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44 Feature By: David Wharton e property preservation sector has always served as a critical arm of the housing and mortgage lifecycle, ensuring that vacant properties are maintained on their way back into the market, as well as helping combat urban blight during the period when they sit empty. However, this sector has seen significant pain points in recent years, as the economic impacts of COVID-19, inflation, supply-chain issues, and other headwinds have presented challenges for those companies that continue to serve in this arena, even as those same factors have driven other companies under or forced veteran prop pres workers to seek out other industries entirely. Continuing a long-standing fall tradition, DS News, this month, speaks with a roundtable of property preservation executives to learn about how they are tackling these issues and working to ensure that our nation's stock of REO and vacant properties are attended to, as well as ensuring that the property preservation sector has the manpower and an economic model that will permit it to thrive going forward. Nickalene Badalamenti-Kalas President, Five Brothers Asset Management Solutions What regulatory issues or impacts are most challenging for the property preservation sector? How are you navigating them? Completion timeframes can be challenging in today's environment. ere are fewer vendors available to complete necessary services collectively, and with the additional consideration of greater travel distance, it will take preservation companies longer to locate a vendor that is willing to travel to a remote area. In addition, we may be required to source a less experienced vendor out of necessity, which may result in inadequate photos/reporting and the need for a return trip to the property, further protracting the timeline. A recent National Organization of Mortgage Field Services survey identified a significant exodus of vendor partners that provide direct boots-on-the-ground services. Are you experiencing challenges maintaining necessary labor or vendor partnerships, and if so, how are you combatting this? Absolutely. Fundamental to our business philosophy is creating and maintaining relationships with seasoned vendors. We are dedicated to collaborating with field vendors to ensure they remain viable. We understand the challenges field vendors face in today's THE FRONT LINES OF PROPERTY PRESERVATION DS News speaks to property preservation experts about how they're navigating economic challenges, a shifting industry landscape, and an exodus of vendor partners as they attempt to maintain strong boots-on-the-ground service.