Coleman Report

November 22, 2017 By Linda McMahon SBA Administrator Main Street Wednesday — “Shop Small” in YOUR community this Small Business Saturday Your friends and relatives are special. This holiday season, the gifts you give them should be special, too! Big box stores are making a play for Black Friday and online retailers are selling Cyber…

November 21, 2017 By Bob Coleman Editor, SBA Hot Topic Tuesday SBA Hot Topic Tuesday — Common Errors SBA Lenders Committed Last Fiscal Year Following is a list of lender errors uncovered in SBA’s PARRiS Reviews last fiscal year. Loan Underwriting Discrepancy between Loan Authorization and Credit Memo Failure to Include Industry Analysis Loan Closing…

November 17, 2017 By Bob Coleman Editor, Fraud Friday Fraud Friday — Former Mayor, Bank Sr. VP Indicted on 33 Counts of Loan Fraud He took $6 million over the past 15 years says the District Attorney. Ernie Currier, 64, simply stole his customers info and made bogus loans pocketing the proceeds says the indictment.…

November 16, 2017 By Bob Coleman Editor, Coleman Movers and Shakers Coleman Movers & Shakers — Bryan Hooper Named Deputy Administrator for USDA Rural Business-Cooperative Service Assistant to the Secretary for Rural Development Anne Hazlett announces the following changes in Senior Executive Service leadership roles at USDA Rural Development:Bryan Hooper is now the Deputy Administrator…

November 15, 2017 By Bob Coleman Editor, Coleman Report C-Suite Wednesday — SBA 7(a) 25-Year Secondary Market Quotes up to 118.000 Maturity Spread Price Quarterly % Change 8 Years P + 2.75 108.000 -0.690% 10 Years P + 2.75 111.500 -0.668% 15 Years P + 2.75 111.750 -0.622% 20 Years P + 2.75 114.000 -0.437%…

November 14, 2017 By Bob Coleman Editor, SBA Hot Topic Tuesday SBA Hot Topic Tuesday — A Recap of all New SBA Notices, Forms and SOP With the flurry of notice and new forms released by SBA over the past several weeks, I thought it would be prudent to summarize everything to make sure you…

November 10, 2017 By Bob Coleman Editor, Fraud Friday Fraud Friday — Ex-Oklahoma Punter Brothers Plead Guilty to Bank Fraud From tulsaworld.com Two brothers, both punters at the University of Oklahoma who went on to find careers in finance, have now pleaded guilty to bank-related fraud and embezzlement charges. Blake Brian Ferguson, 36, entered guilty…

November 9, 2017 By Bob Coleman Editor, Coleman Movers and Shakers Coleman Movers & Shakers — Pat MacKrell Elected Chair of NADCO “NADCO is lucky to have Pat MacKrell leading its board of directors. Having known Pat for a long time, I know how qualified he is to steer the 504 program and the CDC…

November 7, 2017 By Bob Coleman Editor, SBA Hot Topic Tuesday SBA Hot Topic — Common SBA Lender Errors From SBA’s review of 354 lenders for FY 2017 — percentage of lenders failing to follow SBA’s SOP.. Eligibility EPC/OC Conditions Not Met — 12% Credit Elsewhere Test Not Documented — 10% Prior Loss to the…

November 3, 2017 By Bob Coleman Editor, Fraud Friday Fraud Friday — Newtek Forecasts Zero Earnings from banc-serv Says Newtek President & CEO Barry Sloane in yesterday’s 3Q earnings call. Barry again confirmed banc-serv was the target of the FBI raid that seized company records. New information to the story is Newtek’s earnings forecast has…