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Home >> Lending
About the Collateral Documents of a Loan
What are the collateral documents of a loan which banks are required to retain and not archive while the loan is active?
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 Rules can vary from state to state. The collateral documents include the security agreement, vehicle, boat, trailer titles, deed of trust, stocks, etc.
As to not archiving these while the loan is active, I have no idea. Most everything is copied and/or scanned. Note I said most everything. When only an original is valid, such as with a car title, and a duplicate may be ordered from the state, these may not be copied at the option of the bank. A copy does them little good after their lien is perfected.
Published on BankingQuestions.com 4/06/09
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