Client Bulletin: May 6, 2022

ICYMI

Planned Outage May 14-15 for Cenlar’s Migration to the Microsoft Azure Cloud

If you haven’t yet done so, please mark your calendar for a planned outage during the weekend of Saturday, May 14 at 6 a.m. through Sunday, May 15 at 8 p.m. Several applications will be impacted, including: Global Teller, NLAI, CenAccess, and XML. We don’t expect all of these applications to be out for the duration of the weekend. Importantly, we will prioritize our work to minimize both the impact and outage time.

As a result of migration activity, there is the potential for a delay in client report and data file delivery on Monday, May 16.

More about the Cloud Migration: A Reminder about Whitelisting and Connectivity Testing

Connectivity testing for the last phase of the cloud migration is underway. We need your help to make the process as seamless as possible. Here’s a recap of the instructions for whitelisting and testing that we shared last week on April 27.

Whitelisting IP Address Update

If you whitelist Cenlar applications, you must update IP addresses for applications impacted by our cloud migration before June 11 when we expect to make the cut over to the new environment. 

Please remember that the URL address will remain the same although you may need to whitelist the new IP address. Whitelisting ensures your security protocols do not prevent you from accessing the migrated environments. Existing IPs should not be removed from any whitelists until Cenlar has confirmed migration of the applications.

Please reach out to your IT Security group to ensure your security protocols do not prevent you from accessing the migrated environment when it becomes available.

New IP addresses for all of our impacted applications are listed here. PLEASE NOTE: The URL below must include https:// before the address, i.e. https://gt.cenaccess.com.

Production environment domain names and new IPs

Test environment domain names and new IPs

Please review the list of homeowner-facing applications below. If they are behind a firewall or proxy, you will need to whitelist.

Connectivity Testing through May 20

Testing will run through May 20. To confirm whitelisting is effectively complete, we strongly encourage you to participate in connectivity testing. Follow the steps below to complete testing for applications impacted by the cloud. Validation is as simple as clicking a link. Please engage your IT team for the best results. Note: This is connectivity testing only. There is no functionality testing required.

Connectivity Testing Steps

1. Complete whitelisting as needed (see details above)
2. For each application you use, navigate to the corresponding temporary URL provided below between May 2 and May 20, 2022
3. Document results
   • Successful connections will return a brief message confirming that you have reached the correct temporary domain name
   • Document failure results with a screenshot and reach out to CloudMigration@Cenlar.com for technical support
4. Report results to your client manager when you have successfully completed testing

Temporary URLs for connectivity testing are listed here.

Temporary production environment domain names

Temporary test environment domain names

Boarding New Loans and LIBOR

LIBOR (London Interbank Offered Rate) is set to expire in June 2023. In preparation for the date, please do not board any new lines or loans using the LIBOR index effective June 1, 2022.

Why is Cenlar discontinuing the LIBOR index?

The index, once widely used to set rates for a wide range of adjustable-rate consumer credit products, is being phased out by the financial industry and federal government agencies as it is perceived as vulnerable to manipulation.

What will Cenlar use in place of LIBOR?

Cenlar is continuing to monitor the industry and government agencies to identify an appropriate replacement index. In keeping with government-sponsored enterprises (GSEs) and most other financial institutions and regulators, Cenlar is closely watching the potential use of the Secured Overnight Financing Rate (SOFR) for HELOCs and ARMs. Unlike LIBOR, which relies on the subjective judgment of a panel of banks, SOFR is based on objective market data – the cost of transactions in the market for overnight Treasury repurchase agreements.

Next Steps for Loans We Currently Service

Unless you notify Cenlar about specific direction on a replacement index for loans tied to the LIBOR index, we will make a formal decision to use the SOFR index as a replacement for all ARM loans that we currently service before Q4 2022. You can expect to hear from us again at that time.