We are a lender in Massachusetts and disclose on our HELOC agreement the discharge fee that will be charged by the registry of deeds to discharge the loan when it is paid in full. Massachusetts recently went up in their fee by $30. The fee disclosed at the time of loan closing was accurate at that time. Can we charge the increased fee?
We have a borrower who will be out of state on the closing day of their purchase money mortgage. Are there any issues with having the borrowers
pre-sign the closing documents? (For example, the closing is on 10/01 and all the docs are dated 10/01, but the docs are signed and notarized 09/27.)
We are trying to make a loan to a new entity and provide a short term line of credit to help fund the costs of there first contract as a company. We
are wanting to take an assignment of the contract and have their customer issue joint checks for their payouts. I have been unable to find any
document that works on our compliance software. Any ideas of how I would perfect this transaction?
If we have a customer that has their business registered with the Delaware SOS however they live in ND, do we need to produce two separate security agreements, one for each state? I noticed this changes in the governing law section of LaserPro documents.
For loans secured by savings or CD's, can just one of the joint owners sign the security agreement (if the account is owned by John "or" Jane), or must all joint owners sign?
If we hold a lien on a titled vehicle and that loan is refinanced into a new loan, is it necessary to release, and refile a new lien to match the date of the new loan, or is our lien good for as long as we have an interest in the collateral (until released)
When doing a farm loan and we take Government Payments & Crop Insurance do we file a UCC or UCC1F to perfect our lien or is a Agricultural Security Agreement showing the Government Payments & Crop Insurance as collateral enough to perfect the lien?
If I have an automobile loan that is in one party name but the title is joint with husband and wife and both signed a security agreement is a HYPOTHECATION AGREEMENT necessary to perfect our lien?
Can a port a potty company file a lien on a property?
When it is necessary or desirable to perfect security interests in aircraft, engines, propellers or spare parts in the United States a lender must consider a multitude of issues. For many lenders and their counsel the process of recording instruments with the Federal Aviation Administration (the "FAA") and registering aircraft in the United States needlessly remains a mystery. The following is an explanation of the most critical issues a lender must address to ensure that documents submitted to the FAA will be accepted for recording.