Transfer Operations – End of Year Notification 2014
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 period include:
- New Loan Interface Boarding Process – no programming changes, testing or move to a ‘go live’ status
- Inbound One-time Bulk and Flow Transactions (new Sellers) – no programming changes, testing or transfers
- Bulk and Interim Service Releases – no programming changes or testing. Releases on 12/31/14 would need to be discussed and agreed to in advance. It is customary to NOT release loans at year-end.
- Internal Transfers are not impacted however, November and December’s activities have been modified, see below
- Flow Transactions also known as ‘Monthly Bulks’ are not impacted (for established Sellers) however, there can be no changes to the existing data file formats; additionally, there is a modified calendar for November and December, see below
- Repurchase Transactions are not impacted
- Previously agreed to Mid-month December transfers will be completed.
*blackout period is primarily driven by the end of year system freeze.
Modified Calendar for November and December 2014 (please alert your Sellers and Servicers):
|November 2014||Internal Transfer – Fannie Mae, Ginnie Mae, Asset Loans||Submission of Final Loan List||Friday 11/07/14|
|November 2014||Internal Transfer – Freddie Mac Loans||Submission of Final Loan List||Wednesday 11/19/14|
|November 2014||Flow Transactions also known as ‘Monthly Bulks’||Submission of Final Data File||Monday 11/17/14|
|December 2014||Internal Transfer – Fannie Mae, Ginnie Mae, Asset Loans||Submission of Final Loan List||Monday 12/08/14|
|December 2014||Internal Transfer – Freddie Mac Loans||Submission of Final Loan List||Thursday 12/18/14|
|December 2014||Flow Transactions also known as ‘Monthly Bulks’||Submission of Final Data File||Wednesday 12/17/14|
If you have any questions or concerns, please contact your Relationship Manager or me.