Packaging Expert
Services:
- Initial review of portfolio to identify secondary market sales opportunities.
- Prepare loan bid package on individual loan or pool of loans to secondary markets.
- Process loan sale including documentation.
- Periodic review of portfolio to identify secondary market sale opportunities.
Benefits:
- Increase non-interest income.
- Reduce portfolio risk.
- Create portfolio "capacity" by increasing loan turnover rate.
Process:
- bancserv prepares a bid sheet to be submitted to no less than seven investors.
- bancserv prepares SBA Form 1086 (Secondary Market Agreement) for highest bidding investor and brings to loan closing for the bank signature.
- bancserv facilitates loan transfer and sale with investor and FTA (Colson Services).
- Confirmation of a loan sale is documented and communicated within 10 business days of bank execution of documents.
- FTA-(Colson Services) wires loan premium and loan pay-down to bancserv account at bank.
- bancserv will notify bank of funds with e-mail confirmation and distribute accordingly.