Avoid Traps that Cause SBA 7(a) Guaranty Repairs, Denials and False Claims Act Lawsuits in Preparing the SBA 7(a) Purchase Demand Kit and Wrap-Up Report
Submitting a ten-tab purchase demand kit to SBA for payment of a charged-off small business loan has several layers of peril for you and your institution — a guaranty repair, a guaranty denial or a whistleblower False Claims Act lawsuit.
On April 14, 2017 HSBC bank settled with the Department of Justice for $2.1 million for failing to prepare the pdk correctly. The fine excludes clawbacks SBA issued for the improper payments.
Previously, False Claims Act lawsuits for improper SBA guaranty payments have been settled by PNC Bank — $7 million, Saehan Bank — $2 million and Pinnacle Bank in Wyoming — $3 million. Ciena Capital, formerly BLX, settled its False Claims Act allegations in 2010 for $26 million. Guaranty denials are on top of the settlement.
PDK preparers even face the prospect of criminal prosecution hints the DOJ.
So, you need to get this absolutely correct. Perfect everytime.
Fortunately for you, our expert, professional webinar instruction will give your team the tips to use and the traps to avoid when preparing the ten-tab purchase demand kit for SBA’s loan servicing centers in Fresno and Little Rock — and Herndon.
Taught by former SBA Little Rock District Director Lance Sexton, Lance will enable your team to prepare flawless ten-tab kits, using his professional knowledge obtained by preparing and reviewing hundreds of purchase demand kits.
You, and your team will learn how to prepare fully completed pdks for both the SBAExpress loan and regular SBA 7(a) loans.
Special attention will be given for the different written and “unwritten” rules you need to know to process pdks for loans less than $350,000, and over $350,000.
SBA has spent millions of dollars standardizing its operating procedures, but the industry is still left with numerous gray area regulations interpreted wrongly causing delays and guaranty repairs and denials for SBA lenders.
Lance will help you to understand the correct SOP interpretations for correct packages and timely guaranty payments.
- A comprehensive review of SBA’s new standard of lender disclosure requirements
- Special rules for SBAExpress purchase demand kits
- Traps with an Early-Default SBA 7(a) loan more than $350,000
- A thorough review of what a prudent lender does to fully complete every tab
- How to correct and notify SBA about missing documentation
- Syncing the bank’s books with SBA’s loan balance and the 1502 report
- Expert strategy advice of how and when you should recommend the repair to SBA.
- Reimbursement of legal expenses traps
- Special Tips for STAR loans
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Bob Coleman, Publisher, Coleman Report
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Lance Sexton, Coleman Faculty Instructor
Lance Sexton served as Deputy Director of the SBA Little Rock Commercial Loan Servicing Center managing the Servicing of SBA Loans, the liquidation of SBA Express Loans, and the Liquidation of SBA 504 loans in a 24 state area. Lance has 30 years of experience in the origination, servicing, and liquidation of SBA Loans, ten years of experience directly managing portfolios of SBA loans that are both performing and nonperforming, and six years of experience as a small business owner.
Bob Coleman is the Author of “Money Money Everywhere and Not a Drop for Main Street.” He is the Publisher of the Coleman Report, a trade newsletter and website for SBA and small business lenders. He produces online training videos and webinars for small business lenders to teach them to make less risky loans to Main Street.
1) Previous customers need only to send an email to joseph@colemanreport.com with “Register PDK Webinar” in the Subject Line. We will do all the paperwork and charge your credit card on file, or send you a PayPal request.
2) Call Joseph Coleman at Customer Service at 818-790-4591 extension 1
3) Fax the order form to: 818-790-7859
4) Mail the order form to: Coleman Publishing, 28081 Marguerite Pkwy, #4525, Mission Viejo, CA 92690
5) Click “Add to Cart” to pay using PayPal
What are Coleman Webinars?
Coleman is the largest producer of small business banking video webinars and online training for the banking industry. 95% of the top 100 SBA 7(a) lenders are our clients. Our events help make your staff experts in the issues covered, which translates to higher performance, higher yield and greater safety in your lending practices.
Our faculty are professional instructors are the absolute experts in their fields.
Why attend Coleman Training Webinars?
A Coleman Webinar is a very cost effective training solution. No airfare, no hotels. Just invite as many people as you wish into your conference room and turn on the computer. You have several options to view the program: You may watch and listen on screen, or watch on screen and listen in on your phone, or simply listen on your phone. The phone number will be provided with your webinar handouts.
You can choose to have any many connections nationwide as you wish when you purchase unlimited access for only $589.
Can our staff ask questions during the webinar?
Questions are strongly encouraged. There are two ways to ask a question: One is to ask the question via the chat box on the GoToWebinar dashboard. The second is to send an email to joseph@colemanreport.com. Also, feel free to ask pre-webinar questions. Your questions will be answered by our expert faculty. All our webinars are recorded.
Can I get a copy of the webinar?
Buyers of the unlimited site license option will receive a DVD recording of the event to share with anyone you wish. A transcript of the program is also provided to purchasers of the unlimited site license.
How does the webinar work?
We use GoToWebinar for the webinar platform. You will receive a link that will direct you to an Internet site to view the presentation. If you would like to test this process to make sure you will be able to access the link through your system’s firewall, just send an email to joseph@colemanreport.com, and he will schedule a test run.
How do we access GoToWebinar?
There are two ways to access the webinar. The first is to simply click on the link we will provide when you register.
If you have a fireall issue, or you can’t get the GoToWebinar link to work, don’t panic!
The second way to access the webinar is directly from the GoToWebinar website. You will simply need to input the webinar ID and access code. These will also be provided when you register, and again the day before the webinar when we distribute the handouts.
Note we will open the webinar for attendees to join at 12:00pm ET. This will give each attendee two full hours before the webinar begins to troubleshoot any technical issues. Call (818) 775-4591 if you need assistance.
Will we be able to see our Coleman Webinar speakers during the webinar? You will see our speakers live through a video feed. You may customize the size of the speaker and PowerPoint presentations by clicking on the webcam button on the GoToWebinar dashboard. You may position the speakers at the top, bottom, right or left hand sides. You may also choose to eliminate the video stream and just view the powerpoint.
Will I receive handouts for the webinar?
You will receive the pdf handout via email the day before the event. Copies may be distributed to all of your attendees.
What if I miss some or all of my webinar?
If something comes up and you miss any part of the webinar, or there are technical issues, such as a power failure, Internet dropout, fire alarm drills, actual fires or, earthquake (yes, that has happened!) simply email joseph@colemanreport.com and he will send you a link, so you may watch all or part of the webinar at your leisure. There is no charge for this service.
What are your pricing and guaranty policies?
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.
2) For only $100 more ($589), you may invite as many people from your institution from as many locations as you wish. (You also get the reply link and transcript!) We will forward you a link that allows you to sign up as many people as you wish.
3) Substitutions are allowed at no charge.
4) Cancellations receive a 100% credit for any Coleman product.
5) As with all our products, we offer a 100% money back satisfaction guaranty — no questions asked.
Bob Coleman
Editor, Coleman Report
28081 Marguerite Pkwy #4525
Mission Viejo, CA 92690
(818) 790-4591
(c) 2017 All Rights Reserved