Lenders must properly obtain and perfect their security interest in collateral to protect their lien priority. A mistake during this process can result in losses. This webinar will explain the specific documents required to obtain a security interest in all different types of unconventional collateral (e.g., equity interests, mutual funds, intangibles, trademarks and patents, governmental receivables, chattel paper, logos and copyrights, electronic assets, airplanes, etc.). You will also learn when filing a UCC-1, taking possession, or obtaining a third-party control agreement is required for perfection of a security interest in unconventional collateral.
- How to create a security interest in unconventional collateral
- When specific wording is required in the collateral description
- Different types of collateral – when is possession, filing, or third-party control required for perfection
- Rules for different types of collateral
- When other creditors can take priority over your perfected security interest
- Checklist of every type of collateral and the required method of perfecting a security interest
- Employee training log
- Quiz you can administer to measure staff learning and a separate answer key
WHO SHOULD ATTEND?
This informative session is designed for all lending personnel, including loan officers, loan processors, loan operations staff, credit administration personnel, managers, collectors, compliance officers, and attorneys.
PLEASE NOTE: The live webinar option allows you to have one telephone connection for the audio portion and one Internet connection (from a single computer terminal) to view online visuals as the presentation is delivered. You may have as many people as you like listen from your office speaker phone.
ABOUT THE PRESENTER – Elizabeth Fast, JD & CPA, Spencer Fane LLP
Elizabeth Fast is a partner with Spencer Fane LLP where she specializes in the representation of financial institutions. Elizabeth is the head of the firm’s training division. She received her law degree from the University of Kansas and her undergraduate degree from Pittsburg State University. In addition, she has a Master of Business Administration degree and she is a Certified Public Accountant. Before joining Spencer Fane, she was General Counsel, Senior Vice President, and Corporate Secretary of a $9 billion bank with more than 130 branches, where she managed all legal, regulatory, and compliance functions. She is a member of the Missouri State Banking Board by appointment of the Governor.
Originally recorded on November 13, 2018.
Recorded webinar is available until May 31, 2019.
Free Digital Copy included with purchase to download and view beyond link expiration date.
Price includes sales tax.