Monthly Regulatory Compliance Change Management Summary
The January Regulatory Compliance Change Management Summary is linked for your reference. This month’s Regulatory Compliance Change Management conference call will take place on Thursday, February 27th at 3pm EST. To register for the monthly call, please email compliancechgmngt@cenlar.com. For your convenience, the session will be recorded and made available to clients who are unable … Continued
Tier One Vendors Drop to Tier Two
During a recent Third-Party Risk Assessment of our Vendors, we identified three vendors that should no longer be considered Tier 1 Vendors as defined under our TPRM Risk Management Program. These vendors are now being classified as Tier 2 Vendors. Please note, there will be no change to the level of due diligence reviewed on these … Continued
In observance of the Presidents’ Day Holiday, Cenlar’s offices will be closed on Monday, February 17, 2020. Any files received on Monday, February 17th, will be processed the night of Tuesday, February 18th, and output will be available the morning of Wednesday, February 19th.
New Loss Mitigation Pipeline Report
On Monday, February 3, 2020 we will begin distributing a new Loss Mitigation Pipeline Report. This new report combines loss mitigation data that is currently found on multiple reports into a single document, providing you with more detailed information and a consolidated view. The pipeline report provides an inventory of your loans that are active … Continued
Extension of Month End Processing
Cenlar is providing extended payment processing for the month of January by extending our Friday night cycle to allow for Saturday processing. As a result, GL files, extracts and reports normally delivered on Friday night will begin processing on Saturday evening and will be available no later than the morning of Monday, February 3rd. Please … Continued
Martin Luther King Day Holiday
In observance of the Martin Luther King, Jr. Day Holiday, Cenlar’s offices will be closed on Monday, January 20, 2020. Any files received on Monday, January 20th, will be processed the night of Tuesday, January 21st, and output will be available the morning of Wednesday, January 22nd.
New Loan Hazard Insurance Sufficiency Process and Reporting
Cenlar has recently enhanced our process for reviewing the sufficiency of hazard and flood insurance coverage on your mortgage loan portfolio. Beginning this month, we will conduct a review as part of new loan boarding and portfolio transfer processes and provide ongoing reporting. Importantly, the review will include a report of our findings to help provide … Continued
Western Union Quick Collect Termination
After careful consideration, Cenlar is terminating our relationship with Western Union Quick Collect effective March 1, 2020. The last day borrowers can make a payment using Western Union Quick Collect will be February 28, 2020. Ongoing technical issues on the part of Western Union, in addition to a significant decline in service usage – fewer … Continued
Monthly Regulatory Compliance Change Management Summary
The November Regulatory Compliance Change Management Summary is linked for your reference. As a reminder there will not be a monthly call in December. The next Regulatory Compliance Change Management conference call will take place on January 30th at 3pm EST. To register for the call, please email compliancechgmngt@cenlar.com. For your convenience, the session … Continued
Christmas and New Year’s Holiday
In observance of the Christmas Holiday, all Cenlar offices will close on Christmas Eve, December 24th at 3:00 pm local time. All Cenlar offices will also be closed on Wednesday, December 25th, 2019. Any files received on Wednesday, December 25th, will be processed the night of Thursday, December 26th, and output will be available the morning … Continued