As of May 1, 2024, Specialized Loan Servicing (SLS) has transitioned to Newrez. This article outlines crucial updates for Sls Servicing clients regarding this change, particularly concerning Federal Home Loan Bank transactions.
Effective June 1, 2024, the SLS Serviced Released business will migrate to the Newrez platform for all Federal Home Loan Bank operations. While existing SLS Service Released commitments will be honored within the SLS system until funding, all new commitments should be locked with Newrez starting June 1, 2024. This comprehensive guide provides key details and action steps to ensure a seamless transition for all clients.
Key Changes and Action Steps for SLS Servicing Clients
This transition necessitates several important adjustments for SLS servicing clients. The following sections detail critical information and action items for a smooth transition.
Accessing the Newrez Platform
- Client Portal: The new client portal, your central hub for announcements, guide updates, and suspense items, is located at newrezcorrespondent.com. You will also be able to upload documents through this portal. Credentials for accessing the Newrez platform will be provided.
- Contact Information: The primary contact number for all associates is 877-700-4622. Your dedicated Operations Team will remain the same, ensuring continuity in your service experience. However, employee email addresses will change to the format [email protected].
Updating Your Documentation
Effective June 1, 2024, please make the following critical updates to your documentation:
- Goodbye Letters: Remove all references to “Specialized Loan Servicing, LLC” and replace them with “Newrez LLC.” Update the borrower phone number in your Goodbye Letters to 866-317-2347.
- Payment Address: Change the payment address on your Goodbye Letters to:
Newrez LLC
P.O. Box 10826
Greenville, SC 29603-0826 - MERS: Utilize the Newrez ORG ID 1007544 in the Mortgage Electronic Registration Systems (MERS).
Training Opportunities for Co-Issue Delivery
Newrez offers comprehensive training sessions on co-issue delivery options with the Newrez platform. These sessions, commencing on May 8, 2024, are highly recommended to familiarize yourself with the new processes.
Additional Resources and Support for SLS Servicing Clients
Newrez is committed to providing ongoing support and resources to ensure a smooth transition.
Comprehensive Training Curriculum
Access a comprehensive training curriculum on Newrez products and processes at our training site. This resource provides valuable information on the latest developments in products, technology solutions, compliance issues, and process improvements.
Correspondent Regional Sales Managers
For specific regional inquiries, please contact the appropriate Correspondent Regional Sales Manager listed in the table below.
| Regional Sales Manager | Territories | Email Address | Phone Number |
|---|---|---|---|
| Margaret Chiavini | VP, Bank and National Credit Union Division | [email protected] | 775-741-3000 |
| Rebecca Sommer | AK, AZ, CA, HI, ID, NM, NV, OR, UT, WA, and West TX | [email protected] | 916-677-7080 |
Contacting the Operations Team
For any further questions, please reach out to your dedicated Operations Team or email [email protected].
This transition marks an exciting new chapter, and Newrez is dedicated to providing a seamless experience for all SLS servicing clients. We encourage you to utilize the resources and information provided to ensure a successful transition.
