Archives: RSS Posts

As you are aware, on August 26, 2014, President Obama, at a speech at the American Legion’s 96th National Convention, outlined how his Administration and five of the country’s largest mortgage servicers were working together to help more members of our active duty military lower their monthly mortgage payments. The initiative was to step up … Continued

As year-end 2014 is approaching, we would like to outline the year-end schedule for loan boarding and transfer activity.  Please review the information below. The technology and transfer “blackout*” period for year-end 2014 is scheduled to start Monday, December 15, 2014 and end Friday, January 16, 2015. Transfer Activities to be halted during the blackout … Continued

In order to provide extended payment processing this month, Cenlar will not be releasing our file to our mortgage service provider tonight, Friday, October 31st.   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 … Continued

In order to create greater efficiency with payment processing at our lockboxes, we now use a separate P.O. Box for all borrowers who are currently receiving billing statements. The implementation of the new lockbox addresses will allow for greater flexibility in applying payment processing logic. Borrowers using coupon books will continue to use the same … Continued

October 21, 2014, Ewing, NJ – Gregory S. Tornquist, President and CEO of Cenlar FSB, announced that Jackeline Torres has graduated from the MBA’s Future Leaders Program. The Future Leaders Program delivers a highly regarded curriculum focusing on leadership and business analysis skills that help candidates advance their careers in real estate finance. “Cenlar is … Continued

Top Subservicing Firm Will Make Transition January 1, 2015  October 2014 Ewing, New Jersey –Gregory S. Tornquist has been elected as chairman of the board to Cenlar FSB and its holding company, Cenlar Capital Corporation, effective January 1, 2015, the bank’s board of directors announced. Cenlar FSB, a privately owned, federally chartered wholesale bank is … Continued

In observance of Columbus Day, Cenlar’s offices will be closed on Monday, October 13, 2014.  All files received on Friday will be processed as normal and output will be available within the usual timeframes.  Any files received on Monday, October 13th, will not be processed until the night of Tuesday, October 14th and output will … Continued

The CFPB, as of January 2014 required the addition of  the next interest rate change date to appear on the periodic billing statement for all Adjustable Rate Mortgages (ARMs). In order for this to occur, a valid ARM Plan ID must be submitted at the time a new loan boards our system. By the 1st … Continued

Cenlar FSB is fully aware of the current vulnerability surrounding the use of the Shellshock, the GNU BASH (Bourne Again Linux) utility including the initial advisory CVE-2014-6271 and the follow-up advisory CVE-2014-7169.  Please note that our acknowledgement also encompasses advisories on specific BASH related exploits including CVE-2014-6277, CVE-2014-7169, CVE-2014-7186, and CVE-2014-7187. We have tested all … Continued

In fourth quarter 2014, our servicing system provider will install custom programming which will allow for funding of Principal & Interest advances to be controlled at the payee level and enhance the advance repayment process. This change will only apply to your organization if you currently have portfolios with Scheduled/Scheduled or Scheduled/Actual remittance types or if you … Continued