Transfers occur at the exact same time EEs occur. However, in HD 3.0, they are no longer announced in News and the only people to know who left are the coaches who lost them. You now have to "discover" these transfers (some will contact a number of schools within a specified range of where they're now located). Also once you have discovered them, you might be able to see their actual ratings by going to their old school and seeing if they appeared in any of their games and just clicking on their name.