Latest Lending - UCC Topics

Modifications and borrower ficticious names

12/22/2024

When preparing the modification for a renewal/extension, if the borrower's fictitious name statement expired and we have re-filed for the fictitious name, do we need to indicate the new filing date in the modification agreement?

Securing multi-parcel loan

07/30/2023

We are doing a loan with 7 combined parcels - and just one borrower. All the parcels are titled the same. Do seperate UCC's need to be filed for each or can they be combined into one?

Re-perfecting a UCC Lien

03/26/2023

When a UCC is terminated, then the following year it is continued, then continued a second time, is that a valid perfection?

Correcting a UCC Filing

10/09/2022

When continuing a UCC, an assignment file number was used instead of the original file number. Will this continuation still be valid? We would refile the continuation using the original filing number, however the window has since lapsed. Wondering if the continuation is valid, or if we should file a new UCC?

Mortgage Lien Release

06/26/2022

How long does a bank have to mail out a release of lien on a single family residence mortgage or a commercial mortgage?

Is a UCC on a fixture a lien for TRID?

03/27/2022

Is a UCC on a fixture a lien for TRID?

Does "contents" collateral trigger flood?

03/20/2022

If the bank takes a blanket commercial UCC as collateral does that trigger the requirement to obtain proof of Contents Coverage if the property is in a flood zone, or would the UCC have to be specific to Equipment, Furniture & Fixtures as well as the loan approval? Would proof of flood/contents coverage be necessary on a blanket commercial UCC taken as collateral?

Assignment of Rents and Leases- File UCC?

01/16/2022

If we take an assignment of rents and leases, should we also file a UCC?

Debt Collector-Civil Departments to Serve UCC-1

04/04/2021

We are a debt collector. How do we reach a banks civil departments to serve them with a UCC-1?

California UCC Filing System

03/28/2021

Where can I access the California UCC Filing System?

HMDA: Income reporting of multiple applicants

05/04/2025

I have a HMDA loan that has four applicants. I know we need to collect GMI information for all four but only report two on the LAR. Do we report income for all four applicants on the LAR?

Set-off across state lines

05/04/2025

Our customer has a past due loan. Can the bank exercise the right of offset using a checking account that is held in a bank with the same charter but located out of state.

Advertising a 7/6 ARM product

05/04/2025

When advertising a 7/6 ARM product on a website is it acceptable to just show a payment amount per $1,000 based on a loan amount of $215,000 along with the interest rate and APR or should the payment be shown after the seven-year initial fixed-rate period as well to be in compliance?

Use Cases for an ECM

04/27/2025

What are common use cases for an ECM in banking?

Offering loan application forms online

04/27/2025

We are considering putting our loan applications online as a PDF because we get asked a lot if we offer this. I am having trouble locating the do's and don'ts of this. Can someone please guide me in the right direction?

Latest Lending - UCC Topics

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