SBA New 10 Day Notice Processing Application Guide
This document provides details on the SBA's new 10 Day Notice Processing Application for lenders. It includes instructions on accessing, submitting, and managing 10 Day Notices and Prepayment Certifications. Additional information on new features and support contacts is also provided.
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How do I fill this out?
To fill out this form, start by logging into the SBA's Capital Access Financial System (CAFS). Then, navigate to the '10 Day Notice Processing Application' under the 'FTA Portal'. Follow the on-screen instructions to submit the necessary details.
How to fill out the SBA New 10 Day Notice Processing Application Guide?
1
Log into CAFS using your User ID and Password.
2
Click on the 'Loans' Dropdown Menu and select 'FTA Portal'.
3
Expand the 'Payoff Processing' Dropdown Menu.
4
Click on the '10 Day Notice Processing Application' Tab.
5
Follow the on-screen instructions to complete the submission.
Who needs the SBA New 10 Day Notice Processing Application Guide?
1
Lenders who need to submit prepayment notices.
2
Financial institutions processing borrower prepayments.
3
Loan officers managing SBA loan requirements.
4
Compliance officers ensuring regulatory requirements are met.
5
Auditors reviewing financial transactions and notices.
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Open the document in the PDF editor.
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What are the instructions for submitting this form?
Submit your completed form through the SBA's Capital Access Financial System (CAFS). Log in using your User ID and Password, navigate to the FTA Portal, select the 10 Day Notice Processing Application, and follow the submission instructions. For assistance, contact the FTA Client Services team at fta@sba.gov.
What are the important dates for this form in 2024 and 2025?
Ensure all prepayment notices are submitted at least ten (10) business days prior to the prepayment date. Keep an eye on official SBA dates and deadlines for 2024 and 2025 for timely compliance.
What is the purpose of this form?
The purpose of this form is to facilitate the submission and management of 10 Day Notices and Prepayment Certifications by lenders. Ensuring proper notification to the FTA, it helps maintain compliance with SBA regulations. The application streamlines the process, making it more efficient for financial institutions.
Tell me about this form and its components and fields line-by-line.
- 1. Lender's Information: Includes details about the lending institution and contact information.
- 2. Borrower's Information: Contains the borrower's details including name and loan information.
- 3. Prepayment Details: Specifies the amount and reason for prepayment whether from refinancing or other sources.
- 4. Certification: Certification from the lender confirming the prepayment details and compliance.
What happens if I fail to submit this form?
Failure to submit this form can result in non-compliance with SBA requirements, posing potential legal and financial risks.
- Non-Compliance: Failure to notify the FTA within the required timeframe.
- Penalties: Possible legal and financial penalties for non-compliance.
How do I know when to use this form?
- 1. Borrower Prepayment: To notify the FTA of a borrower's intention to prepay.
- 2. Lender Repurchase: To document a lender's repurchase of the loan.
- 3. Emergency Repurchase: To certify an emergency repurchase situation.
Frequently Asked Question
What is the purpose of the SBA 10 Day Notice Processing Application?
The application allows lenders to submit, view, and manage 10 Day Notices and Prepayment Certifications.
How do I access the 10 Day Notice Processing Application?
Log into the SBA's CAFS, navigate to the FTA Portal, and select the application under the Payoff Processing Dropdown Menu.
Can I edit my 10 Day Notice submission?
Yes, you can edit your submission using the 10 Day Notice Processing Application on CAFS.
Is there a way to view past 10 Day Notices?
Yes, the new application provides a dashboard to view records of all previous notices, including active, expired, and canceled statuses.
How can I cancel a 10 Day Notice request?
You can cancel requests directly within the 10 Day Notice Processing Application dashboard.
Where can I find detailed instructions for using the application?
Detailed instructions are available in the 10 Day Notice Processing Application User Guide on the FTA Wiki.
Who do I contact for support with the application?
For support, contact the FTA Client Services team via fta@sba.gov.
What happens if I fail to submit the notice in time?
Failure to submit the notice in time may result in non-compliance with SBA regulations.
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