in the creation of the Homeowner’s Assistance Fund (HAF). The HAF programs will be administered at the individual state level and are just getting started. We have witnessed the consequences the national and worldwide pandemic has had on our borrowers and their families. We have seen borrowers struggle paying their taxes, insurance and homeowner’s dues, which puts them at risk of foreclosure. However, PHH continues to reach out to borrowers to enter repayment programs, and we are eager to participate in the HAF programs that will provide financial assistance to qualifying borrowers. Any time a borrower or authorized party reaches out for help or answers our phone calls or responds to our letters we are ready to provide assistance, so that they understand their options and avoid a foreclosure whenever possible. RM: Reverse mortgage servicers are becoming more tech savvy to be more efficient and improve the customer experience. What technological innovations has PHH implemented recently, or has plans to implement in 2022? LF: I am delighted to be part of the PHH servicing organization that has developed some extraordinary innovations on the forward side of the house. There have been significant investments in technology to enhance the customer experience and operational execution. Technology is a big driver for PHH. I believe a lot of PHH’s technology innovations will ultimately benefit our reverse servicing operation and customers. New ways of doing things with improved technology is a reality at PHH. Most important is that the reverse business, both originations and servicing, is valued at PHH. I also know that out of this pandemic we have all become resilient and learned that dramatic change can be really good. Improvements in educating borrowers and explaining what happens after a reverse loan is originated through the end of the life of the loan will become easier with improved technologies. While we may have grown weary of Zoom meetings, there is no denying that virtual meetings with borrowers versus the traditional phone call is a winner. RM: What’s a typical day like for a servicing executive like yourself? Do you interact much with consumers, or are you and your team focused mostly on compliance? LF: They all seem unique and very challenging. The old saying of “there just aren’t enough hours in the day” comes to mind. However, the best part of any day is interacting with borrowers. While I am not on the “front line,” helping those who are is the highlight of any day. From the Top continued from page 13 From the Top 14 REVERSE MORTGAGE / MARCH-APR I L 2022
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