06/16/2019
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.
05/26/2019
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?
04/20/2015
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)
02/23/2015
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?
01/12/2015
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?
11/03/2014
Can a port a potty company file a lien on a property?
09/23/2013
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.
07/15/2013
I have a question. The bank has taken additional collateral on a Consumer residential loan. The owner of the additional collateral (who is not the borrower) wants to sell and replace with different collateral. The bank wants to do this without doing a new loan. The only thing changing is the additional collateral - nothing pertaining to rate or payment is being changed. Would it be compliant to do a modification making reference to the new collateral? We would have to do a new flood determination for the new collateral being taken and a rescission since the collateral owner is putting up their primary residence. There is no cost to the original borrower but I'm guessing we would need to do a new settlement statement since we would be collecting a new flood determination from the collateral owner. Or would you suggest starting over?
07/01/2013
These are general RESPA questions that have recently been proposed by Management and we would appreciate your expertise.<ol><li>Do we have to itemize Hazard Insurance on the GFE for a home equity loan when the Hazard Insurance is already in place? It is my understanding this is a requirement on the GFE because we require the Hazard Insurance to be in place before making the loan therefore it is a cost of the loan.<li>If all the fees are paid by the lender except for the origination fee, do we need to itemize each fee paid by the lender on the GFE? Doing this gives the wrong impression to the customer that they will owe fees that they actually won't have to pay.<li>If your answer is yes to #2, could we show a credit on the GFE for the fees being paid by the lender? Doing so would bring the final fee disclosed to reflect the actual amount being paid by the customer. Another related-question would be what line would the credit be reflected on the GFE? </ol>
06/03/2013
I have customers purchasing a new home, which needs some work. We are doing a purchase money loan for homestead, with builders & mechanics lien contract for adding a kitchen to this house. The title company is requiring a 3 day ROR. I say one is not necessary since this is a purchase. Title company says since we are advancing funds for improvements, a 3 day ROR is required. It is not currently their homestead, they are buying it.
