is the second update on our COVID-19 preparedness. Our Pandemic Task Force
meets daily to discuss our readiness in accordance with our Business
Continuity/Disaster Recovery (BC/DR) plan. This plan, along with information
provided by federal, state and local government, continues to inform our
decisions to protect our employees and sustain core business operations and the
service provided to you and your borrowers.
over the last several weeks, we have focused our efforts on preparing for
absences and/or remote work for significant portions of our employee population
so that we may assure critical business functions for you and your borrowers.
As the situation evolves, our team is also readying for the potential impact to
borrowers. Here’s how:
managers are here and ready to talk with you about any questions or concerns
you may have.
In order to deal
with these exigent circumstances, and to account for absenteeism, we have
revised our client corporate resolutions to enable Cenlar authorized officers,
as well as our vendors (including counsel), to execute service related
This will allow
flexibility to appoint personnel as necessary to provide for a continuance of
operations. Your client managers will forward the new resolution to you within
a day or so. We ask that you execute and return promptly.
As you have done
at your organizations, we are taking every precaution to prepare for any impact
to our business. While there are no significant disruptions to business as usual
yet, we will keep you apprised of any significant changes as they occur.
For example, as
we execute on our BC/DR plan, our call center routing may not adequately
capture all calls for reporting purposes, and some reporting could be
In order to
better handle your requests, please keep us advised of any significant changes
to your business so that we may adjust our plans as needed.
Remote Work – A portion of our workforce across the organization is already working remotely, and we continue to execute on plans to move additional functions and people to a remote basis.
Borrower Support and Outreach
Our team is
following Cenlar’s disaster playbook. We are paying close attention to the
potential impact to borrowers and the triggers for leveraging relief measures
typically available in times of natural disaster, as well as any additional
supports that may be offered through the government—for example, implementing
HUD’s elimination of the face-to-face requirement.
crisis, to the extent applicable, we are following GSE guidelines on borrower
relief that allow a 90-day forbearance for “reduction in income hardship.”
We have prepared
an initial email letting borrowers know that we are here should they need our
will roll out borrower messaging via our other available channels – website and
IVR – to make it easier for borrowers to get the information they need and work
We are developing
an identifier that can be tracked on a loan level that will allow us to track
all borrowers who are impacted by the pandemic.
Business at Cenlar
reminder, following guidance from our BC/DR Plan and the CDC, we have taken the
following steps that pertain to how we do business during this period:
Cleaning – We continue to encourage
all employees to frequently wash their hands and practice good hygiene. Our
facilities are cleaned thoroughly each day.
Review – We continue to work with all
of our departments to proactively review and enhance our BC/DR plans that are
intended to address a comprehensive set of threats, including a pandemic.
Vendor Preparations – On-site vendor meetings
have 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.
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.