LENDER TRAINING: CPC and Charge-Off

Event description

Lenders must take prudent action, on a case-by-case basis, to ensure that all collateral and acquired collateral with Recoverable Value is adequately insured in order to protect the ability to recover on an SBA loan. In order for SBA to process a request for reimbursement of expenses the CPC Tabs must be completed. The CPC Tabs facilitate an efficient process to review and process requests for reimbursements. Charge-off is an SBA administrative action whereby a loan is reclassified from “liquidation” to “charge-off” status, and the outstanding balance of the loan is removed from the Agency’s accounting records. This Tab system was designed to help lenders assemble your final wrap-up report. In order for SBA to process and expedite your request for Charge Off, the Charge-Off Tabs must be completed.  Join this webinar with your SBA toolbox in hand and be prepared to learn from the experts the ABC’s of the CPC and Charge off process. Join SBAs National Guaranty Purchase Center's specialists for guidance on key items and steps lenders need to follow when submitting expense requests regarding the care and preservation of collateral.