SBA 504 Loan and First Mortgage Loan Programs - Transfer of Central Servicing Agent functions

SBA is pleased to announce that PricewaterhouseCoopers Public Sector LLP (PwC) has been selected to serve as the new Central Servicing Agent (CSA) for the 504 loan program and as the CSA for the First Mortgage Loan Program (FMLP), which was established under section 503 of the American Recovery and Reinvestment Act. The contract became effective Wednesday, February 1, 2017.

This new CSA contract will not require Certified Development Companies (CDCs) and FMLP participants to make any operational changes because PwC has subcontracted with Wells Fargo Bank, N.A., to perform, on PwC’s behalf, the same 504 and FMLP financial servicing functions that Wells Fargo Bank, N.A., performed under the prior CSA contract.

Accordingly, no changes need to be made with respect to how ACH payments are drawn, how wires are remitted, where checks are mailed, or where emails are sent. Although the mailing address is the same as under the prior CSA contract, any correspondence, including the necessary debenture closing documents, should be addressed to:

PricewaterhouseCoopers Public Sector LLP

c/o Wells Fargo Bank, N.A.

Corporate Trust Services

Attn: 504 Central Servicing Agent

9062 Old Annapolis Road

Columbia, MD 21045-1951

In addition, District Counsel may continue to use the same email address to notify the CSA of the list of loans approved for sale: sba504csafunding@wellsfargo.com.

SBA has updated the Servicing Agent Agreement (SBA Form 1506) to incorporate references to the new CSA. The updated form will be available on SBA’s website (www.sba.gov/for-lenders).

CDCs may begin to use the updated Servicing Agent Agreement (SBA Form 1506) (03-17) immediately. All CDCs must use the updated form beginning with the October 2017 debenture sale.

If you have any questions regarding this Notice, please contact Chris Urban at Wells Fargo Corporate Trust Services at christopher.j.urban@wellsfargo.com or (410) 884-2339.