As the year quickly comes to a close,
we would like to share important information
about the 2019
year-end schedule for new loan boarding
and transfer activity. Please review the details here:
To allow time for year-end processing, there will be a technology
and transfer “blackout”* period scheduled from 12/16/19 through 1/3/2020.
During this time, transfer activities including programming changes and testing will be
halted for the following activities:
Loan Interface Development Process
One-Time Bulk and Flow Transactions (new Sellers)
and Interim Service Loan Releases – It is customary not to release loans at
year-end. Any such releases desired after 12/26/19 will need to be agreed to in
Transfer Schedule: The
dates to submit your loan level list/files for Internal
Transfers and Flow Transactions (‘Monthly Bulks’) have been modified and are
available in the attached schedule.
Any new loans which require maintenance of the year-end fields,
must be sent to us via a corrected 1098 data file by 12/13/19, this will
ensure that your borrowers receive the correct information on their Form
new loans closed in 2019 must board by 1/10/2020 so that year-end tax reporting
can be completed, and a Form 1098 can be sent to your borrowers.
*The blackout period is primarily
driven by Cenlar’s year-end system freeze.