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It is unlawful for Lenders to be Operators.
It is the Lender/Operator’s responsibility to request a forbearance on behalf of the borrower.
Lender/Operator’s will typically do a 90-day forbearance period to give everyone a little breathing space.
Due to the financial disruption COVID contributed to, Lender/Operator’s wanted to get borrowers up to date financials on a monthly basis versus a quarterly or semi-annual basis
The last thing lenders wanted to do was an asset foreclosure so they focused on exhausting all of the other remedies first (loan extension, modification, rewriting).