End-of-Year Notification Schedule

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:
  • New Loan Interface Development Process
  • Inbound One-Time Bulk and Flow Transactions (new Sellers)
  • Bulk 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 advance. 

• 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 1098.
• All 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.