Authors: Kevin D. Karty PhD MIT in Consultation with Aspen Grove Solutions: David Hinkelman – CEO Lift Strategic Partners, Aspen Grove Solutions Partner; Sean Ryan – CEO Aspen Grove Solutions

In this white paper, Aspen discusses the issues facing servicers following the passage of the Coronavirus Aid, Relief, and Economic Security (CARES) Act, which makes significant changes to current forbearance processes for government-backed loans. Here is an excerpt:

“Creating a unified process with proper automation and automated documentation is critical to scaling the operational management of the CARES Act forbearance process, meeting regulatory
requirements without challenges, and preparing for the upcoming modification wave at the end of the forbearance period.”