While the recent federal government shutdown has officially ended, its impact on homeowners and the mortgage industry will linger for months, or even years, to come. Recently, LoanCare was featured in two leading publications—National Mortgage News and Inside Mortgage Finance—for its proactive approach during the shutdown and ongoing commitment to helping borrowers navigate and recover from the aftermath of the shutdown.
In Inside Mortgage Finance, industry experts examined whether the shutdown could lead to higher borrower delinquency rates. LoanCare contributed insights on proactive risk management, emphasizing the importance of early outreach and strong communication strategies to help borrowers stay on track during periods of uncertainty.
Meanwhile, National Mortgage News explored how lenders and servicers are coping with operational disruptions caused by the shutdown. LoanCare was highlighted for its commitment to continuity planning and customer care, ensuring that borrowers receive timely assistance even when external factors create complexity.
Early Action and Clear Communication
From day one of the shutdown, LoanCare anticipated homeowner concerns and acted quickly. They launched a dedicated FAQ site, prepared talking points, and developed internal reporting for clients—all designed to provide clarity and reassurance. “We had talking points ready on that first day of the month,” said Brent Potter, LoanCare’s Chief Operating Officer.
Initially, many homeowners opted to “ride it out,” but as the shutdown stretched into November, call volumes doubled and more homeowners requested assistance. Many were living paycheck to paycheck, making personalized support even more critical.
Lessons Learned from the Pandemic
LoanCare drew on experience from the COVID-19 crisis to guide its response. While forbearance requests started lower than during the pandemic, they increased steadily as uncertainty grew. Unlike the pandemic, many homeowners expected back pay once the shutdown ended.
To meet these needs, LoanCare implemented customized scripts and planned follow-up outreach to help homeowners bring accounts current. Homeowners received thoughtful, personalized care and education to match them with the appropriate product for their situation.
Continuing Support After the Shutdown
While the government is back to work, the ripple effects remain. Loan modifications delayed during the shutdown are resuming, and some homeowners may need additional assistance to recover financially. LoanCare remains committed to caring for homeowners through this transition with empathy, clarity, and tailored solutions.
For more information on how LoanCare provides subservicing that feels like an extension of your company and personalized customer care, contact our team.
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