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January 21, 2015
HMDA Soup to Nuts
David Dickinson

January 22, 2015
Navigating the Treacherous Waters of IRA Rollovers, Transfers and Beneficiary Payouts
Patrice Konarik

January 28, 2015
Mortgage Life Cycle
Part I
David Dickinson and Jerod Moyer

February 2, 2015
Answer HSA Questions with Confidence
Whitney Johnson

February 3, 2015
BSA/AML Compliance: Recent Developments and Common Errors
Ken Golliher

February 4, 2015
Mortgage Life Cycle
Part II
David Dickinson and Jerod Moyer

February 5, 2015
Annual Lending Compliance Recap
John Burnett and Andy Zavoina



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#1125526 - 02/06/09 06:06 PM cross pledge/cross collateralization questions
loan doc girl Offline
Junior Member

Registered: 06/29/04
Posts: 42
Loc: North Texas
This has become a really hot topic around here of late and it is giving us fits. Can anyone give me some answers or opinions?

First, are the 2 terms interchangeable? Some people say yes and others have said no.

Say you have 2 loans that are written up as having completely different collateral - how do you document a cross pledge of collateral? Do you do a security agreement/pledge for each loan? Or do you do the security documents only in the loan that they are primarily pledged to and put a c/p clause in the docs? (for instance - loan A has stock and loan B has accounts & equipment)

What if you have 2 loans that have the exact same collateral - do you put a c/p clause in those docs, or does it go without saying that they are c/p because you have security docs for each loan?

Same for real estate...you do a FLDT and SLDT, so is it redundant to say they are cross pledged? Seems to me that it is, but I don't know.

I know this is a lot of questions. Any input would be appreciated!
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Lending Compliance
#1125711 - 02/08/09 06:03 PM Re: cross pledge/cross collateralization questions [Re: loan doc girl]
rlcarey Offline
10K Club

Registered: 07/16/01
Posts: 51906
Loc: Galveston, TX
You are asking questions that will be based on State law as to how to perfect interests in real property and those questions are best asked of your attorney.
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The opinions expressed are my own, take them or leave them.

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