Monthly Regulatory Compliance Change Management Summary
The Cenlar Compliance Department has a robust change management process around identification and implementation of regulatory changes. The process, which is detailed in the attached overview document, includes coordination between the Legal Department, the Compliance Department, and the Business Units.
You will find our monthly Regulatory Compliance Change Management Summary as of September 30, 2017 here.
The summary contains the following tabs detailing compliance changes related to the following:
- Federal Items (FFIEC, FDIC, OCC, CFPB, etc) – active items currently in implementation and new items for the month that have been closed with no impact to Cenlar.
- State Items – active items currently in implementation and new items for the month that have been closed with no impact to Cenlar.
- GSE Items (Fannie Mae, Freddie Mac, Ginnie Mae) – active items currently in implementation and new items for the month that have been closed with no impact to Cenlar.
- General Items (FHA, VA, State Housing Authorities, USDA, MHA, MPF, MPV, MI, etc) – active items currently in implementation and new items for the month that have been closed with no impact to Cenlar.
- Items Moved to Testing – Federal, State, GSE or General Items that have been implemented and are currently with QA for validation testing.
- Items Closed off Agenda – Federal, State, GSE or General Items that have successfully completed QA validation testing or items that do not require QA validation testing.
The summary contains the following fields:
- Citation or ID – Name of new/amended rule, regulation, or guidance
- Item Number – Cenlar’s tracking identification number for consistent identification
- Rule Signing Date – Date new/amended rule, regulation, or guidance was signed or issued*
- Rule Effective Date – Date new/amended rule, regulation, or guidance is effective*
- Summary – Summary of new/amended rule, regulation, or guidance
- Summary of Most Recent Update – Summary of the current status of the item
- Stage – Current state of item in the 7-stage process
- Projected Compliance Date – Date Cenlar is expected to be compliant and item moved to stage 7
- Departmental Impact – Identified business units with impact at Cenlar.
*The rule effective date and rule signing date are provided for easy identification of items that may be effective immediately or within a short period of time after signing or issuance.
Noteworthy Items:
The following circulars are related to the recent weather-related disasters, and are being implemented in coordination with our Disaster Team.
- VA Circular 26-17-21 – Item #4373
- VA Circular 26-17-22 – Item #4396
- VA Circular 26-17-23 – Item #4406
- VA Circular 26-17-24 – Item #4415
- VA Circular 26-17-25 – Item #4413
Any questions related to the monthly summary, overview process, or specific regulatory change items can be sent directly to compliancechgmngt@cenlar.com. The Compliance Department will respond within 24 hours of receipt (excluding weekends and holidays).