Servicers are well positioned for workplace disruption, says KBRA; Union Bank pledges $3MM to communities, $200K staff support fund; Free boredom-busting online education for kids

LOOKS LIKE MORTGAGE SERVICERS HAVE LEARNED THEIR LESSONS WELL. The market’s prior disruptions, whether from the terrorist attacks of September 11, the global financial crisis of 2008, the daily threat of cyber attacks or natural disasters, have motivated mortgage servicers to prepare for future disruptions, according to a Kroll Bond Rating Agency (KBRA) report.

Most servicers “are well positioned for potential COVID-19 workplace disruption,” analysts wrote. The authors of KBRA’s Coronavirus (COVID-19): U.S. RMBS and Residential Real Estate Ramifications report sent questionnaires to 14 servicers active in the private label security market “including some of the largest nonbank sub-servicers, national banks, and servicers with a specialty focus on nonperforming and re-performing assets…

UNION BANK HAS JOINED THE MANY BANKS PLEDGING COVID-19 ASSISTANCE. The Los Angeles-based bank pledged $3 million to local communities affected by COVID-19 and launched a $200,000 Employee Relief Fund alongside other staff aid.

Union Bank will allocate $3 million to assist community needs, in collaboration with nonprofit organizations, local government agencies and public-private humanitarian partners: $1.4 million for small business operations in low-to-moderate income communities; $1 million go to existing small business grants; $500,000 for…

MILLIONS OF AMERICANS ARE EXPERIENCING A WHOLE NEW LEVEL OF CRAZY. All across the country, sheltering-at-home adults are living an all-day-everyday reminder of just how fast children get bored.

While not a cure-all, a science class in the backyard may help bust the boredom buildup. The green space in our backyards and neighborhoods are more important now than ever, says The TurfMutt Foundation, which offers free stay at-home resources to keep children occupied and learning during the self-quarantine. The newly created foundation launched recently by Outdoor Power Equipment Institute (OPEI)…