Cenlar Loan Administration is into mortgage loan servicing and subservicing. They do this on wholesale basis. This means that they perform the daily administrative duties associated with the loan they provide.
On the other hand, their loan subservicing duties based on the power given to them by a financial institution to perform certain tasks on their behalf.
Simply put, they perform personal mortgage loan duties and undertake some functions on behalf of other financial institutions.
Cenlar Loan Administration provide over 3 million mortgage loans from over 150 banks, credit unions and mortgage bankers.
Products Offered by Cenlar Loan Administration
Cenlar provide a whole variety of services to their clients for their mortgage loans. Below are lists of mortgage loans;
- First and second mortgages
- Fixed rate and ARMs
- HELOCs (including multi-segment)
- Interest-only products / mortgages
- Negative amortization products
- Daily simple interest
- Biweekly products (also quarterly and annual payment loans)
- Pay option products
- Buy downs and balloons
- Conventional, FHA, VA and commercial
- HUD 235, section 8
- Purchase discount level yield
- FASB91 multiple fees/costs
Cenlar Services To Banks
- Customer contact and support
- New loan boarding
- Sales and acquisition activities
- Retention strategies
- Private securitizations
- Special products
- Regulatory compliance and reporting
- Escrow administration
- Default management
Cenlar Services To Mortgage Bankers
- Customer contact and support
- New loan boarding
- Sales and acquisitions activities
- Sales to other Cenlar clients
- Retention strategies
- Private securitizations
- Special products
- Regulatory compliance and reporting
- Escrow administration
- Default management
- Supporting your warehouse line agreements and acknowledgement agreements
Cenlar Services To Credit Unions
- Caring for members as if they were their own with responsive, empathetic and one-on-one service.
- Clear information and convenient loan management tools.
- Meeting and exceeding the unique service expectations of our credit union partners and their members, regardless of their size, and at the same cost structure.
Loan Servicing Areas From Cenlar Loan Administration
- Implementations
- Transfer Operations
- New Loans
- Client Management
- Investor Reporting and Accounting
- Cash Management
- Escrow Administration
- Special Products
- Customer Service
- Default
- Process Implementation/ Lean Process Management
- Enterprise Risk Management
- Business Resumption/ Disaster Recovery
Cenlar Loan Administration Payment Methods and other online activities
- Online payment
- Autopay
- Pay by mail
- Receive paperless statement
