Monthly Regulatory Compliance Change Management Summary

Please find our monthly Regulatory Compliance Change Management Summary as of February 28, 2019 here. 

This month’s Regulatory Compliance Change Management conference call will take place on Wednesday, March 27 at 3 pm EST. To register for the monthly call, please email compliancechgmngt@cenlar.com. For your convenience, the call will be recorded and made available to clients who are unable to attend.  If you have already registered for a previous call there is no need to request registration again.

Additionally, we will be holding a call to discuss Cenlar’s progress on implementation of California AB-375 – Consumer Privacy Act.  This call will be held directly after the monthly meeting on Wednesday, March 27 at 3:30 pm EST.  To register for this call please email compliancechgmngt@cenlar.com.

Any questions related to the monthly summary, overview process, or specific regulatory change items can be sent directly to compliancechgmngt@cenlar.com and the Compliance Department will respond within 2 business days of receipt (excluding weekends and holidays).

Noteworthy Items:            

• Queue 5332 – MPF Announcement 2019-14 – MPF Program Issues Updated Loan Presentment Form (OG3) – On October 30, 2018 and December 12, 2018, respectively, MPF Announcement 2018-51 and MPF Announcement 2018-60 were published. These announcements collectively advised Participating Financial Institution’s (PFIs) that the MPF Program was in the process of updating the Loan Presentment Request Form (OG3) to reflect the collection of additional loan and borrower details. 

MPF has updated its form to support the delivery of either the current demographic information or the additional Ethnicity and Race data available in the Uniform Residential Loan Application.  A PDF version of the form may now be submitted via the eMPF website or via secure email to the MPF Service Center at MPF-Help@fhlbc.com.  A Loan Presentment Request Form received via secure email will be accepted any time and will be processed each business day between 8:30 A.M. and 3:30 P.M. Central Standard Time.  A Loan Presentment Request Form received via the eMPF Website will be accepted 7 days per week, including holidays, between 6:00 A.M. and 8:00 P.M. Central Time, except when system maintenance is necessary and the eMPF Website is not available. 

If you have begun to accept the additional demographic data, please reference Chapter 11 of the MPF Traditional Selling Guide for additional information.