Uninsured Title Products For Lenders
March 21, 2019
Due Diligence, Title Related Topics
Is an insured title product with a corresponding title policy always required for a lender’s purposes? Is it always required to pay that premium?
The answer is: it depends.
So when is an uninsured title product OK? When is a title policy unnecessary?
Lender title products usually come in three variables, depending on the lender’s risk considerations.
An “Update” product, which is just what it sounds like, an update to a…READ MORE
Equipment Finance & Purchase Money Security Interest (PMSI)
March 14, 2019
UCC, Online UCC System, Due Diligence
Equipment finance or leasing is a lending type that specializes in lending on specific collateral. Equipment finance companies can vary greatly and tend to specialize on specific industries and often tend to be manufacturers (farm equipment, medical and dental equipment, freight, industrial equipment, etc.).
One product that is unique to this industry is purchase money security interest packages, or PMSI. A PMSI filing will allow a…READ MORE
Delaware Division of Corporations – Limited Staffing Event on March 29th
March 08, 2019
On Friday, March 29 an Employee Recognition Event is planned for employees of the Delaware Division of Corporations. The 4-12 shift will be working 12 Noon to 8 P.M. and the following changes will be in effect:
All 30 Minute and Priority 1 (one-hour service) must be received by 6 P.M.; Priority 2 (two-hour service) must be received by 5 P.M. All other cut-off times will remain unchanged.
State Only Lien Monitoring? It’s Risky
March 01, 2019
UCC, Due Diligence, Reduce Financial Risk, Lien Monitoring
When evaluating lien monitoring programs, programs that are designed to monitor your Financing Statements for lien filings that can prime your perfected security interest, it is important to recognize that many states do not maintain records of Federal Tax Liens or Judgment Liens Attached to Real Property at the state-level filing office. Nevertheless, these liens have the potential to prime a perfected security interest.
That’s why,…READ MORE