Note : Set resolver to your view like as below
$view = $this->getServiceLocator()->get('Zend\View\Renderer\RendererInterface');
$resolver = new \Zend\View\Resolver\TemplatePathStack();
$resolver->setPaths(array(
'mailTemplate' => __DIR__ . 'TEMPLATE PATH'
));
$view->setResolver($resolver);
$viewModel = new \Zend\View\Model\ViewModel();
$template = 'forgot_password.phtml';
$viewModel->setTemplate($template)
->setVariables(array('data' => $data));
$content = $view->render($viewModel);
This may help you.