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54 borrowers needing help. Increased call volumes should last for some time, too. According to a February 2020 CoreLogic report, mortgage delinquencies caused by the wave of catastrophic weather events that took place in 2019 are not expected to return to normal for 12 months or more. In the case of a much longer, sustained disaster like the pandemic, the impact on borrowers could last much longer as well. Over the coming months and years, the spotlight will be pointed at mortgage servicers. Questions will be asked about how prepared they were to help delinquent borrowers, as well as how well they performed in their objectives. e reality is that many weren't prepared. While it's fair to say that no one was prepared for a disaster of this magnitude, many servicers were ill-prepared to handle volumes brought on by near-term natural disasters, which now seem minor in comparison to the pandemic. Over the past several years, Mother Nature has exposed weaknesses among servicers and their capacity for managing large waves of borrowers in crisis. is happened despite the fact that servicers had plenty of opportunities to invest in technology and improve the customer experience in prior years. But there is always an opportunity to do better, even amid today's crisis. WHAT SERVICERS NEED TO DO Right now, servicers should be preparing for ongoing uncertainty in a post-moratorium world, where the only certainty is that call volumes will increase substantially. at's why, from a policy and operations standpoint, the first thing servicers should be doing is ensuring they have maximized all possible communication channels borrowers are likely to use. is includes providing assistance through the servicer's website and providing borrowers with access to their accounts regardless of their preferred method of communication. For example, while providing borrowers with self-service help on a servicer's website is important, so is a well-defined inbound call strategy. Many older borrowers do not prefer using the internet to get assistance on their mortgage, while other borrowers may find themselves without internet access for any period of time because of their financial challenges. is means servicers should have an inbound call strategy that limits the amount of time borrowers spend on hold before speaking with someone. It may also mean leveraging interactive voice response (IVR) technology that is able to gather information from borrowers when a representative isn't available. Another tool servicers should consider are mobile apps, which have proven to be incredibly valuable during recent natural disasters. Such apps are able to push out notifications to borrowers and remind them to reach out if they are having trouble making payments. ey can also be useful for sharing important information about the pandemic and other emergency resources that may be available to those in need. One of the more inexpensive channels for helping borrowers—and also one of the most overlooked—is social media, which also played a crucial role in staying engaged with borrowers during previous crises. Social media can be a powerful aid for letting borrowers know about all the options that exist that may keep them in their homes, such as payment moratoriums, mortgage forbearance, and financial assistance being provided through the federal government or housing agencies. Internally, there is plenty servicers can do to improve their behind-the-scenes operations while minimizing costs. For example, AI, machine-learning tools, and automation can help detect borrowers who may be experiencing trouble making payments before they contact the servicer to help. By automatically tracking anomalies The first thing servicers should be doing is ensuring they have maximized all possible communication channels borrowers are likely to use. Feature By: Allen Price