Next steps for loan servicing NOW NEXT Responding to these challenges will be a defining moment for lenders, one that will likely have major brand implications. We recommend that you consider a program of actions that include: 1. Command center 2. Capacity 3. Digital workforce Create a COVID-19 taskforce Take immediate action to Take on board additional staff to or command center within create scale. work remotely. your organization. 4. Process 5. Technology Manage changes resulting from Invest now in technology that will revised guidelines which impact drive long-term efficiency via existing processes. borrower self-service and automation. 6 COVID-19: Implications and next steps for lenders