Feb 15, 2024
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You can now send Servicing Fees that are equal to or less than $2,500 to Etran without needing to submit a SBA Form 159.
From the overview page of the loan:
- Click Partner Contacts in the menu on the left
- On the Partner Contacts page scroll down to the referral section. Click the name of the person/business whose fees you need to send. If you are a Lender who charges a servicing fee, you can add yourself as a referral source and then input your fee information. This will allow you to enter and transmit the fees to Etran properly. To learn how to add a referral source, please click here.
- Enter your fees in the Referral Fees for Services Rendered Section. When the time comes to submit, if the total of all your fees are equal to or less than $2,500 and the 159 Agreement Required box is not checked, the system will transmit your fees to Etran without asking for a 159 Agreement.
- Click Save
Information entered in the above Fee fields will flow to their respective fields in Etran. The Type of Agent and Agent's address will populate based on the Type of referral selected, and information on the referrals Virtual Card.