2 Capacity Each wave will bring capacity challenges for lenders. The most immediate will be in the form of direct contact with borrowers (waves 1 and 2). The influx of loan modifications (wave 3) will follow shortly. Servicers should take immediate action to create scale. This comes with increased complexity, given the current work-from-home limitations and limited options to leverage a global workforce. Servicers should look internally for fungible skills that can be repurposed and externally for third parties that can quickly scale and provide relief. In addition, lenders should consider leveraging technologies such as chatbots or even a simple SMS redirect to guide customers to automated or self-serve options. These challenges have been addressed, for one lender, with the installation of Amazon Connect to intelligently route calls. This quick solution was delivered in 48 hours and has supported the organization to increase capacity via the addition of remote resources. These types of solutions allow lenders to get through the initial surge in call volume. The next 2-3 months will be an opportunity to anticipate capacity needs, tighten processes, and create scale. 8 COVID-19: Implications and next steps for lenders