Paul Gigliotti, CEO of the California Mortgage Bankers Association, argues that successful disaster recovery hinges on bridging the gap between policy creation and practical homeowner needs. He emphasizes that even well-intentioned programs can fail if affected families struggle to navigate the complex process of rebuilding. Gigliotti highlights the California Disaster Rebuilding Assistance Program, a $100 million initiative administered by the California Housing Finance Agency, which uses interest-rate buydowns and loan-loss guarantees to help homeowners cover rebuilding costs beyond insurance.
To address the practical challenges homeowners face, the California MBA, in collaboration with Prudent AI and participating lenders, developed the California Disaster Rebuilding Portal at HomeRebuildNetwork.org. This platform aims to provide a clear starting point for residents, helping them identify financing options and connect with lenders and recovery resources. Gigliotti views this as a crucial step in replacing fragmented information with a more accessible system.
Furthering this collaborative approach, the association is organizing the California Natural Disaster Recovery and Rebuild Forum on October 5 in Los Angeles. This event will bring together homeowners with various stakeholders, including city and county permitting offices, mortgage lenders and servicers, insurance representatives, and builders. The goal is to allow families to ask specific questions about their situations and gain clarity on their path forward.
Gigliotti asserts that effective advocacy extends beyond legislative efforts to ensuring that policies are not only created but are also understandable and usable by the people they are intended to help. He believes this model of connecting public policy with industry execution and providing a clear point of entry for consumers can be replicated in other states.
