Cenlar Will Give Its Clients Direct Access to Loan Data and Reports.(subservicing system)(Brief Article)

Cenlar FSB has entered into the second phase of developing its private label subservicing system for its clients.

Phase two, expected to be completed by the third quarter of this year, will give clients the ability to "do direct inquiries into their loans on the system" and create their own reports, said David J. Miller Jr., a senior vice president and business development director at Cenlar.

The private label system is accessible through the company's website (www.loanadministration.com).

The third phase will involve giving clients the ability to do "some updating" of their files. Currently, there isn't a projected release date for phase three.

Phase one, rolled out late last year, is a system which provides clients with "a client logo on all outbound letters, correspondents, coupon books, monthly billings, year-end statements and credit bureau reporting (statements and inquires).

"Their logo in front also gives them the ability to cross-sell other products and services," said Mr. Miller.

Cenlar also has a generic subservicing program that it uses "for certain clients that don't need to have an identity, such as some Wall Street companies and others that don't typically have other products and services to sell," he added.