Report 11-16 - Banco Popular Did Not Adequately Assess Borrower Repayment Ability When Originating Huntington Learning Center Franchise Loans
… improperly originated Small Business Administration (SBA) guaranteed loans made to HLCs. The complaint, which … gross revenue projections submitted by loan brokers in SBA loan applications. Accordingly, our audit objective was … loans. During the course of the audit, we also noted that SBA's Loan Accounting System did not accurately reflect …