Best Practices: General Title Exceptions – Part 1
As a follow-up to my article Best Practices: The Survey Exception, where I discussed deletion of the standard survey exception from an ALTA loan policy, this article is intended as a brief overview of some of the “general title exceptions,” which typically appear in one form or another on a title commitment for an ALTA loan ... Read More
Best Practices: A Refresher on EPC/OC Transactions
Typically, any small business applicant seeking SBA financing must be an active operating company. One exception to this general rule pertains to Eligible Passive Companies. The Eligible Passive Company (EPC) Rule is set forth in 13 CFR § 120.111, and is a narrowly construed exception to SBA regulations that prohibit financing assets which are held ... Read More
Best Practices: Things to Consider in the New Year
As we begin the new year, here are some items of interest that lenders should keep an eye out for in 2019: First, it is important to make sure that you are using the most recent versions of SBA’s forms and incorporating required language into your loan documents. The SBA released a new SBA 7(a) ... Read More