19.4.3.2 Description of Collateral
HUD Multifamily Accelerated Processing (MAP) Guide, HUD Handbook 4430.G (2020 ed., rev. Mar. 19, 2021) · 2026 edition · updated 2026-10-05 · United States
A. Lender must attach to the UCC-1 Financing Statement a description of the non-realty Mortgaged Property, as defined in the Security Instrument. Descriptions of non-realty collateral for the UCC-1 Financing Statement may differ from the language used in the definition of Mortgaged Property in the Security Instrument, if required to comport with state law.
B. Lender is responsible for ensuring that the UCC-1 description of collateral is sufficient to create an enforceable first-priority lien, as certified to in the Lender's Certificate or Request for Endorsement, as applicable.
C. Appropriate after-acquired property and proceeds clauses must be included in the collateral description.
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Chapter 19 Page 19-28
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Chapter 19 Closing Guide 19.4 Document and Diligence Requirements
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