Loss Mitigation/Collection Valuations
To clarify how Cenlar obtains values relative to loss mitigation and collection related activity, please review our policy below. Cenlar’ s policy for obtaining any value utilized during the loss mitigation/collection process are: dependent upon the investor and/or insurer guidelines as to the type of valuation being utilized (i.e. AVM, interior BPO, exterior BPO or … Continued
Revolving Credit Account Transaction Payment Holds
To mitigate potential fraud in revolving credit accounts we service for you, effective April 1, 2015, Cenlar will be placing a 10 day hold on check payments made on revolving credit accounts that are equal to or greater than $10,000, where the account is in an active draw period. This 10 day period should allow … Continued
The GHOST vulnerability is a serious weakness in the Linux glibc library. It allows attackers to remotely take complete control of the victim system without having any prior knowledge of system credentials. Here at Cenlar we do not utilize Linux or the identified vulnerable OS vendor versions associated with Ghost Vulnerability except for certain third … Continued
Inclement Weather – Cenlar’s Operating Schedule Update
Earlier this morning we advised you that our offices had activated its Disaster Recovery Program and that are offices were open with limited staff. We are happy to report that we have returned to staff levels just slightly below our norm and that all call center and collections agents are continuing to assist your customers/members … Continued
In observance of President’s Day, Cenlar’s offices will be closed on Monday, February 16, 2015. All files received on Friday will be processed as normal and output will be available within the usual timeframes. Any files received on Monday, February 16th, will not be processed until the night of Tuesday, February 17th and output will … Continued
In order to provide extended payment processing this month, Cenlar will not be releasing our file to our mortgage service provider on Friday night. As a result, GL files normally delivered on Friday night, will not be available until Monday morning at the latest. All other reports and extracts will be available on Monday morning. … Continued
Client Management Email – Standardized Subject Line
In our ongoing effort to constantly improve the service we provide to you and your customers/members we are instituting a new process for sending e-mails to our Client Management address by having a standardized subject line. For this procedure to work we request you use the following format in the subject line of your e-mail … Continued
Cenlar’s Operating Schedule Update
Earlier this morning we advised you that our offices were open for service at normal hours with limited staff. We are happy to report that as of 10:30 am (ET) our offices are open and fully operational.
Fannie Mae Servicing Guide Updates
Cenlar has implemented the following Fannie Mae Servicing Guide requirements as it pertains to Insured Loss Events and Mortgage Release Incentive Payments prior to the February 1st deadline. Insured Loss Events – (Servicing Guide D2-3.3-02, Fannie Mae Mortgage Release (Deed-in-Lieu of Foreclosure) Cenlar as “the servicer” has implemented the removal of requirements that the servicer must … Continued
To better serve your borrowers following a servicing transfer, Cenlar is implementing functionality that allows positive reporting to the credit bureaus for borrowers who make timely payments during the first 60 days after a transfer. This eliminates any gaps which might occur on credit reports during that time – since Cenlar has historically suppressed all … Continued