As we approach the end of another successful year as your partner, we would like to provide you with an outline of the year-end schedule for loan boarding and transfer activity. Please review the important information below.
The technology and transfer “blackout period”, tied to our year-end freeze, for 2018 is scheduled to begin Monday, December 17, 2018 and end Friday, January 4, 2019.
Loan Boarding Activities including programming changes and testing will be halted for the following activities:
New Loan Interface Development Process
Inbound One-Time Bulk and Flow Transactions (new Sellers)
Bulk and Interim Service Releases after December 31, 2018 will need to be discussed and agreed to in advance. It is customary not to release loans at year-end.
The dates to submit your loan level list/files for November/December Internal Transfers and Flow Transactions (‘Monthly Bulks’) have been modified and are available in the attached schedule.
The last day to send in a corrected 1098 data file for loans boarded in 2018 will be January 15, 2019. Please refer to the 20181101_Yearend_File_(SERVICEDFOR).xlsx for the most recent monthly data boarded to Cenlar that will be reported on the 1098 file. The most recent file, 20181101_Yearend_File_(SERVICEDFOR).xlsx, includes November data on Tab 1 and year to date data on Tab 2.
All new loans closed in 2018 must board by January 15, 2019 so that year-end tax reporting can be completed, and a Form 1098 can be sent to your borrowers.