CFR > Title 13 - Business Credit and Assistance > CHAPTER I—SMALL BUSINESS ADMINISTRATION > PART 120—BUSINESS LOANS > SUBPART J—Establishment of SBA Secondary Market Guarantee Program for First Lien Position 504 Loan Pools (§120.1700 to §120.1726) > 120.1716—Required SBA approval of servicing actions.

120.1716—Required SBA approval of servicing actions.

Seller shall not, without prior written consent of SBA, take the following actions with respect to Seller's Pool Loan:
(a) Make or consent to any substantial alteration in the terms (“substantial” includes, but is not limited to, any changes to the principal amount or interest rate);
(b) Accelerate the maturity;
(c) Sue; or
(d) Waive or release any claim. Guidance on other servicing actions, some of which may need prior SBA approval, is provided in the Guide.