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August 10, 2018 Ewing, NJ – To show our appreciation for all of our outstanding summer interns, Cenlar hosted a “Thank You” social recently at our Scotch Road facility in Ewing, NJ. It was a great chance for everyone to get together, connect and share their experiences. To make the event even more special, Cenlar … Continued

On April 17, 2018, the state of Wisconsin passed Assembly Bill 822.  Under the previous law, Wis. Stat. Ann. § 138.052, certain financial institutions and mortgage bankers who required an escrow account be established for either payment of taxes or insurance, were required to pay interest on the outstanding balance of the escrow account annually. … Continued

On July 29, 2018, Cenlar is installing a new warning message within the XML Loan Boarding application. This warning message will be displayed when a delinquent loan is submitted for boarding.   To ensure loan payments are accurately reflected on the borrowers’ next billing statement, all payments collected and not applied to the loan prior … Continued

July 26, 2018 Ewing, NJ – Today, Cenlar’s summer interns marked National Intern Day by donating their time to Habitat for Humanity. More than twenty interns donned Cenlar T-shirts and arrived early at Habitat for Humanity in Maple Shade, New Jersey. They spent the day doing hands-on work and helped assemble furniture in support of … Continued

Effective October 1, 2018, in an effort to streamline the process and make it easier for you, the MERS Audit 01, 02, 03 and 04 files will be discontinued. Beginning in February, 2018, in addition to the files referenced above, we began delivering the two consolidated files listed below to you via Secure File Transfer … Continued

You can find our monthly Regulatory Compliance Change Management Summary as of June 30, 2018, here. Noteworthy Items: CFPB Mortgage Servicing Rules – Bankruptcy Statements – Cenlar implemented changes to comply with the new rules that were effective April 19, 2018.  Beginning May 1, 2018, bankruptcy statements were generated on active bankruptcy loans that were … Continued

July 2, 2018 Ewing NJ –Cenlar announced that Jim Daras, Executive Vice President and Chief Risk Officer, retired from the company on June 30th. Mr. Daras was instrumental in creating Cenlar’s Risk Department during his 10-year tenure. “Jim has been a tremendous asset to Cenlar, as well as a great colleague and friend,” said Gregory … Continued

In observance of the July 4th Holiday, Cenlar’s offices will be closed on Wednesday, July 4, 2018. All files received on Tuesday will be processed as normal and output will be available within the usual timeframes. Any files received on Wednesday, July 4th, will be processed the night of Thursday, July 5th and output will be available … Continued

We are excited to announce that Cenlar is approved and ready to service your Fannie Mae and Freddie Mac eMortgage/eNote loans. The main difference between eNote servicing and paper mortgage servicing is the MERS eRegistry, which requires updates to be done by the Client in that system for life of loan events. The eNote will be … Continued

You can find our monthly Regulatory Compliance Change Management Summary as of May 30, 2018, here. Noteworthy Items: ·       Washington HB 2057 – Washington has implemented a Successor in Interest rule that has additional requirements above the CFPB Successor in Interest rule that was implemented April 19, 2018.  The rule requires specific information to be provided … Continued