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 for year-end 2017 is scheduled to begin Friday, December 22, 2017 and end Friday, January 5, 2018.
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 Releases after 12/22/17 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 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 2017 will be 12/15/2017. Please refer to the November monthly file 20171121_Yearend_File_Client Name for the most recent monthly data boarded to Cenlar that will be reported on the 1098 file. The most recent file, 20171121_Yearend_File_Client Name, includes November data on Tab 1 and year to date data on Tab
All new loans closed in 2017 must board by January 12, 2018 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 end of year system freeze.