12/16/2013
I have a business loan that is secured by real estate and equipment purchased. The business has purchased another piece of equipment. I know that we will file another UCC-1 for the new equipment; however, do I prepare a Security Agreement also?
06/24/2013
I have a note that references a Security Agreement but there is no Security Agreement attached. Instead there is a UCC that is being use as a Security Agreement. Is this okay, or should there also be a Security Agreement that references the UCC?
03/25/2013
I have an existing mortgage on land. We are disclosing a construction loan. Should the security interest description in the fed box show purchase money AND real estate or simply real estate and does that really matter. The assumption clause is there either way.
03/04/2013
We have taken a certificate of deposit for collateral on a loan. The officer printed the assignment of deposit with the collateral description reading all existing and future accounts instead of the CD and number we actually took. Are we covered if the loan defaults?
01/28/2013
The Fed box on a note. For a car loan, can you only put the year of the car and maybe the make. Do you have to have the vin # there as well?
10/08/2012
If we are modifying a HELOC and increasing the credit limit do we have ROR?
09/10/2012
Are initial PMI disclosures required on non-owner occupied purchase transactions?
06/25/2012
Is it permitted to use someone else's savings or CD account (borrower isn't a co-owner) for collateral on a loan?
05/07/2012
I have a question regarding correct filing requirements for perfecting a security interest. The company is incorporated in Delaware and they are registered in Virginia (not domesticated). Our collateral is not real estate and is not farm/timber related collateral. Do we file in both Delaware and Virginia?
04/30/2012
I have a question regarding correct filing requirements for perfecting a security interest. The company is incorporated in Delaware and they are registered in Virginia (not domesticated). Our collateral is not real estate and is not farm/timber related collateral. Do we file in both Delaware and Virginia?