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Client Bulletin: October 14, 2022

File Transfers Offline This Weekend to Complete MOVEit Migration to the Cloud

MOVEit, the application we use to share files with you, will be offline for a period this weekend, as we complete our upgrade and migration to the cloud.

The application will be unavailable from 7:30 a.m. ET Saturday, October 15 until 10 a.m. ET Sunday, October 16. MOVEit will resume normal file transfer processing once the system cutover finishes on Sunday morning. Overnight processing also will occur as normal prior to the cutover on Friday, October 14.

This transition requires you to have whitelisted and validated IP addresses related to MOVEit. Thank you to the many clients who have completed this testing already. For those clients who have not tested yet, please refer to the Client Advisory we sent to you last week, on Friday, Oct. 7, for testing instructions and information.

We will continue to work with clients to resolve any issues related to the MOVEit migration. Representatives will be available at our Cenlar Command Center to assist you after the cutover from Sunday through next Tuesday; please send an email to MOVEitUpgrade@Cenlar.com describing your issue in the body of the email.

Thank you again for your assistance as we enhance our technology to better serve you.

An Update on HUD Letters Regarding Partial Claims

Two weeks ago, we alerted you to an issue being experienced by the U.S. Department of Housing and Urban Development (HUD).

The agency sent two letters (Round 59 issued September 21, 2022, and Round 59-B, issued September 27, 2022) stating that HUD had not received the documentation to support certain Partial Claims (PC) processed by Cenlar. We have been in contact with HUD to discuss this issue, and it is our understanding that other major servicers received similar notices.

The letter sent by HUD on Sept. 21, 2022 pertains to the PC documents submitted to their new vendor, after Oct. 9, 2021. The letter sent on Sept. 27, 2022 pertains to PC documents submitted to HUD’s previous vendor, prior to Oct. 9, 2021.

HUD has shared a list of loans serviced by Cenlar that HUD is seeking documentation from Cenlar.  Our team has already made significant progress assembling the documentation being requested by HUD. We are in the process of providing this documentation directly to HUD, in the manner it has requested, so that the agency can complete its reconciliation exercise and locate any missing documents. We have started sharing documentation with HUD this week.

There may also be loans that that had a PC processed by Cenlar and the loans were later transferred/sold to a new servicer.  For these loans, please submit any requests from the new servicer through CCM via this dropdown option: Default Servicing >> REO >> Document Request >> Final HUD.

While Cenlar and other major servicers who also are working with HUD to resolve this issue, it may take more than the 30 days cited in the HUD letter to fully reconcile/resolve all loans HUD indicates  as having missing documents. Due to this timing, you may receive an extension letter from HUD.

We will provide a follow-up communication as we make progress in providing HUD the requested documentation.

New Property Preservation Claim Vendor and Fee Structure Starting December 1

We’ve made a pair of changes for all property preservation damage claim files, beginning December 1, 2022.

We have contracted with an additional vendor, and negotiated the same market-based fee arrangements for both our new and existing vendors. Under this new fee structure, there will be no expense to review new damage reports, nor for denials.

Each vendor only receives a 17% contingency fee if claim funds are obtained under the policy, subject to a cap of $27,000. This new performance-based pricing brings Cenlar in line with industry standard vendor fee structure, and ensures alignment with maximum recovery.

If you have any questions, please contact your client manager.

 

Thank You for Participating in Our Client Survey

We are writing to thank everyone who took time out over the last few weeks to participate in our annual client satisfaction survey. Your opinion of how we’re doing is essential to the service we provide to you and your homeowners.

We’re in the process of tabulating your responses now. Once we have results, we will be sure to share the findings with you.

We know there’s always opportunity to enhance how we serve you and your homeowners, and we’re grateful for your honest feedback as we work to do so. Thank you for your time and consideration, as we strive each and every day to be your trusted partner.
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