Life Insurance: The Fine Print

May 29, 2014 | By: bancserv

When life insurance is required, are you obtaining a full copy of the life insurance policy? Typically, lenders will document their SBA loan file with the declaration or summary page from the principal’s life insurance policy to determine adequate coverage. At a glance, it may appear that the [...]

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New 7a Policy Changes Give Lenders More Control Over Their Transactions

May 20, 2014 | By: bancserv

How do you get more lenders and borrowers to consider the SBA 7a lending products? The answer is simple…make it easier. That’s exactly what the SBA has done. The new SOP, which came into effect on January 1, 2014, reflects a variety of changes to the program which were designed to make the program [...]

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The Guideline of Prudence in Liquidations

May 15, 2014 | By: bancserv

The SOP 50 57 not only assists lenders through the servicing and liquidation process, it also provides terms and conditions required for recovery of the SBA guaranty. Some of the conditions are concrete, for example, the requirements for a site visit, appraisal standards and payment application. [...]

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