stickyimage

SBA Hot Topic Tuesday — New SBA 7(a) Matrix Effective 12/29/14

January 6, 2015

By Bob Coleman
Editor, SBA Hot Topic Tuesday

SBA-Lender-Matrix-061014Attached is the updated Version 10 of the 7a Matrix, effective 12/29/14. Please note that the changes on the attached pertain to Policy Notice 5000-1329, which states that effective 02/01/15 all lenders are required to make the following E-Train database changes (please note certain actions would not apply to loans sold on the secondary market, which are identified with*):

Beginning February 1, 2015 all 7(a) lenders will be required to notify SBA via E-Tran for the following unilateral actions:

– Cancel the SBA Guaranty*

– Extend the Maturity Date (prior to the stated maturity expiring)*

– Change the loan from revolving to non-revolving

– Change the Borrower’s name or address

– Assumption of the loan without release of an Obligor (adding a borrower)

– Adding a Guarantor to the loan

– Classify the loan in “liquidation” status

* For loans sold in the secondary market, prior written consent from the investor and/or Fiscal Transfer Agent is required for any action that alters the original loan repayment termsbefore the lender approves the action and notifies SBA of the action using E-Tran.

3 years ago by in . You can follow any responses to this entry through the | RSS feed. You can leave a response, or trackback from your own site.