Issuance of SOP 50 57 3.1

In May of 2023, SBA announced the publication of Standard Operating Procedure (SOP) 50 57 3, 7(a) Loan Servicing and Liquidation, which became effective on August 1, 2023. Since then, Agency staff has received and reviewed questions and comments from the public, including participating lenders and representatives of various trade associations regarding the SOP. Because of this feedback, SBA has made technical corrections to clarify the SOP, some of which are identified below, which will result in the issuance of SOP 50 57 3.1 with an effective date of December 1, 2024.