New Loan Boarding Interface Specifications
Cenlar is in the process of updating our New Loan Boarding Interface Specifications and corresponding edit file which will require your action shortly after year-end. The updated specifications will include new fields that will allow us to better serve your interest and to maintain compliance due to regulatory changes. The new edits are tied to the new fields and will initially be set as warning for the first 90 days so the loans will not reject. The 90 day period will commence once you are provided with the final list of fields which you can expect to receive in January 2016.
Our Compliance department has worked with the OCC requirements to identify what are deemed ‘required fields’ for loan boarding. The preliminary list of fields being added to the loan boarding interfaces to Cenlar is available by clicking here. This preliminary list includes XML Fields, XML Edits or New Fields and 10425 Country Codes which is a table of values for the new Mailing Country code field. Please note that many of the fields pertain to specific property types.
We will be in contact with you in January to begin detailed discussions regarding implementing and testing these changed.