Monthly Regulatory Compliance Change Management Summary

The monthly Regulatory Compliance Change Management Summary, as of January 31, 2018 can be found here.

Noteworthy Items:

• West Virginia Consumer Credit and Protection Act (SB 344 & SB 563) – projected compliance date has been extended as Cenlar works through a larger systemic implementation of the required letter changes. The risk for noncompliance is minimal as there is currently a limited population of loans that fit the criteria and none are currently receiving documents due to other regulatory requirements.
• IRS Instruction for Form 1098 – Item will be moved to QA validation by end of week.

As a reminder, starting this month we will be hosting a Monthly Regulatory Compliance Change Management call to walk through each summary. Our first call will take place on Wednesday, February 21 at 3pm EST. To register for the call, please email compliancechgmngt@cenlar.com. For your convenience, the call will be recorded for distribution to clients who are unable to attend. We hope you can join us!

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).