A Notice of Assignment describes the borrower's assignment of collateral and provides notification to the owner(s) of an account pledged as collateral that 1) funds are not accessible, or limited and 2) are at risk of loss until the loan is paid in full. 

This documentation is included with the loan package provided by Loan Doc Prep and is required when the loan is secured by one of the following held at Capital City Bank (CCB): 

• Certificate of Deposit (CD)
• Savings Account, or
• Money Market Account 

Note:

• If the beneficiary on an account (POD) is a minor, the account may not be used as collateral.
• An IRA account can never be used as collateral.
• It is against federal regulations to place holds on transactional accounts (for example: regular checking account, NOW) for lien purposes.

Completed documentation must include: 

• Loan name
• Loan number
• Loan date
• Name of institution
• Collateral account owner(s)
• Collateral account number
• Signature of all account owners
• Signature of any beneficiaries (if not owner)

Once completed, the Notice of Assignment document is uploaded to Synergy (consumer purpose) or Abrigo (business purpose). If all documents are “wet signed”, send to loan servicing in the designated bag.

If you need additional assistance Abrigo, please contact _Abrigo Help.