Cenlar Coronavirus Preparedness Update #1

Continuing our promise to keep you informed of our preparations for the Coronavirus, this is the first update on our progress. We expect to communicate with you regularly as we have news to share about the measures we’re taking to protect the continuity of our business and deliver the very best service to you and your borrowers.

Our Pandemic Task Force is meeting daily to discuss our readiness in accordance with our Business Continuity/Disaster Recovery (BC/DR) Pandemic Plan and take actions as needed related to the spread of the virus. Since last week’s client advisory, we’ve enacted the following measures:

Working with You

·       Client Meetings – Out of an abundance of caution for your safety and in response to concerns from many of you, we have suspended in-person client meetings for the next 30 days. In the interim, we will work via phone or video conferencing as needed. While we don’t yet know if we will need to extend the suspension, we will keep you apprised of any change to this policy so that you may plan accordingly. After we resume normal business practices, we are happy to accommodate your preference for meeting in-person or via phone or video conference.

Technical Readiness

·       Remote Work – We have significantly increased capacity for remote work across the organization with an additional supply of Chromebooks and expanded Citrix licenses.

·       Testing – Our IT and Security teams are working with all Cenlar departments to test remote capabilities – both equipment and connectivity – in the event of prolonged absences.

Conducting Business at Cenlar

·       BC/DR Plan Review – We have worked with all of our departments to proactively review BC/DR plans.

·       Vendor Preparations – On-site vendor meetings have also been suspended for the time being. In addition, we have requested and are reviewing the BC/DR plans for critical vendors. We will let you know if we need to take any additional actions.

·      Inter-Office and Business Travel – As with our client and vendor meetings, we have stopped in-person engagement across our facilities in favor of phone and conference calls among our employees. We have also postponed all business travel.