HELOC Loan Servicing

What you need to know.

Payments 
Online: Members have two options via online banking once they log in to their account:
  • Access the Home Equity Loan portal.
    • Click on the second mortgage account from the dashboard, then the “Manage My Account” from here, they will be routed to the Cenlar payment portal.
OR

 

  • Use the Transfers feature in online/mobile banking to transfer funds from a Quorum savings/checking account.
    • Click on “Transfers” from the menu at left and follow the prompts.
    • Please note that members’ payments will not be reflected until the next business day with this method.
Phone (automated): Call (800) 874-5544, and press option 4, followed by option 2, then option 1.
Members will need the following:
  • Cenlar loan number
  • Primary borrower’s Social Security number
  • Mailing address on file at Cenlar
Mail - Members can send check payments to:Quorum Federal Credit Union
P.O. Box 11733
Newark, NJ 07101-4733
Bill Payment Service:
Members can still use their bank’s bill payment service. They’ll need their Cenlar loan number and the mailing address noted above (under Mail).
Advances
Members can make advances by check.
Note:
  • Advances are no longer available via online banking or MST.
  • Cenlar orders checkbooks within 48 hours of the loan boarding to their system and delivery takes 5-10 days.
  • If an emergency advance is required for a member, we do have an exception process we can employ. Please follow escalations process below.
Payoff Quotes
Available within 2 hours
if requested through the automated phone line.
48 hours for all other requests.
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.
The automated phone line is the fastest option and the only same-day option.
Phone: (877) 772-9633  (877-7PAYOFF)
Fax requests are completed within 48 hours.
Fax: (609) 718-4884, Attn: Payoff Dept.
Mail: Payoff Department
PO Box 77406
Ewing, NJ 08628
Note:
To ensure payoffs are processed efficiently, be sure to follow the payoff instructions on the payoff statement.  Please also note that a completed, signed authorization should be faxed to 609-718-1700. Payoff funds must be remitted in the form of a wire, certified check, cashier’s/bank check or attorney’s trust check.
Subordinations

Effective November 1, 2020

Quorum will be responsible for the review, approval, and execution of all Subordinations.

Submit subordinations requests digitally to mls@quorumfcu.org or by mailing a package to QFCU Subordinations, 2500 Westchester Avenue, Suite 411, Purchase NY 10577.

Checklist of required materials:

  • Copy of credit report (no greater than 60 days old)
  • Full loan application (Form 1003)
  • Copy of Commitment Letter
  • Copy of Appraisal (no greater than 60 days old)
  • Copy of Title Search (no greater than 60 days old)
  • Full name and address of new lender (as it is to appear on final subordination agreement)
  • Check made payable to “Quorum Federal Credit Union” in the amount of $75.00. The check should include a description that this is for a subordination fee.
  • Return shipping label for the delivery of subordination document
  • The average turnaround time for review and approval is 15 business days.

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 2to 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
c/o Central Loan Administration and Reporting
P.O. Box 202028
Florence, South Carolina 29502-2028
Fax: (843) 413-7133
Private Mortgage Insurance Mortgagee Clause
Quorum Federal Credit Union ISAOA, ATIMA
c/o Central Loan Administration and Reporting
P.O. Box 77404
Ewing, New Jersey 08628
Cenlar Customer Support Hours &  Holidays

Cenlar Customer Support Hours:
  • Monday through Friday, 8:30 a.m. - 12:00 a.m. ET
Cenlar will be closed on the following holidays:
  • New Year’s Day: ​Wednesday, January 1
  • ​Martin Luther King, Jr. Day: ​Monday, January 20
  • ​Presidents' Day: ​Monday, February 17
  • ​Memorial Day: ​Monday, May 25
  • ​Columbus Day: ​Monday, October 12
  • ​Veteran’s Day: ​Wednesday, November 11
  • ​Thanksgiving Day: ​Thursday, November 26
  • Christmas Day: ​Friday, December 25

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.

© 2021 Quorum Federal Credit Union. Serving members since 1934.