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Information for former Taylor, Bean & Whitaker Mortgage Corp. (TBW) Customers

Customer Service Hours (EST):
Monday - Friday, 8:30am - 11:30pm
Saturday, 9:00am - 4:00pm

Contact Customer Service by...

E-mail: cs@cenlar.com

Phone: 866-305-6949
866-430-9689
877-680-5583

Or log onto www.loanadministration.com to access your loan information or make a payment.

Updated February 9, 2010:

Contact Us

Q - What are Cenlar's Customer Service hours of operation?
A - Our normal hours of operation are Monday through Friday 8:30 am to 6:00 pm EST. We expanded our hours to Monday - Friday 8:30 am - 11:30 pm and Saturday 9:00 am - 4:00 pm to better serve your needs. You may also contact us 24/7 via www.loanadministration.com or contact us via e-mail at cs@cenlar.com. Please include your loan number on all e-mail communications.

Website

Q - Is there a way I can view my account information online?
A - Yes, please visit our mortgage website at www.loanadministration.com and complete the registration process. Information such as loan balance, last payment amount, tax/insurance payments, and E-Pay via the web is just a few features available.

Q - I'm having difficulty registering on your website. I received an error message stating my information does not match.
A - If you have not tried already, please use your ten digit Cenlar loan number when registering on the website. If you continue to receive an error message, please contact Customer Service.

Year-end Reporting

As you may be aware, your previous servicer, Taylor, Bean & Whitaker Mortgage Corp. (TBW) has filed for bankruptcy protection and all funds received by TBW on the loans we are servicing have not yet been released to us. TBW, the FDIC and other entities involved in the bankruptcy are in the process of reconciling TBW's accounts. The reconciliation process has impaired our access to certain TBW records and funds. Regrettably, we have no control over when this matter will be resolved.

The following are answers to some frequently asked questions regarding year-end reporting.

Q - The servicing of my loan was transferred from TBW to Cenlar. Will I receive a year-end statement from them as well?
A - No. You will receive a single 2009 Mortgage Interest Statement (Form 1098) from us that reflects all funds posted to your account for the entire year of 2009.

Q - Can I deduct mortgage insurance premiums?
A - We cannot provide you with tax advice. Please review the IRS instructions or contact your tax advisor for more information.

Q - Why doesn't the mortgage interest received (Box 1) on my Mortgage Interest Statement (IRS Form 1098) show all the interest I paid?
A - If you made payments in 2009 that were due for February 2010 and later, the interest for these payments is not reportable to the IRS for tax year 2009 and will be reported on next year's year-end statement.

Or, as a result of TBW's 2009 bankruptcy filing, all funds received by TBW have not yet been released to Cenlar, and therefore not shown.

Q - If I find a discrepancy in my Mortgage Interest Statement, what should I do?
A - You must advise us of the discrepancy in writing and provide us evidence of any payments that should have been credited. Please include your loan number, state the specific reason you believe your 2009 Mortgage Interest Statement is in error, and mail to: Cenlar FSB, PO Box 211091, Eagan, MN 55121.

If you believe a payment you made in 2009 was NOT credited to your account, the following types of documentation are acceptable forms of proof of payments and should be sent to the above address:

  1. Paper payments - Copy of any cancelled checks, money orders or cashier's checks for payments for which you believe you were not credited. The copies should include the front and back of the cancelled item, including the date paid and dollar amount. In addition, if the payment was remitted via personal check, please also forward a copy of the bank statement showing proof of the withdrawal. If the payment was remitted via an official check or money order and the copy of the bank statement is not available to you, also forward an official letter from the bank issuing the instrument to show proof that the check or money order was paid.
  2. Electronic payments - Confirmation acknowledgement of online or telephone payments, including a copy of your bank statement(s) indicating date paid and amount of payment(s) withdrawn.
  3. Wire transfers - Wire confirmation from your bank showing Federal Reserve tracking number(s) as proof the payment(s) was wired, including a copy of your bank statement(s) indicating date of withdrawal for wire transfer(s).
  4. Payoffs (Sale or Refinance) - Evidence of payoff funds remitted (either wire transfer confirmation showing Federal Reserve tracking number(s) as proof the payoff was wired or a copy of the front and back of the cancelled official check with an official letter from the bank issuing the check as proof the check was paid), as well as the HUD 1 Settlement statement you received at the closing of your new loan.In the event that you already provided evidence of payment to us, we will contact you if we require any additional or clarifying information. Otherwise, no further action is required on your part.

If we determine there is an error, a corrected statement will be filed with the IRS, and a copy provided to you within 30 business days of our verification of the error.

Please note - we do not report information to the IRS on the amount of real estate taxes you paid. The amount shown on your statement reflects the real estate taxes we paid on your behalf and is for informational purposes only.

Q - If there are two or more borrowers named on my loan, whose social security number (SSN) is used for reporting purposes?
A - The SSN of the first person listed on the original loan documents is used for reporting purposes.

Q - How soon will you credit my account for the missing payment(s) or payoff(s)?
A - Payments will be credited to your account as soon as we verify your supporting documentation OR the funds are released by the bankruptcy court.

Q - Should I wait to file my 2009 tax return until the payment/payoff issues are resolved?
A - We cannot give tax advice and suggest that you seek the advice of a tax PROFESSIONAL.

Q - Will I receive a new 2009 Mortgage Interest Statement once my missing payment has been posted to my account?
A - Yes. Once we verify your supporting documentation or the funds are released from the bankruptcy court, your account will be credited and we will file a corrected Mortgage Interest Statement with the IRS, providing a copy to you.

Tax and Insurance

Q - I received a real estate tax and/or property insurance bill. What should I do to ensure my bill is paid?
A - All real estate tax bills should be mailed to: Central Loan Administration & Reporting, 6053 S. Fashion Square Drive, Suite 200, Murray, UT 84107 or fax to (801)-284-4680. Please reference your Cenlar loan number on the bill.

Property insurance bills should be mailed to: Central Loan Administration & Reporting, PO Box 202028, Florence, SC 29502-2028 or Fax to (843)-413-7133. Please reference your Cenlar loan number on the bill.

Q - TBW was supposed to pay my real estate taxes, however they didn't and now they are past due. How can I make sure they are paid by you?
A - To expedite the payment of your taxes, please fax a copy of your tax bill to (801) 284-4680 and include your Cenlar loan number. Please be assured that you will not be responsible for any penalty and interest charges assessed.

Q - My insurance policy is in jeopardy of being cancelled because the bill remains unpaid, what should I do?
A - In the event you received a cancellation notice, please fax a copy of your bill to (843) 413-7134 and make certain you include your Cenlar loan number.

Q - Will my hazard insurance mortgagee clause and loss draft information on my policy change?
A - You should contact your insurance company to confirm that the new servicer change is reflected on your policy. Please include your Cenlar loan number with the Mortgagee Clause change. The mortgagee clause should read as follows:

Central Loan Administration & Reporting, its successor and/or assigns
PO Box 202028
Florence, SC 29502-2028.

Payment Handling

Q - Who do I make my payment checks payable to?
A - Central Loan Administration & Reporting

Q - Where do I send my payment?
A - Please send your payment to Central Loan Administration & Reporting, PO Box 11733, Newark, NJ 07101-4733. You may check our mortgage website to confirm receipt at www.loanadministration.com. Payments can also be made on-line via the website.

Q - I would like to make my payment online. What do I need to do?
A - To make an online payment you must first register and log into our website, www.loanadministration.com. Then click on "Current Loan Information" and select "Make your Payment Online". The system will guide you through a step by step process to complete your transaction.

Q - Have I been charged any late fees during the servicing transfer transition period?
A - Central Loan Administration & Reporting

Q - You are not reporting to the credit bureaus during this transition period, when can I expect this to begin?
A - We are not reporting because we do not have accurate information from TBW about some borrowers. We haven't reported any former TBW borrowers because we have no way of indentifying those who are affected. However, if you prefer to have us begin reporting on your loan to the credit agencies, please contact us by telephone or e-mail.

Refinancing/Loan Modifications (Home Affordable Mortgage Program, Home Affordable Refinance Program))

Q - How do I find out more about the Home Affordable Refinance Program (HARP)?
A - Information about the federal Making Home Affordable (MHA) programs, including HARP, is available on the MHA website. This website provides detailed information on the options available under MHA along with resources to assist you with determining if you are eligible for a refinance or modification under the program.

Q - What options under HARP are available to former TBW customers?
A - If you are current on your mortgage payments and have a loan owned by Freddie Mac, you may contact any Freddie Mac-approved lender to determine your eligibility for refinancing under HARP, even if the lender is not the current servicer of your loan.

Q - Why can't Cenlar as my current mortgage servicer refinance my mortgage under HARP?
A - While Cenlar specializes in mortgage servicing, we do not originate loans and, as a result, are unable to refinance your mortgage. As your mortgage servicer, Cenlar and its representatives are available to meet all of your ongoing servicing needs, including a potential modification of your mortgage, if you are eligible.

Q - Can Cenlar help me find a Freddie Mac-approved lender that is participating in HARP?
A - Yes. The Freddie Mac-approved lenders listed below have agreed to help former TBW borrowers determine if they are eligible for refinancing under HARP. As a first step, answer the questions below to determine if you may be eligible to refinance your loan under HARP:

  1. Are you the owner of a 1-to 4-unit home?
  2. Does Freddie Mac own your existing mortgage? (To help you determine this, please use Freddie Mac's lookup tool at www.FreddieMac.com/mymortgage.)
  3. Are you current on your mortgage payments? ("Current" means that you have not been 30 or more days late on your mortgage payment in the last 12 months.)
  4. Do you believe that the amount you owe on your first mortgage is about the same or less than the current value of your house? (You may be eligible if your first mortgage does not exceed 125 percent of the current value of your home.)

If you answered "yes" to the above questions, the following Freddie Mac-approved lenders may be able to assist you with refinancing under HARP. Please note the states in which these lenders originate loans and the maximum loan-to-value ratios (your loan amount divided by the value of your home) permitted for borrowers refinancing under HARP. As with all financing decisions, you must decide which lender is best suited to meet your needs and you must meet all the lender's refinancing requirements. Note: the lenders and terms listed below are subject to change at any time at the discretion of the lenders.

Q - Do I have to use the Freddie Mac-approved lenders listed on your website to refinance my mortgage under HARP?
A - No. You may work with any Freddie Mac-approved lender offering a HARP refinance. We encourage you to contact lenders in your community to find out if they are an approved Freddie Mac lender and if they participate in HARP.

Q - What if I don't qualify for refinancing under HARP?
A - While HARP is designed to assist a large number of borrowers who are current on their mortgage payments but have been unable to refinance because of declining home values, not all borrowers or all loans will qualify for refinancing under the program. Please note that HARP is just one of several refinancing options in the marketplace that may be available to you. We encourage you to explore other available refinancing options based on your specific needs.

If you are current on your mortgage payments, but are facing financial challenges such as a significant increase in your mortgage payment, a reduction in your income, or a financial hardship that has increased your expenses, you may contact Cenlar directly to determine if you are eligible for a loan modification under the Home Affordable Modification Program (HAMP).

Q - I am current on my loan, but I have recently had some changes that will impact my ability to pay my mortgage, what should I do?
A - If you're current on your loan and you would like to reduce your payments or change from a fixed rate to an adjustable rate, you may qualify for a refinance through the Making Home Affordable program. Please review the list of questions below to determine if you are eligible.

  1. Are you the owner of a 1-to 4-unit home?
  2. Do you have a loan owned or guaranteed by Fannie Mae or Freddie Mac?
  3. Are you current on your mortgage payments (not more than 30 days late on your payments during the past 12 months)?
  4. Do you believe the amount you owe on your first mortgage is about the same or less than the current value of your house?

If you answered "yes" to the 4 questions above, you may wish to visit the http://makinghomeaffordable.gov website for more detailed information about the Home Affordable Refinance Program.

Q - My loan is past due/I'm unable to make my payment due to hardship and I want to keep my home. What programs are available to help me?
A - We may be able to help make your mortgage payment more affordable through the Making Home Affordable program. If you're having trouble making your mortgage payment or have already missed one or more payments, you may be eligible for a modification. Please review the list of questions below to determine if you are eligible.

  1. Is your home your primary residence?
  2. Is the amount you owe on your first mortgage equal to or less than $729,750?
  3. Are you having trouble paying your mortgage?
  4. Did you get your current mortgage before Jan. 1, 2009?
  5. Is your payment on your first mortgage (including principal, interest, taxes, insurance, and homeowners association dues, if applicable) more than 31% of your current gross income?

If you answered yes to the 5 questions above, you may wish to visit the http://makinghomeaffordable.gov website for more detailed information about the Home Affordable Modification program.

Payoff

Q - How do I order a payoff statement?
A - Please e-mail the following information to TBWpayoff@cenlar.com