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Business ProfileforCenlar FSB
Additional business information
The following describes a government action that has been resolved by either a settlement or a decision by a court or administrative agency. If the matter is being appealed, it will be noted below.
WASHINGTON—Oct. 26,2021 - The Office of the Comptroller of the Currency (OCC) issued a Consent Order against Cenlar FSB of Ewing, N.J
The OCC took this action based on the bank’s failure to establish effective controls and risk management practices related to its mortgage servicing and subservicing activities.
The order requires the bank to take comprehensive corrective actions to address identified deficiencies and implement internal controls and risk management practices that are appropriate to the bank’s risk profile and the size of its mortgage subservicing operations. The order also limits excessive growth and prioritizes remediation by requiring the bank to receive no supervisory objection from the OCC before adding new subservicing clients and prior to declaring or paying dividends to shareholders while the order is effective.
Cenlar FSB is the largest mortgage sub-servicer in the country, performing servicing duties on behalf of financial institution clients throughout the United States, and the second largest mortgage servicer in the United States.
At-a-glance
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Overview
Business Details
This is a multi-location business.
- Headquarters
- 425 Phillips Blvd, Ewing, NJ 08618-1430
- BBB File Opened:
- 11/13/1997
- Years in Business:
- 61
- Business Started:
- 2/1/1963
- Business Incorporated:
- 2/1/1963
- Licensing Information:
- This business is in an industry that may require professional licensing, bonding or registration. BBB encourages you to check with the appropriate agency to be certain any requirements are currently being met.BBB records show a license number of 831252 for this business, issued by NMLS - Nationwide Mortgage Licensing System & Registry
These agencies may include:
NMLS - Nationwide Mortgage Licensing System & Registry
- Type of Entity:
- Corporation
- Alternate Business Name
- Central Loan Administration & Reporting
- Business Management
- Jim Daras, President/CEO
- Rob Lux, CEO
- Contact Information
Principal
- Jim Daras, President/CEO
- Additional Contact Information
Phone Numbers
- (609) 538-1234Other Phone
- (609) 538-1234
Customer Complaints
469 Customer Complaints
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File a ComplaintMost Recent Customer Complaint
05/20/2024
- Complaint Type:
- Billing Issues
- Status:
- Resolved
Customer Reviews
187 Customer Reviews
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Most Recent Customer Review
Amy M
07/31/2024
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