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Disaster recovery policy often leaves homeowners to coordinate next steps

HousingWire notes disaster recovery can break down when agencies and industry players work in separate parts of the system, forcing homeowners to act as de facto project managers.

Reported · Written up by our desk · Residential

HousingWire reports that disaster recovery efforts can be hindered even when programs are designed and funding is approved, because guidance across the housing system is not coordinated enough to answer a basic homeowner question, what to do next.

California Mortgage Bankers Association CEO Paul Gigliotti said a disaster-affected homeowner often has to connect multiple moving parts, including an insurance claim, the existing mortgage and potential forbearance, loss-draft requirements, rebuilding estimates, construction financing, permits, and public assistance, while still trying to recover.

Gigliotti argued that while advocacy can begin as education that brings industry expertise into the policymaking conversation, it also needs to ensure good policy survives real-world implementation, including through collaboration among lenders, servicers, insurers, builders, and local governments.

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