August 18, 2015
By Bob Coleman
Editor, SBA Hot Topic Tuesday
What is SBA One? It is a loan processing platform for SBA 7(a) and SBAExpress loans. Eventually, the platform will add loan servicing and liquidation platforms. The goal is for the platform to handle all aspects of 7(a) lending from cradle to grave.
SBA One will be expanded to other areas of the country soon. Lenders who attend the Mid-America conference in Dallas at the end of the month will have an opportunity to sign up for SBA One at the conference.
Why SBA One? The initial benefit is SBA One loan applications will receive priority review at Citrus Heights.
I’ll be covering this topic in-depth over the next few months as the platform is rolled out.
Other America East Hot Topics
- New franchise financing rules should be published by October.
- SBA will propose “significantly simplified”affiliation rules next year.
- The SOPs continue to be revised and simplified.
- SBA 7(a) and SBA 504 will have separate SOPs sometime next year.
- Guaranty fee waivers for veterans for SBAExpress loans will be permanent.
- SBA has launched a major initiative to get charged-off loans off the books.
- SBA is inducing lenders to issue charge-off wrap-up reports, 1) Lenders will only be responsible for the servicing fee 120 days from date of default, 2) OCRM has added the review of wrap-up reports as a key factor in the overall lender review rating.