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Group Internet Based | 1.5 (1CPE for 50 minutes) | Field - Finance- (1.5 CPE) | Intermediate | Prerequisites - None| No advance preparation.
Many loans extended by commercial banks are secured by personal property which is governed by Revised Article 9 of the Uniform Commercial Code. It is important for Commercial Lenders, Consumer Lenders and Loan Administrators to understand the principles of Revised Article 9 under the Uniform Commercial Code as it relates to collateral attachment and perfection.
This course will provide an overview of Revised Article 9 and will focus on the most relevant factors bankers and administrators need to know in order to “Attach” and “Perfect” the most common forms of personal property. The course will focus less on theory and more on the practical application of the rules under Revised Article 9 including: Types of personal property covered by Revised Article 9 and their legal definitions; Preparing all UCC Financing Statements Forms properly to insure perfection; Utilizing the proper collateral descriptions on Security Agreements and Financing Statements; Filing the Financing Statements in the proper location and other areas of concern.
In addition, this course will introduce the amendments to Revised Article 9 which have been approved by the Uniform Law Commission and are waiting to be introduced into the legislature and passed by all fifty states. The effective date for the amendments to be activated is July 1, 2013. These amendments provide greater guidance for the name of the Debtor to be inserted on the Financing Statement and clarify which name of a registered organization is recognized as the legal name. The amendments also deals with perfection issues arising from property acquired after the Debtor (Individual or organization moves to a new jurisdiction and others.
The ultimate goal of this seminar is to provide the participants with an understanding of how to document, close and record secured transactions that are covered by Revised Article 9 of the Uniform Commercial Code. After taking this course the participant should have a good working knowledge for managing the most common commercial and consumer secured transactions governed by Revised Article 9.
A list of topics to be covered is as follows:
- The Loan Documentation Process
- Collateral Definitions
- Types of Collateral Governed by the UCC
- Attachment and Perfection Rules
- Collateral Descriptions on Security Agreements & UCC Financing Statements
- Completing the Financing Statements
- Filing the Financing Statement
- Senior Credit Officers Senior Loan Officers Loan Officers
- Loan Operations Personnel
- Loan Administrative Assistants/Secretary Branch Managers
- Loan Review Officers Compliance Officers
Jeffery Johnson’s banking career expands 36 years working for large, regional and community banks. He started his career with SunTrust National Bank in Atlanta as a Management Trainee and progressed to Vice President and Senior Lender for SouthTrust Bank (a large Southeastern Regional Bank) and Senior Vice President and Commercial Banking Division Manager for Citizens Trust Bank of Atlanta (Community Bank).
Most of his career has been spent in Credit Administration, Lending (Commercial, Consumer and Real Estate), Business Development, Loan Review, Management and Training & Development. He has managed loan portfolios representing a cross section of loan types including: Large Corporate, High Net Worth Individuals, Middle Market Companies, Small Businesses, Real Estate and Non-Profit Organizations and managed several loan officers with portfolio management responsibilities.
Mr. Johnson is now a training professional in the banking industry by leading various seminars covering important topics relating to issues in banking. He teaches actively for twenty-two state banking associations and community banking associations in the United States, Risk Management Association (RMA) and individual banks nationwide. He co-authored a training course entitled “Lending to Service and Other Professional Organizations” for RMA in 2001.
He led a week long Consumer Lending school for UNI Strategic in Singapore where bankers from Malaysia, Indonesia and Singapore were in attendance and is scheduled to present the same program in Kuala, Lumpur in November 2012. He was also invited to lead a week long Advanced Commercial Lending & Commercial Loan Documentation in Dubai (United Arabs Emirates) hosted by IIR Middle East, a firm specializing in international conferences and seminars.
In order to stay abreast of issues facing banks, Mr. Johnson engages in Loan Reviews for his client banks. During an engagement, he reviews loans of all sizes to determine creditworthiness; compliance with banking rules and regulations; compliance with the bank’s internal credit policy; accuracy of the loan grade; completeness of the documentation file and other aspects such as portfolio trends, performance and capital adequacy.
Mr. Johnson earned a B.A. Degree in Accounting from Morehouse College in Atlanta, GA; a MBA in Finance from John Carroll University in Cleveland, Ohio; Diploma of Graduation from the Prochnow School of Banking at the University of Wisconsin-Madison and a Graduate Certificate in Bank Management from the First American Management Institute at the University of Pennsylvania’s Wharton School of Business.