NAGGL in the Big Easy: Time well spent October 28-30. As always NAGGL was information-packed but the most common thread was “COMING SOON.” Here’s an SOP update: SOP 50 10 6 is in the review and approval stages with anticipated release in early March 2020. The new 50 57 3 for Servicing & Liquidation is also […]
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FROM RICHARD @ JRB … 504 PROGRAM CHANGES: SPIKING THE BALL? WATCH OUT FOR ‘ON-FIELD REVIEWS’ – AND UPDATE YOUR POLICIES!Nancy Tack2019-11-06T20:46:56+00:00
About now, you’re celebrating changes to the 504 program over the past year. Feels like touchdowns and two-point conversions. For starters, the SOP no longer requires an Independent Loan Review every year. Now, loan reviews are required only every two years (SOP 50 10 5 (K) Chapter 3, Subpart A., II., B. 3., a. i. […]
“The time to repair the roof is when the sun is shining.”
― John F. Kennedy
JFK had a point there. Drip. Drip. Drip. It’s a little late to fix the roof when there’s water on the ceiling. By the same token, it’s time to schedule your annual loan reviews in preparation for yearend planning. It’s important […]
There’s always a lot of fun and camaraderie at NADCO’s Annual meeting. This year was no exception. And this year we introduced JRB team member Senior Associate Lori McCausland to NADCO. She’s a long-time JRB team member who is developing our CDC loan servicing product. Thanks to all who made her feel welcome to the 504 […]
JRB e ALERT! NAGGL’S SMALL BUSINESS LENDING CONFERENCE OCTOBER 28-30 NEW ORLEANS ∙ THE PLACE TO BE ∙ STOP BY OUR BOOTH #78Nancy Tack2019-10-16T14:22:35+00:00
We’re headed for The Big Easy! NAGGL’s Annual Small Business Lending Conference meets in New Orleans, Oct., 28-30. We’re jazzed. NAGGL is the long-time state-of-the art gathering for great networking and information from “SBA World” – industry experts, SBA leadership, and federal legislators.
NAGGL ’19 promises a full schedule of breakout sessions on the latest small business […]
Greetings from Music City! Y’all put your hands together for a great NADCO Annual Meeting. We’re in Nashville and our JRB booth is all set up. So drop on by Booth 207 in the Exhibit Hall. We’d love to see you to renew old acquaintances, make new friends, and swap stories – some of which I […]
It happens every year about now. SBA sends out a notice, and immediately lenders ask us to translate it into ordinary English. At JRB we’re multilingual: We speak ordinary English and Bureaucrat-ese. Here goes:
Try as we might, we can never sit and dedicate eight hours to just one puzzling loan. At 8 a.m. we tell ourselves, “Today I’ll get the ABC Company loan repurchase package fully put together and submitted.” Yet by 8:30 a.m. we’re fielding our second loan modification call, swigging our second cup of coffee and praying […]
FROM LORI @ JRB … PROCEDURES, PROCEDURES: CHECK ’EM ONCE, CHECK ’EM TWICE – AVOID ‘SQUIRRELS’ THAT HOLD YOU UPNancy Tack2019-09-19T17:13:05+00:00
We’ve said it more than twice: It’s important to have effective procedures from the get-go, from loan origination through closing. It’s equally important to have accurate documentation and to perform relevant searches early on. Too often we’ve seen lenders conduct searches and collect documents late in the process, only to run into what we call, “SQUIRRELS” […]
Every now and then Julie calls me. She’s a long-time veteran of the SBA world, so usually we just swap war stories. But the other day she asked me a question. I’ll bet you’ve had to answer this one from time-to-time.
JULIE. Richard, one of our borrowers wants to bring in a new partner who will own […]