The Servicing Agreement section only appears for 504 loans. Use it to enter information regarding the servicing agreement, and to generate said agreement.

• Click Closing Requirements.
• Click on Servicing Agreement from the submenu that appears.

The Servicing Agreement page contains several sections:

• The Closing Attorney Fee section where you can note the attorney fee amount and if it is included in closing costs.
• The Recipient Bank Account section allows you to enter information regarding the recipient account.
• The Correspondent Bank Account section allows you to enter banking information for the correspondent.
• Information entered in both bank account sections are specific to SBA form 1506 – Servicing Agent Agreement. Data from here will print to the form.
• The Third Party lender Participation Fee section is non editable and is based on the third party lender.
• You can enter the amount received, enter a comment, and indicate if the fee is Attached, Not Applicable, submitted under a separate cover, or is to be withheld.
• Click Save when you finish entering your data.
• You can use the generate servicing agent agreement button to generate the servicing agent agreement. Scroll to the bottom of the page. Click the Generate Servicing Agent Agreement button and the document will generate.