Required SBA approval of servicing actions.

13 C.F.R. § 120.1716
in effectEffective: 2024-07-01
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Seller shall not, without prior written consent of SBA, take the following actions with respect to Seller's Pool Loan: (a) Make or consent to any substantial alteration in the terms (“substantial” includes, but is not limited to, any changes to the principal amount or interest rate); (b) Accelerate the maturity; (c) Sue; or (d) Waive or release any claim. Guidance on other servicing actions, some of which may need prior SBA approval, is provided in the Guide.

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