A mistake in the repossession process can cost you the right to pursue a borrower and cause substantial damage to your institution. That’s a high price to pay! Ensure your team knows the ins and outs of the repo requirements from top to bottom.
- Explain the UCC Article 9 requirements in the repossession, notice, and sale processes
- Understand how to legally conduct self-help repossession
- Distinguish between a private sale versus a public sale and when each should be used
- Explain what the notice of sale must contain
- Use commercially reasonable sale procedures
No lender likes to do repossessions, but it may be the only way to collect on a loan. However, the repossession process is fraught with peril for your institution. This webinar will explain all aspects of the repossession process regarding non-real estate collateral, starting with the decision to repossess and ending with the disposition of the collateral at a private or public sale. Learn the steps to properly repossess and dispose of collateral under UCC Article 9.
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.
Live and recorded webinar, handouts, quiz with answer key and training log are included.
Your registration includes unlimited locations, making it easier to share and learn with remote staff.
Please note: You may share the link with others at your credit union, however the confirmation will be sent to one primary contact at your credit union. It will be up to the primary contact to share the material with others.