will soon introduce a new feature to all clients that’s intended to enhance your ability to self-serve: online access to call recordings. This new system will allow you to play back calls authenticated in our IVR within minutes of the call’s completion. You will be able to listen to the call or download it to your computer.

In order to begin rolling out this feature, we will be sending an email to the main point of contact at your organization May 1 that will walk you through the process of gaining access to this new feature and how to use it.

Among the important items in the email, we’re asking you to designate up to two users from your organization for the initial rollout of the feature. By June 1, these users will have access to calls associated with your organization. (Additional users may be added after June 1.)

Recordings will be available within the system for calls taken on or after March 1, 2021 for our Customer Interaction (CI) contact center and on or after April 1, 2023 for our Default Call Center (DCC). For older calls and any other call not found in the new system, you will still be able to submit a CCM ticket to obtain call recordings through Cenlar’s QA team.

For privacy reasons, unauthenticated calls will not be available for search, meaning the more people who use authentication within our IVR, the more calls that will be available to you with this new capability.

Important Updates to CCM and CenAccess

New End-User Bulk Important Template Ready for Immediate Use

We have updated our Client CCM End-User Bulk Import Template. This form, available under the CenAccess Training & Reference/CCM section, enables a standard way for you to request CCM end-user access. Enhancements to the form include more Request types to accommodate last name and email address changes and a Comments section to use for any special instructions.

Please inform your CCM client administrators who are submitting System Access request types to begin using the new version immediately.

Latest CCM Release Enhances Your Options with Insurance-Related Tickets

Our latest release of CCM has added two new options in the Insurance dropdown menu that will help us prioritize urgent payment scenarios. The new “Flood Payment Needed” and “Hazard Payment Needed” options when submitting a CCM ticket will identify for us items that need payment within 10 business days.

Updated Client Support Options Matrix Clarifies When to Call Tech Help Desk

We’ve updated our Client Support Options Matrix to ensure you’re getting the fastest response possible with technology issues.

All outage, connectivity and system support issues, as well as requests for password resets and bulk loan number requests, should be sent to the Technology Help Desk via email at cenlarhelpdesk@cenlar.com. For urgent issues, you can call the Help Desk support line directly at (888) 341-3882. These type of requests are not supported through CCM.

New Homeowner Email List Now on CenAccess

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

To access this list, go to the Training & Reference menu on CenAccess, and select “User Manuals.” The file name is “Email Listing for Clients 04.15.23.”

This file is updated with the most-recent list of homeowner emails once each month.

Update on Our Approach to Pandemic-Related Mortgage Assistance

In late April, we shared with you details on our approach to pandemic-related forbearances due to the end of the national emergency.

At that time, we told you that we planned to align with FHA guidance for all VA loans until the VA provided further instruction. Since the time of that advisory, VA has issued updated guidance.

As a reminder, FHA, USDA and now VA have established that their COVID-19 forbearance eligibility period will end on May 31, 2023. New forbearances will be available until May 31, 2023. For mortgages backed by FHA, homeowners will be eligible to request additional forbearance when they have used all 6 months of the initial forbearance on or before May 31, 2023. All FHA forbearances must end no later than November 30, 2023. For USDA, homeowners may make their initial forbearance request of up to 180 days until May 31, 2023, with an extension of an additional 180 days available. The VA expects all forbearances related to COVID-19, either initial or extended, to end no later than December 31, 2023.

For any questions, please reach out to your client manager. As always, thank you for your partnership as we continue to provide you and your homeowners with the very best service.

Update on Fair Lending Field Requirements

As we’ve communicated to you in recent weeks, we have put additional emphasis on new loan boarding data in order to minimize the potential for future friction in servicing the loan and for the homeowner.

We’re doing this because accurate, complete and timely delivery of new loan boarding data and documents are foundational to our partnership with you and our ability to serve your homeowners.

We continue to encourage you to send data for Fair Lending fields to us in order to meet new Fannie Mae and Freddie Mac requirements to collect and retain this data, as doing so may help with any further sale/transfer requirements later on.

If you elect to not send Fair Lending fields to us with the boarding data, you will be responsible for meeting the agency requirement to collect and store this data and make it available to the current or future servicer when required or requested by Fannie or Freddie. Cenlar will not prevent loans without this data from boarding.

Our XML file specs confirm what the required fields are and what are considered valid values for each field. If you need any further help, please reach out to your client manager.

Thank you for your partnership.

Meet with Us at MBA Secondary Conference in New York

Cenlar will be on hand in New York City May 22-23 for the Mortgage Bankers Association’s Secondary and Capital Markets Conference, and our executive leadership would love to meet face-to-face with you, our client partners.

If you are attending MBA Secondary, please reach out to your Client Management team member. We’ll schedule a time for you to meet with Cenlar executive leaders, so that we can thank you in person for your partnership and discuss how we can further strengthen our relationship.

Changes/PO Box Closures for Homeowners Paying by Coupon Book Coupons

As we continue to use technology to make our processes more efficient, we’ve recently converted homeowners using coupon books to periodic statements.

On these periodic statements, homeowners are directed to mail their payments to post office boxes that are specific to them, remitting their payment with the tear-off coupon located at the bottom of their statement. As a result of this conversion, the post office boxes for our coupon book homeowners are no longer needed, and will close effective June 30, 2023.

Beginning July 1, 2023, the following post office addresses will no longer be valid, and the post office will return mail sent to these addresses:

PO Box 986, Newark, NJ
PO Box 51301, Los Angeles, CA

All homeowners who use coupon books already have been notified of the change to statements, and have been directed to use the coupons located at the bottom of this new statements, which include the updated post office box.

As a result of the switch to statements, the mail delivered to the above post office boxes already has declined substantially. Beginning on April 22, 2023, our lockbox vendor has started forwarding the contents of the above boxes to Cenlar on a daily basis for manual application of payments. As manual payments are applied, the appropriate homeowners will be contacted by letter with a reminder to update the payment remittance address.

Payment remittance addresses are based upon client specification and/or the homeowner’s mailing address, not by coupon type. Valid payment remittance addresses for our lockbox facilities are:

PO Box 11733, Newark, NJ 07101
PO Box 54040, Los Angeles CA 90054

If you have any homeowner correspondence that includes payment remittance addresses, please ensure the communication does not reference the post office boxes that are closing. Homeowners should be directed to send their payment to the remittance address listed on their periodic bill statement.

Thank you.

Interested in Originating Buydowns? We Can Help

With the higher interest rate environment putting more pressure on affordability, we’ll expect to see more customers exploring temporary buydown options. Cenlar has always had the ability to service buydown loans, and we’re ready should you roll out a program.

We support the following buydown programs as BAU:

5-4-3-2-1
4-3-2-1
3-2-1
2-1

If you are interested in starting a buydown program and want to find out more about delivery requirements, reach out to your client manager. We’ll support you through the process to ensure a smooth start.

The required fields to board your buydowns with us are included in the New Loan Transfer Instructions on CenAccess. The buydown funds should be wired to us along with the escrow funds at the time of new loan boarding and added to the escrow wire spreadsheet under a column titled “Buydown.”

Three important things to do as you add this buydown product to your mix for the first time are:

Update your XML new loan interface to board the additional required fields. If you are using NLAI, there are fields that need to be input to capture the data.
Provide us with the imaged Buydown Agreement, along with your new loan documents using the document code of ASIDL16.
Include the buydown funds with your daily escrow funds as part of your daily cash settlement.

We’re happy to work with you as buydowns come back into popularity. If you have any questions, your client managers are always available to assist you.

Cenlar Unveils New Corporate Diversity Statement, Logo

At Cenlar, we believe that diversity builds strength and helps drive our success. With this in mind, we’ve developed a new DEI (diversity, equity and inclusion) statement and logo that, when paired together, reflect a shared sense of community and identity in our company, as well as our values of openness and inclusion.

Cenlar’s new diversity statement reads, “Together, we aspire to serve the greater good by promoting inclusion, respect and equality of opportunity. Our culture promotes diversity as we enjoy a workplace that is built on our core values of Respect, Integrity, Trust and Caring. We value an environment that embraces different life experiences and perspectives, where each employee is encouraged to express themselves and has equal access to opportunities and resources.”

Our DEI effort is guided by Cenlar’s Chief Risk Officer and DEI Executive Sponsor Sara Avery and a leadership advisory team. But the heart of the effort is the ideas and actions of a diverse group of Cenlar employees who have volunteered to serve as DEI Ambassadors.

We recognize that building an inclusive environment helps employees feel a sense of belonging and increases empathy among teams. Inclusion means everyone in the diverse workplace is acknowledged, valued and encouraged to grow and prosper.