New Consolidated Single Final Delivery Package for SBL
June 3, 2016
Effective for deliveries received on or after July 1, 2016, a Small Balance Loan (SBL) purchase product Final Delivery will consist of a single package. A consolidated single delivery package will reduce processing time and costs. All package issues will be identified pre-funding, and SBL Sellers and Borrowers will only be approached once to clear issues. SBL Sellers can still select their funding date.
- SBL Sellers will select a funding date from ten calendar days after delivery to the Mandatory Funding Date.
- A single Final Delivery Package Table of Contents – SBL will replace the "Core" and "Non-Core" Table of Contents.
We have posted the following resources to the Small Balance Loan Documents Resources page so that you can preview the changes before the July 1, 2016 effective date: