On October 23, SBA posted to its website revised SOP 50 57 3.1, 7(a) Loan Servicing and Liquidation, with the requirements in the new SOP scheduled to take effect on December 1. Issuance of the SOP was announced by SBA Information Notice 5000-856113, Issuance of SOP 50 57 3.1, which bears an effective date of September 17, 2024, but was posted to the SBA website on October 18, 2024. The notice describes the most significant changes in the SOP revision.
On October 30, NAGGL will present an extended 2-hour WEBExpress to walk through the changes in the newest version of SOP 50 57. And hear more about the SOP revision directly from SBA during the NAGGL Annual Conference, November 4-6, 2024. While in-person registration is sold out, registration for virtual participation still is available.
