Expert insights help lenders manage regulatory, operational challenges brought about by the pandemic
Wolters Kluwer Compliance Solutions has initiated a series of informative podcasts to help lenders adapt under the COVID-19 pandemic environment and address its broad-reaching impacts for their lending practices. With topics ranging from effectively managing regulatory change to clarifying loan forgiveness requirements under the CARES Act Paycheck Protection Program (PPP), the episodes feature Wolters Kluwer regulatory consultants and other industry experts sharing insights to assist lenders in serving their banking customers.
The following podcasts are available on-demand:
The SBA has begun processing Paycheck Protection Program loan forgiveness submissions. Wolters Kluwer Banking Segment Leader Samir Agarwal interviews Neal Doherty, Managing Consultant with Wolters Kluwer’s U.S. Advisory Services team, on the mechanics of forgiveness, including preparing borrowers and managing expectations post forgiveness.
At the end of allowable forbearance periods required under the CARES Act, there will be a wave of borrowers requiring post forbearance workouts. Servicers are concerned about having the capacity to handle the impending wave of loss mitigation workouts. Wolters Kluwer’s Samir Agarwal interviews Chris Zimmerman, a Wolters Kluwer product manager for servicing technology solutions, on strategies for operationalizing servicing in a remote environment. They also offer strategies and policies to assist lenders facing multiple pandemic-driven challenges, including an influx of loss mitigation workouts.
The COVID-19 pandemic has created an increasing number of vulnerable populations. With regulatory relief programs, dispersed workforces, and distance banking, keeping a focus on fairness and fair lending has been increasingly challenging. Britt Faircloth, Consulting Manager with Wolters Kluwer’s U.S. Advisory Services, confronts the reality of increased vulnerable populations created during the pandemic, providing strategies for maintaining fairness given new regulatory programs, distance banking and dispersed workforces.