Webinar: Commercial Loans: Foreclosing on Your Security Interest in Collateral
March 10, 2025 3:00 pm - 4:30 pm
Foreclosure can be an unpleasant and complex topic.
But that can be mitigated substantially with flawless skills and a thorough understanding of the regulatory requirements. Join us to learn how to properly foreclose on collateral, preserve your institution’s security interest, and avoid mistakes in the process.
AFTER THIS WEBINAR YOU’LL BE ABLE TO:
- Explain the requirements imposed by UCC Article 9 when foreclosing on your security interest in non-real estate collateral
- Understand the difference between foreclosing on your security interest and exercising your right of setoff – and when best to use each method
- Distinguish the requirements for different types of collateral
- Understand the rights of all creditors claiming a security interest, including when your institution has priority
WEBINAR DETAILS
This webinar will walk through foreclosing on your institution’s security interest in real and personal property collateral, including various requirements based on collateral type. UCC Article 9 requires that specific steps be taken within specific time periods. State law also imposes specific requirements when your collateral is real estate. Failing to comply with UCC or state law requirements can result in loss of your security interest, another creditor obtaining priority over your institution, and other unintended consequences. Learn how to avoid mistakes in the foreclosure process.
WHO SHOULD ATTEND?
This informative session is designed for personnel involved in the loan collection process, such as loan officers, workout officers, loan operations personnel, collectors, attorneys, auditors, compliance officers, and managers.
TAKE-AWAY TOOLKIT
- Checklist of procedural steps to take when foreclosing on personal property and real estate
- Employee training log
- Interactive quiz
- PDF of slides and speaker’s contact info for follow-up questions
- Attendance certificate provided to self-report CE credits
Speaker: Shelli Clarkston, Spencer Fane LLP
Shelli Clarkston is an attorney with Spencer Fane LLP where she provides financial institutions with proactive legal counsel on regulatory and compliance matters. She received her law degrees from the University of Missouri – Kansas City and her undergraduate degree from the University of Nebraska – Lincoln. In addition, she has a master’s degree from Doane University.
Before joining Spencer Fane, Shelli was the Risk and Compliance Officer for a financial services technology platform with one of the world’s largest technology companies. She oversaw the platform’s regulatory compliance and handled all risk-related matters. She also has experience as general counsel for a community bank, where she managed all legal, regulatory, compliance, and corporate matters.