Do a Flood Determination for Each Property?

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Question:

Should flood determinations be done for each property on a commercial loan where a blanket lien against a pool of residential properties will be taken as secondary collateral?

Answer:

Yes, you have a security interest in the buildings. However, I'm not sure what a blanket lien gets you when you are dealing with real property as collateral.

First published on BankersOnline.com 4/27/09