June 28 Update on Exela Cyber Incident

As we made you aware last week, Exela, our lockbox/check processing vendor, experienced a cyber incident that resulted in Exela immediately shutting down its operations out of an abundance of caution.

Exela has told us that it has fully restored operations in the larger of its two processing locations. The processing backlog at this larger volume site has been cleared, and the location is back to business as usual.

The result is that, to date, Exela says it has worked through approximately 2/3 of the total backlog across both locations. However, the cyber incident has required a new server be installed at Exela’s smaller West Coast location, work that has not been completed yet. This has prevented Exela from starting to clear the backlog in processing checks sent to this location.

As soon as we have more details on a completion date, we will let you know. We will also provide a list of accounts affected by the backlog once check processing has been completed.

Exela also continues to investigate the cyber incident, and has confirmed that no homeowner data has been compromised at this time. Our team remains in close contact with Exela.

As a reminder, all payments will be effective dated to reflect the date of receipt when processing resumes. No credit reporting or late fees will be assessed to the impacted payments.

The information provided above is the most up-to-date and complete at this time. We will advise you again as soon as we have new information to share.

We thank you for your patience as we continue to work to obtain more information from Exela.