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61 or likely will be, exposed to potential damage, Mosley added. "With that valuable information, we are able to act quickly to prioritize next steps in securing homes." However, though the technology exists, some lenders and servicers have yet to avail themselves of it, Mason said. "When consumers need [disaster] assistance, they should be able to click a button, launch workflow, and then they get responsiveness from their servicer, investor, or where they bank. Servicers are much more tuned in, especially in the last five years, to the borrower experience, to make sure borrowers have what they need." As important as technology is, servicers should also have staff or third parties to inspect damaged properties in order to assess whether there are likely to be abandonments and foreclosures, O'Connell said. Some disaster areas may not be accessible by human staff for a few days, so drones may help with damage assessments. LESSONS FROM A PANDEMIC ough not a disaster in the same vein as hurricanes, tornados, floods, and the like, the COVID-19 pandemic provided some important lessons in disaster preparedness for servicers and homeowners alike. "Communication is the most important thing we learned," Iafigliola said. "As the outbreak occurred, incidence rate of COVID-19 varied greatly, as did the local rules and requirements related to travel, work, and lockdowns. Regular and ongoing communication with homeowners, vendors, and clients ensured everyone was on the same page and well-informed as information and guidance changed quickly." "At the start of the pandemic, one of the challenges facing all our customers was confusion and misinformation," Hughes said. "Some customers came to believe relief options existed that didn't and were understandably upset with the options that do exist." At the outset of the crisis, RoundPoint developed dedicated COVID-19 resources and information as well as an online tool that enabled impacted customers to quickly and easily set up a forbearance plan themselves. Since then, the online tools have expanded to allow customers self-service forbearance extensions and post-forbearance resolution options. "e online experience is designed to detail how the forbearance program works, how extensions work, the protections afforded them during the plan's term, and a detailed list of their post-forbearance options to address the balance of forborne payments resulting from the plan's utilization," Hughes explained. "Our customer service associates have been trained to help our customers understand the same information. Both the online and the on-phone experience ends with an assurance we will touch base with them regularly throughout the forbearance plan via phone calls and emails to check in on them and guide them through the next steps." "When the pandemic hit, we quickly realized that much of our thoughtful planning was not applicable as we dealt with a national emergency on a scale that we had never before seen," Mosely said. "We quickly learned that flexibility and resiliency were the core competencies that would guide us over the next year. Each day, and sometimes each hour, we learned information that changed the way we needed to operate. One example was the struggle for vendors to gain access to some work areas during government mandated shelter-in- place orders. We worked quickly to provide our vendors with documentation signifying their essential worker status, which allowed them the access they needed to reach our clients' properties." e pandemic again put the idea of disaster in the forefront of the mind of the servicing industry, which is a good thing, according to Mason, because "disasters are going to happen." Indeed, according to a CoreLogic report, the National Oceanic and Atmospheric Administration (NOAA) has projected a total of 13-20 named storms, 6-10 hurricanes, and 3-5 major hurricanes, defined as Category 3 and higher for the current hurricane season, California and other nearby states are experiencing drought conditions that make wildfires more of a risk, while other areas of the country face the seasonal threats of tornadoes. ose near rivers and other bodies of water also face flood risks, though the current national drought conditions may have mitigated those concerns. "As climate change continues to reshape the way storms behave, the risk in these hurricane- prone areas will continue to increase," CoreLogic warned. "Based on data from NOAA National Centers for Environmental Information, over the past four decades we've seen a 70-90% increase every decade in total inflation-adjusted losses from weather events in the United States—and this trend isn't slowing down. Many of the increases are driven by population migrations from expensive metropolitan areas to high-risk, more affordable coastal areas." PREPARING FOR FUTURE DISASTERS e most important way to prepare for future disasters is for government-sponsored agencies and mortgage servicers to provide boots on the ground with pre-approval to take immediate action based on facts at the property, Iafigliola noted. "e biggest enemy we have in these situations is time. When we go to a property, we need to be able to remove water, patch a roof, and do repairs to stop damages from progressing. Often, a bid process slows everything down and wastes time and trips to properties for vendors. Utilizing vendors to provide bids versus utilizing vendors to fix immediate issues is a critical waste of resources in a disaster event." Have a go-list of home repair specialists, Schachter recommended. "Whether it be a property that needs to be boarded up or you "When the pandemic hit, we quickly realized that much of our thoughtful planning was not applicable as we dealt with a national emergency on a scale that we had never before seen." —Chad Mosley, President, MCS

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