Audit Report 14-09: Purchase Reviews Allowed $3.1 Million in Improper Payments on 7(a) Recovery Act Loans
… Act loans and presents the results of an audit of the SBA purchase reviews on nine additional 7(a) Recovery Act … found that three 7(a) Recovery Act loans purchased by the SBA were not originated and closed in accordance with SBA rules and regulations. The deficiencies included loans …