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Here a checklist, there a checklist, everywhere a checklist! Department-specific checklists are essential. They focus on the specific responsibilities of that specific department or team. So an underwriting checklist focuses on eligibility, repayment ability, and collateral. Closing verifies documentation and funding conditions. Servicing monitors insurance, payments, reviews, and modifications. And so on.

SBA is releasing what they’re referring to as a “modernized” Form 1502 and filing process – and yes, it’s a definite improvement over the...

As an SBA Lender Service Provider, we are asked to perform annual loan reviews for many of our clients. With each one we add to our...