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Starfield & Smith Express

70THE PROBLEM:
SBA lenders must balance compliance with efficiency.  Many lenders today have reduced transaction costs and squeezed the closing line in order to be increasingly competitive and win deals.  Unfortunately, many of these lenders end up jeopardizing their most important piece of collateral: the SBA guaranty.  In fact, some lenders have come to believe that, in today’s environment, they must accept lower compliance as a “cost of doing business” and simply factor the losses associated with repairs and denials of their SBA guaranties and higher risk ratings into their overall economic model.  In addition, too many lenders do not assess their loan files for compliance until the loan is in default, when the potential to mitigate any deficiencies is low and the likelihood of losses is high.

THE SOLUTION:
Lenders who use Starfield & Smith Express do not have to choose between having quality and compliance or increased speed and lower prices. Starfield & Smith Express provides a focused, timely compliance review for experienced SBA lenders at a predetermined price that is significantly lower than our full-service SBA closing and compliance service. Our experienced SBA audit team will perform a review of your designated loan files either before or after closing to ensure that no material deficiencies exist that would adversely impact the integrity of the SBA guaranty. Our reporting is in the form of a legal opinion, backed by the experience and reputation of Starfield & Smith, which notes any deficiencies found during the audit. Because Starfield & Smith Express reviews are performed either before closing or immediately after closing, they maximize the lender’s opportunity to correct any errors that would likely result in a repair or denial of the SBA loan guaranty at a time when the borrower is more likely to cooperate.

Starfield & Smith Express pulls the compliance function forward in the loan life cycle and implements it by drawing upon the unparalleled years of experience in SBA closing compliance and guaranty purchase matters that are possessed by the professionals at Starfield & Smith. It is specifically designed to mitigate lenders’ risk and to reduce the number of repairs and denials in lenders’ SBA portfolios at a price that provides a substantial return on investment, and in a timeframe that does not slow the closing process.

The economic consequences of even one guaranty denial can be devastating to a lender’s SBA lending activities. Don’t take risks with your guaranty that are both unnecessary and economically short sighted. Put your compliance in the hands of the team with the most experience in handling the most complex SBA compliance issues nationwide. Call the skilled professionals at Starfield & Smith today and learn if Starfield & Smith Express is right for you.

The SBA’s guaranty is your most important piece of collateral. Do not risk losing it. Contact us today to learn how we can help.