How to Avoid Costly SBA Guaranty Repairs
Time: 2:00 p.m. Eastern
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Does your staff make any of the 13 most common mistakes lenders commit in documenting a borrower’s equity injection that result in SBA loan guaranty repairs and denials?
Former SBA Little Rock Servicing Center Deputy Director Lance Sexton does — and he can help you avoid repairs and denials that can cost your bank millions of dollars in additional loan losses..
SBA’s Inspector General says lenders must prove the equity injection is not a fraudulent transaction. The SOP has very specific documentation requirements lenders must follow.
False documentation is a serious problem for lenders — just Google “Craigslist bank statement verification,” where anybody can buy a bank statement for $75.
What is a prudent lender to do?
What are the proactive steps SBA’s Inspector General demands of a “prudent” lender?
What is the SBA loan closer’s responsibility? What exactly must the SBA loan closer do to authenticate pdf files in light of the proliferation of photoshopped pdf files today?
What is management’s role in this process? What levels of review should you adopt?
Join Lance in this updated Coleman webinar to learn best practices and SBA-recommended protocols for documenting your borrowers’ equity injections, perfectly, and correctly every time.
- The 5 equity injection fraud red flags
- A thorough understanding of the traps associated with gifts and gift letters
- How to set borrower equity injection requirements for loans less than $350,000
- How to set borrower equity injection requirements for loans over $350,000
- How to document equity injection for SBAExpress loans
- The 4 proper sources of equity injections
- Two improper sources of equity injections
- The absolute SBA required documentation of equity injection to protect the guaranty
- What SBA requires you to do to verify a cash injection
- How to document intangible and non-cash assets
- Case studies examples to reinforce proper SBA equity injection requirements
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The Fine Print
1) The single user registration fee of $389 is based on location not attendance. You may have as many people in one location attend. You may distribute the materials to anybody in your company.
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