A lender must properly perfect its security interest to protect its lien priority in collateral. But did you know that not all perfection methods are legally effective for all types of collateral? This webinar will explain how to properly perfect a security interest in various types of collateral for consumer and commercial loans, including deposit accounts, stocks and mutual funds, equipment, inventory, accounts receivable, general intangibles, and farm products. It will also address situations when a UCC-1 financing statement, taking possession of the collateral, or obtaining a third-party control agreement are required for perfection.
Further, did you know it’s possible for a subsequent lender to obtain a priority security interest when another creditor already has an existing security interest in that collateral? Many lenders are surprised when they learn they have lost their security interest to a subsequent lender which obtained a purchase money security interest. Conversely, many prospective lenders have lost opportunities to make new loans because they don’t understand how to obtain priority over existing security interests. This webinar will explain the proper steps to obtain super-priority status with a purchase money security interest in collateral.
Attendance verification for CE credits provided upon request.
WHO SHOULD ATTEND?
This informative session will benefit all loan officers, loan operations staff, credit administration personnel, managers, collectors, compliance personnel, auditors, attorneys, and others involved in the credit process.
If you are having issues with registering online, please contact CBAO's Education & Training Coordinator, Lianne Simeone, (614) 610-1877.