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Cenlar FSB, BaseCap Partner On New Servicing Compliance Program

Cenlar FSB, the second-largest mortgage servicer and largest subservicer in the U.S., has partnered with financial services-focused data and analytics company BaseCap Analytics to pilot a new program designed to enhance regulatory and operational processes and compliance.

The technology is designed to help businesses with “their data management and regulatory reporting by rapidly identifying data inconsistencies,” according to an announcement of the partnership. These kinds of process improvements could help resolve issues while improving accuracy, BaseCap said.

Through the arrangement, “Cenlar expects to fortify its compliance processes for all applicable regulations and increase operational efficiency,” according to the announcement.

“We are pleased to pilot BaseCap’s solutions in an effort to strengthen our ability to comply with an increasingly complex web of mortgage servicing regulations,” said Cenlar SVP of Loan Operations William Moffett. “Providing greater data transparency aligns with our commitment to using new technology to advance the homeowner experience.”

Cenlar has been focused on developing new automation solutions to enhance its offerings, the announcement explained. The partnership is seen as a chance to improve its technological processes.

“By leveraging our proprietary data validation technology, organizations like Cenlar can improve the accuracy of their data to make faster decisions and deliver a better, trusted customer experience,” said Steve Smith, CEO at BaseCap. “We are thrilled Cenlar shares our mission to set a new standard for data integrity and trusted automation.”

At the end of October, Cenlar appointed David Schneider as its new president, having previously served as chief financial officer of the company for four months.

HousingWire Editor-in-Chief Sarah Wheeler also recently sat down with Nicolas Guillen, co-founder of BaseCap, to discuss issues including data, AI and other tech problems that require new solutions.

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