Welcome to the Coastal Securities Lender Assistance service. This service allows
our customers to obtain accurate, consistent answers to questions relating to
guaranteed loans sold into the secondary market.
Coastal Securities Lender Assistance Contact Information:
John Cioccia, Senior Vice President (713) 435-4360
Linda Rich, Head Cashier (713) 435-4392
Sofia Gonzalez, Customer Service Specialist (713) 435-4393
Greg Putman, Senior Vice President - Head Financial Strategist (713) 435-4385
firstname.lastname@example.org - Call for accounting insight
You may also click here to send an email to our Lender Assistance team:
Services Provided to Government Guaranteed Program Lenders
Coastal Securities is a major participant in the
secondary market of government guaranteed loans (SBA 7(a) and USDA loans). As
such we have a vested interest in making the transactional experience as trouble
free as possible for both lenders and investors.
Each time Coastal Securities
and a customer interact, we learn something about each other. Our goal is to
continuously utilize knowledge from the customer experience to improve market
efficiency and effectiveness. Coastal’s team will provide priceless insight into
customer inquiries, resulting in increased productivity for our lenders.
Investors relate their ongoing interest in the government guaranteed loan
markets directly to their experience. If the after sale experience is good,
their experience translates in to a healthy, well bid market. If their
experience is bad, they may back away or look for more yield to compensate for
the issues they may have to deal with.
Often, these issues are caused in the
mechanics of creating the loan. Because of the lack of standardization in USDA
loans, lenders often inadvertently create problems for themselves in the
prepayment language or by not establishing an accurate amortization schedule and
reporting function for the investor.
Coastal Securities enjoys a wealth of
talent in trading and operations. Our Lender Assistance team, cashiers and
Operations Manager are friendly, helpful and eager to assist new lenders or
infrequent lenders get their loans off to a good start. With an average
experience of over twenty years each, our personnel will be the best consulting
team you could access for assistance and the best part is that it is free! When
you sell your loan to Coastal, we want you to take advantage of our
experience and to work with you on the loan throughout the process.
are some of the ways in which Coastal can assist lenders.
First Time or Infrequent Sellers in the Secondary Market:
- Educate lenders on the mechanics of the loan sale process
- Discuss accounting issues involved in either the sale or purchase of guaranteed loans and give lenders/investors insight as to how other clients account for these loans
- Define the roles of all participants (lender, investor, FTA and governmental agency)
- Act as a liaison between lender and agency to expedite the delivery of loan documentation to Coastal Securities
- Provide and explain “good delivery requirements”
- Assist lenders with the completion of the loan documentation
- Define the settlement process and timeline from the delivery of documents to the scheduled funding date (“primary settlement date”)
- Provide a sample “standard remittance advice” to send monthly payments to investors
- Provide assistance with amortization schedules
Providing Guidance to Resolve Borrower Payment Issues:
Questions relating to
- Deferment of borrower payments
- Borrower modifications to terms and conditions of the promissory note
- Borrower defaults and the formal demand process
- Borrower prepayments and any calculations of penalties that will be assessed and passed through to the respective holders (investors)
- Proper procedures to document any approved changes to borrowers terms (sample forms will be
presented for lender review)
Easy Access to Forms:
Visit our eForms Library
located on our website for direct access to commonly used forms. Contact your
Coastal representative or the personnel listed above for more information about
our Lender Assistance service.
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