Client Bulletin: October 16, 2023

Important Changes Coming to Mortgage Assistance Website

As part of the retirement of COVID-19 forbearance assistance for Fannie Mae (FNMA) and Freddie Mac (FHLMC) loans, we are making changes to the mortgage assistance website.

Effective Nov. 1, homeowners with Fannie Mae, Freddie Mac or asset loans that follow Fannie guidance will no longer have access to the mortgage assistance website. At that time, homeowners experiencing a financial hardship will be directed to our customer service phone number so they can be evaluated for assistance programs. This approach supports our adherence to the requirement for making right party contact.

As a reminder, for asset loans and those in private securities, we will follow the most recent guidance provided by you regarding mortgage assistance. If no guidance has been provided, we will continue to follow our contractual requirements, which stipulate defaulting to Fannie Mae in absence of a standard.

Homeowners with FHA, USDA or VA loans that have an existing COVID-19 forbearance can continue to learn more about their options, request an extension or end their forbearance via the mortgage assistance website.

Please reach out to your client manager with any questions.

Enhanced Complaint Categorization Takes Effect November 1

We are enhancing the naming we use for complaint categorization and information capture. This includes the categories and selections our contact center representatives use when documenting complaints and that Cenlar reports to you, our clients.

These updates are designed to increase ease of use for our representatives, to include some additional areas of complaint focus and to ensure there is one common language used throughout the business. These updates are set to go live Wednesday, Nov. 1, 2023.

It’s important to note that no data will be lost as a result of these changes. Categories of data that existed in the past still exist. Some selections within those categories changed. Please see the complaint taxonomy mapping document, located on CenAccess, for a complete list of past category selections and their updated names.

Going forward, in order to support data trending efforts, prior data will be mapped to the updated category selections and reported as such.

Please reach out to your client manager if you have any questions.

New Delinquency Roll Rate Report Coming in November

As part of our continued focus on providing you information so that you may better work with us, we will begin sending you a new Delinquency Roll Rate Report on the first business day of each month, starting in November.

This new report will enable you to better monitor, assess and manage credit risk in your portfolio. Coming in an Excel format, the report will contain four tabs with trending information on your delinquent loans:  Delinquency Trending, Month over Month, Roll Rates by Delinquency Status and Data Dictionary.

Please review this monthly report so you have the most up-to-date understanding on how loans may roll from one delinquency stage to another. Please note that if there are no delinquent loans, the report will contain no information but will still be delivered to you.

Look for the report dropped on or around the first business day of the month, using the file naming convention “YYYYMMDD_ClientSvcFORID_ClienName_Delinquency_Roll_Rates.xlsx”. To see a sample of the report, please go to CenAccess, under Training & Reference > User Manuals.

Thank You for Participating in Our Client Experience Survey

A heartfelt thank you to everyone who took time out over the last few weeks to participate in our annual client experience survey. Your opinion of how we’re doing is essential to guiding 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.