Understanding Commercial Loan Documentation
Explore in detail the various documents in a commercial loan transaction.
Learn what each document does and why it’s used.
Though we’ll emphasize commercial loans, many of the documents and concepts also apply to residential loans.
We’ll discuss notes, mortgages, security agreements, assignments of rents, participation agreements, guarantees and other documents, as well as information on title insurance, lien perfection and priority, documentary stamp taxes and intangible taxes, loan renewals and modifications, and more!
Your teacher is a Florida attorney with more than 25 years of experience representing banks and other lenders both in closing and collecting loans.
- Understanding borrowing entities (corporations, LLCs, partnerships, etc.)
- Documents needed to verify authority of borrowing entities
- Evidence of indebtedness (term notes, revolving line of credit notes, etc.)
- Mortgages (including modifications, mortgage spreaders, future advances)
- Assignments of rents
- Equipment financing (security agreements, UCC-1 forms, UCC-3 forms)
- Specialized collateral (titled vehicles, airplanes, life insurance policies, investment securities)
- Letters of Credit
- Cross defaults and cross collateralizations
- Loan renewals and loan modifications
- Documents applicable to construction loans
- And much more!
Lenders, credit officers, paralenders, document preparation specialists, loan booking specialists and other bankers in commercial lending. Residential lenders will also benefit.
Douglas Waldorf is a shareholder with Rogers Towers, P.A. and manages the firm’s offices in Southwest Florida. He is a member of Rogers Towers’ Banking and Financial Services Practice Group and its Real Estate Department. A Florida Bar Board Certified Real Estate Attorney, Mr. Waldorf’s practice focuses on serving banking industry clients in all aspects of commercial and residential financing transactions as well as in mortgage foreclosures, deeds in lieu of foreclosure, forbearance agreements and other matters related to defaulted loan workouts and collection. He has more than 25 years’ experience in representing lenders including nearly 12 years as in house counsel for SunTrust Bank in Southwest Florida.
Institute of Certified Bankers: Visit http://www.icbmembers.org/login.aspx for instructions regarding self-reporting. Estimated credits: 2.5 CE Credits
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