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):

If you have any questions or concerns, please contact your Relationship Manager or me.