{"id":8820,"date":"2016-11-02T19:35:59","date_gmt":"2016-11-02T19:35:59","guid":{"rendered":"https:\/\/www.process.st\/templates\/stock-lease-review\/"},"modified":"2024-02-28T20:50:51","modified_gmt":"2024-02-28T20:50:51","slug":"stock-lease-review","status":"publish","type":"post","link":"https:\/\/www.process.st\/templates\/stock-lease-review\/","title":{"rendered":"Stock &amp; Lease Review"},"content":{"rendered":"<section id=\"stock-certificate\">\n<h2> Stock Certificate <\/h2>\n<div class=\"multi-select-content form-field-content\">\n<ul class=\"items\">\n<li class=\"item\">\n<div class=\"step-number-container\">\n<div class=\"step-number\">\n       1\n     <\/div>\n<\/p><\/div>\n<div class=\"step-checkbox-container\">\n<div class=\"step-checkbox\"><\/div>\n<\/p><\/div>\n<div class=\"item-name-static\">\n      Do names and spelling on stock certificate match Encompass &amp; State issued ID?\n    <\/div>\n<\/li>\n<li class=\"item\">\n<div class=\"step-number-container\">\n<div class=\"step-number\">\n       2\n     <\/div>\n<\/p><\/div>\n<div class=\"step-checkbox-container\">\n<div class=\"step-checkbox\"><\/div>\n<\/p><\/div>\n<div class=\"item-name-static\">\n      Do title vesting names on page 1 of 1003 match the way names are spelled on stock cert?\n    <\/div>\n<\/li>\n<li class=\"item\">\n<div class=\"step-number-container\">\n<div class=\"step-number\">\n       3\n     <\/div>\n<\/p><\/div>\n<div class=\"step-checkbox-container\">\n<div class=\"step-checkbox\"><\/div>\n<\/p><\/div>\n<div class=\"item-name-static\">\n      Are there multiple stock certs for the unit? If so, make sure lender accepts this. i.e. 10AD (1 for 10A, 1 for 10D). Def ok with Citi. Not sure about Chase, Wells or GR.\n    <\/div>\n<\/li>\n<li class=\"item\">\n<div class=\"step-number-container\">\n<div class=\"step-number\">\n       4\n     <\/div>\n<\/p><\/div>\n<div class=\"step-checkbox-container\">\n<div class=\"step-checkbox\"><\/div>\n<\/p><\/div>\n<div class=\"item-name-static\">\n      Does unit # listed match Encompass exactly? i.e. 10AD vs 10A\/D.\n    <\/div>\n<\/li>\n<li class=\"item\">\n<div class=\"step-number-container\">\n<div class=\"step-number\">\n       5\n     <\/div>\n<\/p><\/div>\n<div class=\"step-checkbox-container\">\n<div class=\"step-checkbox\"><\/div>\n<\/p><\/div>\n<div class=\"item-name-static\">\n      Does COOP Corp name match the rest of the COOP docs? (RECS, UCC1, prop lease)\n    <\/div>\n<\/li>\n<li class=\"item\">\n<div class=\"step-number-container\">\n<div class=\"step-number\">\n       6\n     <\/div>\n<\/p><\/div>\n<div class=\"step-checkbox-container\">\n<div class=\"step-checkbox\"><\/div>\n<\/p><\/div>\n<div class=\"item-name-static\">\n      Has it been signed by the COOP board and dated?\n    <\/div>\n<\/li>\n<\/ul><\/div>\n<div class=\"text-content\">\n<p>Chase &amp; Citi allow&nbsp;multiple stock certs for a combined unit. However,&nbsp;their stance can change so always double check upfront.<\/p>\n<\/p><\/div>\n<div class=\"image-content\">\n<figure>\n   <a href=\"https:\/\/www.process.st\/templates\/wp-content\/uploads\/2024\/02\/lQkhTUXTUk9fwYRpzH9Ptg.png\" alt=\"Sample Stock Certificate\" target=\"_blank\" rel=\"noopener\"> <img decoding=\"async\" loading=\"lazy\" src=\"https:\/\/www.process.st\/templates\/wp-content\/uploads\/2024\/02\/lQkhTUXTUk9fwYRpzH9Ptg.png\" \/> <\/a><figcaption>\n     Sample Stock Certificate<br \/>\n   <\/figcaption><\/figure>\n<\/p><\/div>\n<\/section>\n<section id=\"proprietary-lease\">\n<h2> Proprietary Lease <\/h2>\n<div class=\"multi-select-content form-field-content\">\n<ul class=\"items\">\n<li class=\"item\">\n<div class=\"step-number-container\">\n<div class=\"step-number\">\n       1\n     <\/div>\n<\/p><\/div>\n<div class=\"step-checkbox-container\">\n<div class=\"step-checkbox\"><\/div>\n<\/p><\/div>\n<div class=\"item-name-static\">\n      Do the names match the stock cert &amp; title vested on page 1 of 1003?\n    <\/div>\n<\/li>\n<li class=\"item\">\n<div class=\"step-number-container\">\n<div class=\"step-number\">\n       2\n     <\/div>\n<\/p><\/div>\n<div class=\"step-checkbox-container\">\n<div class=\"step-checkbox\"><\/div>\n<\/p><\/div>\n<div class=\"item-name-static\">\n      Does the prop lease expiration date exceed the term of the loan?\n    <\/div>\n<\/li>\n<li class=\"item\">\n<div class=\"step-number-container\">\n<div class=\"step-number\">\n       3\n     <\/div>\n<\/p><\/div>\n<div class=\"step-checkbox-container\">\n<div class=\"step-checkbox\"><\/div>\n<\/p><\/div>\n<div class=\"item-name-static\">\n      Was it been signed by POA? If so, we will need a copy of the POA.\n    <\/div>\n<\/li>\n<li class=\"item\">\n<div class=\"step-number-container\">\n<div class=\"step-number\">\n       4\n     <\/div>\n<\/p><\/div>\n<div class=\"step-checkbox-container\">\n<div class=\"step-checkbox\"><\/div>\n<\/p><\/div>\n<div class=\"item-name-static\">\n      Is the notary page complete? (all parties involved are accounted for, the date for the borrower\u2019s signatures is same as prop lease date, etc.).\n    <\/div>\n<\/li>\n<\/ul><\/div>\n<div class=\"text-content\">\n <\/div>\n<\/section>\n<section id=\"lien-search\">\n<h2> Lien Search <\/h2>\n<div class=\"multi-select-content form-field-content\">\n<ul class=\"items\">\n<li class=\"item\">\n<div class=\"step-number-container\">\n<div class=\"step-number\">\n       1\n     <\/div>\n<\/p><\/div>\n<div class=\"step-checkbox-container\">\n<div class=\"step-checkbox\"><\/div>\n<\/p><\/div>\n<div class=\"item-name-static\">\n      $50,000 worth of coverage for errors &amp; omissions?\n    <\/div>\n<\/li>\n<li class=\"item\">\n<div class=\"step-number-container\">\n<div class=\"step-number\">\n       2\n     <\/div>\n<\/p><\/div>\n<div class=\"step-checkbox-container\">\n<div class=\"step-checkbox\"><\/div>\n<\/p><\/div>\n<div class=\"item-name-static\">\n      Any judgments\/ECBs\/violations\/bankruptcies for the COOP corp.? If so, ask TONY to request an indemnification letter.\n    <\/div>\n<\/li>\n<li class=\"item\">\n<div class=\"step-number-container\">\n<div class=\"step-number\">\n       3\n     <\/div>\n<\/p><\/div>\n<div class=\"step-checkbox-container\">\n<div class=\"step-checkbox\"><\/div>\n<\/p><\/div>\n<div class=\"item-name-static\">\n      Any judgments\/bankruptcies for the borrower? If so, we should check with MC\/LC that we verified they have been paid\/closed prior to or will be paid\/closed at closing.\n    <\/div>\n<\/li>\n<\/ul><\/div>\n<\/section>\n<section id=\"proposed-aztec\">\n<h2> Proposed AZTEC <\/h2>\n<div class=\"multi-select-content form-field-content\">\n<ul class=\"items\">\n<li class=\"item\">\n<div class=\"step-number-container\">\n<div class=\"step-number\">\n       1\n     <\/div>\n<\/p><\/div>\n<div class=\"step-checkbox-container\">\n<div class=\"step-checkbox\"><\/div>\n<\/p><\/div>\n<div class=\"item-name-static\">\n      Is it the standard 1973 form? If not, it could be custom, which could be a problem.\n    <\/div>\n<\/li>\n<li class=\"item\">\n<div class=\"step-number-container\">\n<div class=\"step-number\">\n       2\n     <\/div>\n<\/p><\/div>\n<div class=\"step-checkbox-container\">\n<div class=\"step-checkbox\"><\/div>\n<\/p><\/div>\n<div class=\"item-name-static\">\n      Does borrower name(s) match stock cert &amp; prop lease?\n    <\/div>\n<\/li>\n<li class=\"item\">\n<div class=\"step-number-container\">\n<div class=\"step-number\">\n       3\n     <\/div>\n<\/p><\/div>\n<div class=\"step-checkbox-container\">\n<div class=\"step-checkbox\"><\/div>\n<\/p><\/div>\n<div class=\"item-name-static\">\n      Does the property address on page 1 &amp; 2 match the stock cert &amp; prop lease?\n    <\/div>\n<\/li>\n<li class=\"item\">\n<div class=\"step-number-container\">\n<div class=\"step-number\">\n       4\n     <\/div>\n<\/p><\/div>\n<div class=\"step-checkbox-container\">\n<div class=\"step-checkbox\"><\/div>\n<\/p><\/div>\n<div class=\"item-name-static\">\n      Does the corp. name on page 2 match the stock cert &amp; prop lease?\n    <\/div>\n<\/li>\n<li class=\"item\">\n<div class=\"step-number-container\">\n<div class=\"step-number\">\n       5\n     <\/div>\n<\/p><\/div>\n<div class=\"step-checkbox-container\">\n<div class=\"step-checkbox\"><\/div>\n<\/p><\/div>\n<div class=\"item-name-static\">\n      Do # of shares match the stock certificate\n    <\/div>\n<\/li>\n<li class=\"item\">\n<div class=\"step-number-container\">\n<div class=\"step-number\">\n       6\n     <\/div>\n<\/p><\/div>\n<div class=\"step-checkbox-container\">\n<div class=\"step-checkbox\"><\/div>\n<\/p><\/div>\n<div class=\"item-name-static\">\n      Does the loan amount match Encompass?\n    <\/div>\n<\/li>\n<\/ul><\/div>\n<\/section>\n<section id=\"proposed-ucc1\">\n<h2> Proposed UCC1 <\/h2>\n<div class=\"multi-select-content form-field-content\">\n<ul class=\"items\">\n<li class=\"item\">\n<div class=\"step-number-container\">\n<div class=\"step-number\">\n       1\n     <\/div>\n<\/p><\/div>\n<div class=\"step-checkbox-container\">\n<div class=\"step-checkbox\"><\/div>\n<\/p><\/div>\n<div class=\"item-name-static\">\n      MUST INCLUDE THE FOLLOWING INFO:\n    <\/div>\n<\/li>\n<li class=\"item\">\n<div class=\"step-number-container\">\n<div class=\"step-number\">\n       2\n     <\/div>\n<\/p><\/div>\n<div class=\"step-checkbox-container\">\n<div class=\"step-checkbox\"><\/div>\n<\/p><\/div>\n<div class=\"item-name-static\">\n      Loan Origination Organization: Guaranteed Rate, Inc.\n    <\/div>\n<\/li>\n<li class=\"item\">\n<div class=\"step-number-container\">\n<div class=\"step-number\">\n       3\n     <\/div>\n<\/p><\/div>\n<div class=\"step-checkbox-container\">\n<div class=\"step-checkbox\"><\/div>\n<\/p><\/div>\n<div class=\"item-name-static\">\n      Loan Officer: Debra Shultz\n    <\/div>\n<\/li>\n<li class=\"item\">\n<div class=\"step-number-container\">\n<div class=\"step-number\">\n       4\n     <\/div>\n<\/p><\/div>\n<div class=\"step-checkbox-container\">\n<div class=\"step-checkbox\"><\/div>\n<\/p><\/div>\n<div class=\"item-name-static\">\n      NMLS ID: 49302\n    <\/div>\n<\/li>\n<li class=\"item\">\n<div class=\"step-number-container\">\n<div class=\"step-number\">\n       5\n     <\/div>\n<\/p><\/div>\n<div class=\"step-checkbox-container\">\n<div class=\"step-checkbox\"><\/div>\n<\/p><\/div>\n<div class=\"item-name-static\">\n      Managing Agent name, address &amp; phone\n    <\/div>\n<\/li>\n<li class=\"item\">\n<div class=\"step-number-container\">\n<div class=\"step-number\">\n       6\n     <\/div>\n<\/p><\/div>\n<div class=\"step-checkbox-container\">\n<div class=\"step-checkbox\"><\/div>\n<\/p><\/div>\n<div class=\"item-name-static\">\n      MERS\/MIN #\n    <\/div>\n<\/li>\n<\/ul><\/div>\n<\/section>\n<section id=\"email-to-cemacoop-team\">\n<h2> Email to CEMA\/COOP Team <\/h2>\n<\/section>\n","protected":false},"excerpt":{"rendered":"<p>Stock Certificate 1 Do names and spelling on stock certificate match Encompass &amp; State issued ID? 2 Do title vesting names on page 1 of 1003 match the way names are spelled on stock cert? 3 Are there multiple stock certs for the unit? 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