Cenlar FSB
Cenlar FSB, Central Loan Administration and Reporting, a federally chartered savings bank, has serviced residential home loans for 40 years. It does not sell mortgages directly, but acts as a mortgage sub-servicer in all 50 states. In 2009 the bank serviced 375,000 loans worth $46 billion making it the 20th largest mortgage servicer in the United States.
Cenlar acknowledges that it has been struggling to keep up with the increase of mortgages in default and customer assistance calls. It’s been hiring underwriters and processors to keep pace with demand.
Cenlar is committed to implementing the Obama Administration’s Homeowner Affordability and Stability Plan under the following conditions:
- To be eligible, the loans must have originated on or before January 1, 2009.
- It must be a verified first lien, owner-occupied, with an unpaid principal balance up to $729,750 for single family homes, tiered up to $1,403,400 for four unit properties.
- The home may not be investor-owned, and may not be vacant or condemned.
- Bankruptcies are not automatically eliminated from consideration for a modification.
- Homeowners in active litigation regarding their mortgage loan can qualify for a modification without waiving their legal rights.
- Any foreclosure action will be temporarily suspended during the trial period or during the time that they are considered for alternative foreclosure prevention options.
- Loans can only be modified once under The Home Affordable Modification Program.
- There is no minimum or maximum loan-to-value ratio for eligibility
To contact customer service either write Cenlar at customerservice@loanadministration.com
or
Customer Service
Cenlar FSB
425 Phillips Blvd.
Ewing, NJ 08618
Or call 1-(800) 2 CENLAR (1-800-223-6527)
