Intro to SBA Lending
Intro to SBA Lending Part III
March 21, 2019 @ 11 a.m. Eastern
To listen by phone, dial 1-877-369-5243 then enter access code:
0139353## For technical assistance, contact the AT&T
Helpdesk at 888-796-6118 Special Thank You to Richmond DO!
Part III Session Includes:
?Servicing Actions ?Liquidation Status Transfer ?Site Visit & Reporting Requirements ?Guaranty Purchase Requests
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SOP 50 57 Version 2
? On Nov. 24, 2015 SBA announced the issuance of SOP 50 57 2, which became effective Dec. 1, 2015
? Download it at: _50_57_2.pdf (Clean Version)
? _50_57_2_Tracked_Change_Version.pdf (Tracked Changes Version)
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SOP 50 57 2
? Combined servicing and liquidation SOP covering 7(a) loans.
? In the absence of clear policies and parameters related to Prudent loan servicing and liquidation, lenders had no time constraints and consequences.
? New policies surrounding Prudent servicing and liquidation of SBA's guaranty purchased loans will provide an incentive to encourage participating lenders to resolve guaranty purchased 7(a) loans in a timely and commercially reasonable manner, and add consequences for when lender fails to comply with these policies.
? SOP provides clarification on topics which frequently create confusion between lender and SBA.
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