Cenlar: Customized private label, branded solutions

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Focusing on their clients’ success is Cenlar’s hallmark. The company, which has offered mortgage loan servicing and subservicing for more than 50 years, ensures their clients’ market advantage by delivering fully customized servicing solutions that preserve the value proposition for their clients’ customers.

“We work with our clients to design a subservicing program based upon their specific loan products and requirements,” David J. Miller, Jr., business development director said. “We integrate the strengths of our business processes, our propriety technology and experienced management and servicing teams to provide clients a branded solution that exceeds their expectations.”

Cenlar’s private label subservicing program encompasses all servicing aspects, beginning with the day the loan is closed and delivered for servicing, through final disposition of the loan as a result of payoff, foreclosure, or sale of servicing. Clients get a dedicated toll-free number with their name; branded correspondence, including notices, ARM loan changes and year-end statements and monthly credit bureau reporting in their name.

“By selecting private label subservicing, our clients’ relationship with their customers keeps their name and identity in front of their customers in all interactions,” Miller said.

Cenlar clients also have access to a client portal — CenAccess — where they can obtain information about their loan portfolio 24/7. Clients’ customers can get information about their mortgage loan by accessing an Internet-based servicing system anytime from anywhere. Both the client and the customer have access 24/7 to loan level information.

“We invest in technology, training and telephony systems so that our clients don’t have to. The necessary resources and infrastructure are already in place and fully operational, so everything it takes to service our client’s loan portfolio well is ready when they are,” Miller said.

Cenlar’s default management services means that clients don’t have to get bogged down with managing the servicing of delinquent loans and complex default servicing activities. By providing professional handling of the default loan administration functions, Cenlar eases the process for its clients, which in turn allows them to focus on their core business.

And working with Cenlar reduces clients’ regulatory compliance servicing risk.

“The constant changes in regulatory requirements at all levels can pose a threat to their business. Cenlar’s Enterprise Risk Management Program gives clients the confidence that they are always in compliance with applicable servicing regulations,” Miller said.

Cenlar handles loan servicing operations for a variety of lenders, from community banks to the largest loan aggregators, adapting to each individual client with flexible solutions.

“Cenlar is committed to a diverse group of business partners ranging from small and large community lenders to very large aggregators,” Miller said.

“Having the adaptability to provide private label service of quality and character to reinforce the client’s strong commitment to customer service (for small or large community lenders, credit unions, etc.) or providing servicing of non-vanilla products (very large aggregators), Cenlar finds itself aligned with our business partners.”

That flexibility is critical as the market continues to evolve.

“As our clients’ portfolios change and business demands vary over time, Cenlar’s servicing capabilities adapt instantly to meet their needs and offer the perfect fit,” Miller said.

Cenlar accomplishes this perfect fit by:

Delivering the right customer experience by aligning targets and goals with clients. The company does this through both a transfer operations meetings and a series of culture training programs that it develops with clients to assure that the entire Cenlar servicing organization understands, thinks, and delivers service the way the client delivers to its customers.

Understanding a client’s view toward products and services — assuring that Cenlar understands not only the products that a client offers to its customers today, but more importantly, that Cenlar understands and includes the right team members in the development and delivery of future products and services, which will ultimately contribute to a clients’ on-going future success

“We pride ourselves on our customized solutions and have a proven track record of continuing to create unique niche subservicing solutions for our partners,” Miller said. “We deliver customer centric experiences that are critical to our clients’ service delivery.”

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