Loan Classifications and Overpayments on Secondary Market Loans
Report Number: 8-09
Date Issued: March 26, 2008
To: Grady Hedgespeth, Director Office of Financial Assistance
Jennifer Main, Chief Financial Officer
/s/ Original Signed
From: Debra S. Ritt, Assistant Inspector General for Auditing
Subject: Loan Classifications and Overpayments on Secondary Market Loans, Report No 8-09
This report present the results of our audit of loan classifications and overpayments on secondary market loans. SBA's secondary market program was created to encourage small business lending by allowing lenders to sell teh guaranteed portion of their 7(a) loans to investors.
To read the full report, please see the attached document.