CC_S_206.3 Security Instruments in CMF Lending
Member Price: $49.00
Nonmember Price: $79.00
Product Code: DL2-011240-WC-WPurchase
This is a commercial/multifamily course.
While the promissory note sets forth repayment terms, the security instrument sets forth most other loan terms, conditions, restrictions, and covenants for a commercial/multifamily loan and property. Servicers must understand the terms described in the security instrument, particularly the rights and responsibilities of the borrower and lender in various circumstances.
Security Instruments in CMF Lending walks through the fundaments of the security instrument and related implications for commercial/multifamily servicing. First, the course describes how the security instrument establishes collateral for the lender. Next, it covers provisions of the security instrument that pertain to the financial strength of the property of and borrower. It continues by discussing how to apply the basic provisions of the security instrument to sale and transfer of ownership situations. It then describes security instrument requirements related to the operation, management, and maintenance of the property. Next, the course assesses common casualty and condemnation situations and explains how the security instrument protects the property and the lender in these situations. Finally, the course describes implications of the security instrument for monetary and non-monetary default situations.
Seat time approximately one (1) hour.