SBA Issues New SBA 7(a) Servicing and Liquidation SOP Threatens Lender Enforcement Actions Effective December 1
SOP Threaten Your Loan Portfolio—Effective Dec. 1
Time: 2:00 p.m. Eastern
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To avoid new threatened “enforcement actions” by the SBA, your servicing and liquidation procedures must strictly follow the agency’s major rewrite of SBA’s SOPs.
This directive from the SBA’s Office of Credit Risk Management introduces numerous new servicing and liquidation regulations affecting all SBA 7(a) lenders—effective immediately.
This webinar will help your servicing staff understand what SBA now means by “prudent liquidation,” rules governing liquidation of current caseloads and restrictions on liquidation of collateral, plus new rules regarding wrap-up reports and SBA 7(a) revolving lines of credit, and much more.
Get an SBA insider’s advice on these new regulations
- What SBA is telling lenders when they use the term “prudent liquidation.”
- Threatened “Enforcement Actions” to be issued by SBA to SBA 7(a) lenders for not completing their current liquidation caseload by December 1, 2017.
- Threatened “Enforcement Actions” to be issued by SBA to SBA 7(a) lenders who do not complete liquidation of collateral within two years of the guaranty purchase.
- New rules in preparing SBA 7(a) wrap-up reports.
- How to calculate the SBA 7(a) lender annual servicing fee when the loan during the liquidation process.
- New rules and clarifications for SBA 7(a) revolving lines of credit.
- Special liquidation rules for SBA 7(a) small loans less than $350,000.
- Mandatory use of e-Tran for certain SBA 7(a) servicing and liquidation actions.
- New credit bureau reporting rules for SBA 7(a) loans.
- New SBA 7(a) Liquidation status reporting requirements.
- New rules for returning a SBA 7(a) loan from liquidation to regular servicing status.
- The new rules about receiverships and liquidations.
- Specific guidance when you need to submit liquidation expenses to SBA.
- What to do with the 1099-C.
Read the Notice
Download SBA SOP 5057 2
Download Changes to SBA SOP 5057 2
Join former SBA Little Rock Deputy District Director and Coleman expert industry webinar instructor, Lance Sexton, as he takes you behind the “words on the page”—telling you exactly the new rules you must know.
Lance is a master of turning complex SBA SOP regulations into easy-to-understand steps you and your staff must follow.
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