Correspondent Lending | NewRez
Solar panels are reported to be collateral for separate (non-mortgage) debt to purchase the panels, but do not appear on the title report. Obtain and review the credit report, title report, and/or UCC
Solar Panels – Real Estate or Personal Property?
In this case, the system''s contributory value can not be considered as part of the property''s appraised value since the system would be considered Personal Property used to
Reviewing Properties with Solar Panels
Lenders are responsible for ensuring the appraiser has accurate information about the ownership structure of the solar panels and that the appraisal appropriately addresses any impact to the
Do Solar Panel Companies Put a Lien on Your Home?
If you finance solar panels through a secured loan, the lender uses the solar equipment itself as collateral. To formalize this, the lender files a public notice of their security interest, which,
UCC filing for solar panels
The key is being specific enough to identify the collateral but broad enough to cover all components. Make sure your debtor name matches exactly what''s on the business registration too.
UCC-1 Filings in Solar Projects: Purpose and Benefits
When solar installations are financed through loans, lenders use UCC-1 filings to designate the solar equipment as collateral. This arrangement offers several benefits and considerations: UCC-1 filings
What to Know about UCC Liens before Going Solar
Most typically, the collateral in a UCC-1 filing statement is the panels themselves and any hardware associated with their installation and operation. However, it is possible to put up other property as
Appraising properties with solar panels
The ownership and debt financing structures commonly found with solar panels are key to determining whether the panels are third-party owned, personal property of the homeowner, or a fixture to the
How solar lenders can mitigate risk with fixture filings
Fixture filings are legal recordings of a security interest in personal property attached to real estate, such as solar panels. They protect the lenders'' interests in solar panels and other
Solar Contracts, Leases, Liens & Your Rights
As one law firm explains, a UCC lien on solar panels can appear to be a lien on the entire property, creating a “cloud” on the title that can spook uninformed buyers or lenders. In reality,