Welcome to Secondary Market Access (SMA)

SMA is the leading expert in the SBA 504 First Mortgage Lien Pool (FMLP) program

The FMLP Program allows sellers to sell up to 85% of eligible 504 first mortgage loans to SBA approved Pool Originators.  We also aid lenders in becoming their own Pool Originator, whereby they can securitize 80% of their own 504 first mortgage originations.

We provide expertise in all areas of the FMLP program, including:

  • Sale to a Pool Originator
  • Becoming a Pool Originator
  • Loan and Pool pricing
  • Loan and Pool structuring
  • FMLP settlement
  • Gain on Sale, net servicing valuation and accounting entries for sold loan portions

We facilitate FMLP sales on behalf of banks, credit unions, real estate funds and private investors. SMA is the market leader in FMLP consulting services and we provide support to more than half of all active Pool Originators.

Latest News & Updates

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IDS 504 Update

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Stepping in to Fill the Void

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OPTIMISM FOR EXTENSION

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The Role Of Secondary Market Access

About Us

Secondary Market Access (SMA) is a joint venture between Government Loan Solutions and Wholesale 504 Lending Consultants, LLC.

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Program Details

As part of the American Recovery and Reinvestment Act (AKA the Stimulus Bill), Congress authorized the SBA to create a temporary program that provides a guarantee on an eligible pool of SBA 504 first liens.

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CPR Reports

Please see our archive of CPR Report articles for a detailed information on the First Mortgage Lien Pool program.

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Featured Article

IDS 504 Update

504 Temporary Refinance & FMLP Recently a special edition of “CPR Report” discussed the impending “sunset” of both the 504 Temporary Refinance Program and the FMLP.  (The full text of special

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