HELOC Loan Servicing
What you need to know.
Payments |
Via Online Banking at Quorumfcu.org/login
Option 2: Use Online Transfers
(If the member is transferring funds from another bank (external) account, the member will need to move the funds from their external account to a Quorum savings/checking account. Click here to learn more about setting up external accounts.) Over the Phone by Calling (877) 909-2544 By Sending a Check or Using Another Bank’s Bill Payment Service
Quorum Federal Credit Union |
Advances |
Via Online Banking at Quorumfcu.org/Login Please note: Advances made in online banking are subject to a hold of 3-4 business days. If funds are needed sooner, the member should follow the steps outlined above, then contact (800) 874-5544 to ask for an expedited processing of the previously submitted request. By Using the HELOC Checks Provided Draw checks will arrive approximately 10-15 business days after the HELOC funding date. |
Payoff QuotesAvailable within 2 hours
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Payoffs can be requested via phone, email, mail, or fax and are provided within 48 hours. The requestor will need to have the Cenlar loan number and the primary borrower’s phone number on file at Cenlar.Note: YOU DO NOT NEED THE BORROWER’S AUTHORIZATION TO REQUEST VIA THE AUTOMATED PHONE LINE.
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Subordinations |
Below is the list of subordination requirements for a loan with Quorum FCU:
The average turnaround time is fifteen business days. To expedite the process, we recommend sending all required documents via overnight delivery. If you are targeting an end of month closing, please have all subordination materials to us prior to the 15th of that month to avoid potential delays. Once your application is review and approved, Quorum will subordinate the full-face amount of our loan. We are unable to reduce or change the amount of our Note. Electronic delivery: mls@quorumfcu.org |
Address Changes |
Currently, Cenlar requires members to call (800) 874-5544, Monday through Friday, 8:30 a.m. – 12:00 a.m. ET (select option 4 and then option 2) to change their address. For fraud prevention reasons, Cenlar will not take an address request from Quorum, but requires the member to call them directly. We are evaluating if there are any other options for this. |
Account Balances/Available Credit |
Members will be able to see their balances, available credit and credit limit within the Cenlar portal. To access the portal, members should log into online banking, click on their second mortgage account and access the portal via the “make a payment” tab. |
Lien Releases/Mortgage Satisfactions |
If the loan was paid in full prior to 11/2/2019, Quorum will release the lien. Please escalate if there is a problem with a lien release. If the loan was paid in full after 11/2/2019, Cenlar will release the lien. The process can take up to 30 days; a paid in full letter is provided during the processing time. |
Escalations |
If you have any servicing issues that need immediate attention after you’ve reviewed these FAQs, please remit them to: mls@quorumfcu.org. |
Hazard Insurance Mortgagee Clause |
Quorum Federal Credit Union ISAOA, ATIMA
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Private Mortgage Insurance Mortgagee Clause |
Quorum Federal Credit Union ISAOA, ATIMA
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Cenlar Customer Support Hours & Holidays |
Cenlar Customer Support Hours:
Cenlar will be closed on the following holidays:
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Contact Us
Contact an Account Executive
Edward Burt
Email Edward
914.641.3735
NMLS #1771123
Vincent Buongiovanni
Email Vincent
516.503.1458
NMLS #406285
Lorena Petraglia
Email Lorena
914.641.3747
NMLS #1685357
Brock McCoy
Email Brock
914.641.3809
NMLS #455725
Angela Prospero
Email Angela
914.641.3766
NMLS #686430
Eli Shereshovech III
Email Eli
847.489.5626
NMLS #251321
Mark Panella
Email Mark
914.641.3782
NMLS #1450001
Anthony Cutrone
Email Anthony
914.641.3838
NMLS #7321
Ken Cudia
Email Ken
561.989.4306
NMLS #1698542
Laura Podhaski
Email Laura
914.641.3742
NMLS #909110
Or, tell us how to contact you
Banking That's Good. For You.™
Quorum Federal Credit Union is a leader in innovative mortgage credit solutions. For more than a decade, our alternative lending products have helped our clients grow their businesses and create win/win situations for borrowers and originators. To learn about how we serve our members visit quorumfcu.org.
© 2023 Quorum Federal Credit Union. Serving members since 1934.