Client Bulletin: October 20, 2025
Thank You for a Wonderful Evening in Las Vegas
Thank you to all who joined us on Sunday, Oct. 20 for a full-house event at the renowned Mob Museum. We are honored to have had the chance to welcome all of you, and we hope you enjoyed your time with us.
On behalf of everyone at Cenlar, allow us to share how great it was to be able to catch up with you in person. Best wishes for a great MBA conference!
California Regulatory Updates
Regarding California Assembly Bill 130
On July 1, 2025, Assembly Bill 130 went into effect in California, requiring a certification under penalty of perjury that the mortgage servicer did not engage in certain practices.
We are aware of this regulation and have assessed the population of loans impacted by AB 130. In line with industry-wide practice, due to the requirements of AB 130, we have put all second lien foreclosures in California on hold.
On September 5, 2025, the California Mortgage Association, California Credit Union League, United Trustees Association and several impacted individuals, financial institutions and small business owners sued California Attorney General Rob Bonta to block enforcement of portions of AB 130. We are monitoring this closely so that we can act immediately upon further developments.
If you have any questions, please reach out to your client manager.
California AB493: Interest on Restricted Escrow (Loss Draft Proceeds)
Effective August 29, 2025, California Assembly Bill 493 requires mortgage lenders and servicers to pay interest on hazard insurance proceeds on any residential property (1-4 family units) in the state of California. The lender/servicer must pay 2% interest annually on any insurance claim funds held in restricted escrow. Interest will begin to accrue as of the effective date of this bill.
Interest accrued will be deposited into the homeowner’s escrow account at year-end. Any surplus in the homeowner’s escrow account will be disbursed to them when the loan is analyzed.
Please reach out to your client manager with any questions.
You’re Running Out of Time to Complete Cenlar’s Annual Client Experience Survey!
Your opinion is a vital piece to our evolution as an organization, and you still have a few more days to complete our client experience survey and share your feedback on how we’re doing. Friday, Oct. 24 is the last day our annual client experience survey will be available for you to complete.
For those who have already taken the time to complete the survey, thank you. Your opinion of how we’re doing is essential to the service we provide to you and your homeowners.
If you haven’t gotten around to finishing the survey yet, please consider filling it out today. The survey should take no more than 5 to 10 minutes to complete, and your feedback will be shared across our organization to serve as a guide for the next steps in our evolution.
A link should have arrived in your inbox on Monday, Oct. 6 from MarketCast (surveys@cenlar.marketcast.com). Be sure to check your spam folder if you can’t find the email in your inbox, and please don’t forward the survey on to anyone else — each link is personalized to you and your relationship with us.
If you didn’t receive a survey or have any questions, please reach out to your client manager.
New Enhancement to IVR for Homeowners with Multiple Loans
Effective Oct. 24, the IVR will include a new verification and loan identification process for payoffs. This enhancement is part of our ongoing commitment to streamline self-service options and ensure secure, accurate access to loan information.
This new addition improves the experience — especially for homeowners with multiple loans — by reducing friction and simplifying access.
Homeowners can expect the following in the IVR if they call for a payoff and there is a phone number match:
• Identity Verification – Homeowners will be prompted to enter the last four digits of their Social Security number to confirm their identity.
• Loan Identification via Phone Number – The IVR will then state, “We’ve located loan number ending in XXXX based on your phone number.”
• Loan Confirmation Options – If the loan number is correct, the homeowner can accept and proceed. If the loan number is not the one they are inquiring about, homeowners will be given the option to enter a different loan number manually.
Third parties will continue to authenticate with the full loan number or full Social Security number of the homeowner and then the property ZIP code when requesting a payoff via the IVR.
If you have any questions, please contact your client management team.