Client Bulletin: November 26, 2024
S&P Affirms Strong Rating for Cenlar
S&P Global Ratings has affirmed its ranking “strong” for Cenlar as a residential mortgage loan primary servicer.
S&P, in a press release, said the ranking reflects an improved organization-wide focus on enhancing the overall internal control environment. You can read what President and CEO David Schneider has to say about this focus in the most recent issue of our quarterly newsletter, the Centinel.
Additionally, the rating agency attributed Cenlar’s strength to its new management team, including Schneider.
With the introduction of Servicer Evaluations in 1989, S&P Global Ratings became the first ratings agency to give global market participants an independent, objective view of a company’s ability to handle the increasingly complex demands of servicing loans and asset portfolios. Servicer Evaluations are conducted by a dedicated team of analysts with expertise in evaluating various operational risks. Following a comprehensive evaluation process, analysts assess a servicer’s operational strengths and risks to derive appropriate sub-rankings and overall rankings.
Thanksgiving Processing Schedule: Important Information on What to Expect
Cenlar will be closed for all staff on Thursday, November 28, 2024 in observance of Thanksgiving. Most staff, including departments like Client Management, also will be off on Friday, November 29, 2024.
Our payment staff will be working on Friday, November 29 and Saturday, November 30 to process payments. Lockbox and branch feeds will process on both Friday and Saturday. Payment files received prior to the cutoff on Saturday, November 30 will be processed for November.
Staff in payoffs will be working on Friday, and our call centers will be available to assist homeowners on both Friday and Saturday.
Month-end processing will occur on Saturday, November 30 and files will be delivered Monday, December 2.
Detwiler Presents at IMN Mortgage Servicing Rights Forum
Senior Vice President of Client Relations Matt Detwiler took the stage at IMN 10th Annual Mortgage Servicing Rights Forum (East) in New York City, speaking on the panel “Servicing/Sub-Servicing: Hot Button Regulations & Client Requests” on Nov. 21.
Panelists discussed topics that included In-house vs. using a sub-servicer: Whole vs. partial portfolio approaches and the inherent complexities to consider, Compliance considerations for GNMA risk based capital and other key developments and more.