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OnDemand Course

Understanding UCC Article 9 Foreclosures

Explore whether a UCC foreclosure or an alternative remedy is the best option as the next downturn approaches so that all parties can be prepared.

There are indications that an economic downturn may be coming sooner than later, and many secured parties have not had to conduct a UCC foreclosure or otherwise exercise remedies over the last several years. Some of the lessons and nuances of workouts, foreclosures and other remedy enforcement that were learned during the last downturn have been forgotten during the intervening economic boom. This topic reminds both lenders and borrowers of those lessons and nuances. In particular, this topic will explore whether a UCC foreclosure or an alternative remedy is the best option, why workouts often benefit all parties involved and how UCC foreclosures operate when different collateral classes are involved. This information is critical as the next downturn approaches so that all parties can be prepared.

Learning Objectives

  • You will be able to identify the requirements of Default
  • You will be able to identify lender due diligence requirements
  • You will be able to identify steps in a foreclosure
  • You will be able to differentiate between the types of Foreclosures

Runtime: 87 minutes
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Why Lorman?

Over 33 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Agenda

When to Foreclose

  • Are All Defaults Created Equally?
  • Workouts Can Be Good for Everyone
  • Diligence, Diligence, Diligence

How to Foreclose

  • Giving the Proper Notice to All Parties
  • Different Remedies for Different Collateral and Different Situations
  • Whatever You Do, Be Commercially Reasonable

Issues Affecting Foreclosure

  • Rights of Third Parties
  • Some Lessons Learned in the Trenches
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Why Lorman?

Over 33 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Credits

OnDemand Course

This course was last revised on April 7, 2020.

Call 1-866-352-9540 for further credit information.

  • CPE/NASBA - QAS Self Study 2.0 including Business Law 2
     
  • Lorman Education Services is registered with the National Association of State Boards of Accountancy (NASBA) as a QAS Self Study sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its web site: https://www.nasbaregistry.org/cpas/complaints. For more information regarding administrative policies such as complaint and refund, please contact our offices at 866-352-9539. CPE Credit: Maximum Credit Hours: 2.0 each session (based on a 50 minute credit hour). You must attend at least 50 minutes to obtain credit. Field of Study: Business Law for 2.0 hours. Prerequisite: basic knowledge of the banking industry. Level of Knowledge: Intermediate. Teaching Method: Seminar/Lecture. Advance Preparation: None. Delivery Method: QAS Self Study. Please refer to the information in this advertisement for outline, course content and objectives. Upon completion of this course, you will receive a certificate of attendance. Final approval of a course for CPE credit belongs with each state's regulatory board.
     
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Why Lorman?

Over 33 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Faculty

Reed Mercado

Reed Mercado

Buchalter

  • Senior counsel in the Los Angeles office of Buchalter, P.C.
  • Has represented both senior and mezzanine secured lenders for over 12 years, in a wide variety of industries (including food & beverage, retail and entertainment, and in a wide variety of contexts (including syndicated, club and bilateral deals)
  • Focuses on documenting commercial finance transactions, and learned to do so during the last downturn by working out and restructuring troubled credits, conducting extensive diligence on troubled loan portfolios to identify weaknesses in documentation, enforcing UCC and other remedies, and guiding secured parties through both debtor-in-possession financing and collateral sales in a bankruptcy
  • Conducts regular seminars and workshops on numerous topical issues that are or will shortly be affecting commercial finance transactions, including trade tariffs, LIBOR and remedies enforcement
  • J.D. degree, Berkeley School of Law
  • Can be contacted at [email protected] or 213-891-5095
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Why Lorman?

Over 33 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

All of your training, right here at Lorman.

Pay once and get a full year of unlimited training in any format, any time!

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Product ID: 407689
Published 2020
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