Besides new and amended SOPs, policy notices clarifying guidance regarding SBA 7(a) and 504 loans have been issued.
This program will provide an overview of the recent updates, address new processes, explain the risks, and delve into how lenders may wish to revise their internal policies and procedures to maintain compliance.
AFTER THIS WEBINAR YOU’LL BE ABLE TO:
Determine an applicant’s eligibility for a 7(a) or 504 loan
Evaluate partial change of ownership structures
Discuss modifications to SBA’s Closing and Servicing Standard Operating Procedures (SOPs)
Explain updates to 7(a) Lender Matrix
Describe the current SBA guaranty purchase submission process
WEBINAR DETAILS
The SBA issued new standard operating procedures in the fall of 2023 that significantly revised the way lenders underwrite, close, and service SBA 7(a) and 504 loans. Since then, amended versions of the SOPs have been issued as well as policy notices revising and clarifying certain SBA guidance. Some revisions have increased opportunities and streamlined processes for SBA lenders, while others may have unintentionally created more ambiguity and risk.
This session will focus on the changes to affiliation, change of ownership, and when to obtain certain due diligence, such as IRS tax transcripts, appraisals, and flood insurance. It will also look at when you must notify the SBA of certain servicing and liquidation actions. It will touch upon the updated Universal Purchase Package tabs which are part of the SBA guaranty purchase process. While this program will provide an overview of the recent changes, it will also give some examples of where SBA lenders have had issues with the new rules and where the SBA lending community is hoping to obtain more guidance.
WHO SHOULD ATTEND?
This informative session is designed for commercial loan officers, loan closers, managers, administrators, and personnel responsible for underwriting, closing, post-closing, servicing, and liquidating SBA loans.
TAKE-AWAY TOOLKIT
Links to all the latest SOPs, policy notices, and UPP tabs
Copy of the updated 7(a) Lender Matrix
Employee training log
Interactive quiz
PDF of slides and speaker’s contact info for follow-up questions
Attendance certificate provided to self-report CE credits