OCC Sanctions Subservicer Cenlar for Poor Risk Controls

HousingWire, Oct. 27, 2021–Flavia Fulan Nunes
The Office of the Comptroller of the Currency issued a consent order against Cenlar FSB, the nation’s second-largest mortgage servicer, over “unsafe or unsound practices,” the regulator said this week. The consent order states that New Jersey-based Cenlar cannot take on new subservicing clients without explicit approval from the OCC.