Risk Management Blog

UCC & Corporate Due Diligence

Resource Guide for Legal and Financial Professionals

What’s Your Escrow Super Power?

October 13, 2017 Uncategorized

That’s this year’s theme for the California Escrow Association Annual Conference when it convenes this weekend 10/12-10/14 at the Costa Mesa Hilton. First Corporate Solutions is proud to be there again with escrow officers from across the state! Thursday’s main event is the Mark Coniglio Memorial Golf Tournament, always a wonderful kickoff to the weekend’s festivities, followed up by packed Friday and Saturday schedules, and culminating…READ MORE

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First Corporate Solutions To Exhibit At LAPA Conference Saturday

October 05, 2017 Event

First Corporate Solutions will exhibit once again at the Los Angeles Paralegal Association’s (LAPA) 41st Annual October Conference this Saturday, October 7, at the Glendale Hilton. The one-day event offers paralegals access to various legal seminars and legal service providers along with other networking opportunities. First Corporate Solutions (FCS) will present its corporate and transactional legal services, highlighted by Delaware…READ MORE

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California SB 2 Real Estate Transaction Fee Hike An Attempt To Fund Affordable Housing Development

September 28, 2017 Uncategorized

California Senate Bill 2 was was enrolled and presented to Governor Jerry Brown on September 21, 2017. As it awaits his decision to sign or not, and he has indicated he will sign it along with other legislation designed to address the affordable housing crisis in California, what is it and why is it important? If signed, California SB 2 will put into effect a $75 fee on real estate transaction documents when they are filed, capped at…READ MORE

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Single Extra Space Creates Seriously Misleading UCC Debtor Naming Error

September 15, 2017 UCC, Online UCC System, Due Diligence, Revised Article 9, Reduce Financial Risk, Tips

A recent court ruling in Wisconsin once again has affirmed the supreme importance secured parties must place on their data entry procedures when naming debtors on financing statements to perfect their security interests. A recap of the case can be found here. Once again, a typo in the debtor name created a UCC filing that was judged to be seriously misleading, and therefore left the secured party’s security interest with the debtor…READ MORE

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Frustrated By Missing Documents At Your Closings?

September 08, 2017 UCC, Corporate, Due Diligence

Familiar with that feeling? Of course we’re all looking for ways to improve efficiency and, on this topic, there are some steps you can take that may help save time and streamline processes so you’re ready when it’s time and you’re not frustrated by missing documents at your closings. Don’t wait until the last minute. This seemingly simple tactic is vital to assuring you have the documents you need when you need them. If you…READ MORE

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Is Big Tech, Not Fintech, Causing The Greatest Disruption To Banking?

September 01, 2017 Due Diligence, Reduce Financial Risk

This was explored in a published report last month by the World Economic Forum. The World Economic Forum, an independent international organization and Swiss non-profit foundation that “engages the foremost political, business and other leaders of society to shape global, regional and industry agendas,” recently published their report Beyond Fintech:  A Pragmatic Assessment Of Disruptive Potential In Financial Services (download…READ MORE

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Can A Secured Party Be Liable For Failure To File Timely Terminations?

August 17, 2017 UCC, Due Diligence

According to Section 9-625 of the Uniform Commercial Code, yes. But first, let’s take a step back. In Article 9-513, the section of the Uniform Commercial Code that regards Termination Statements, the below is found under subsection 9-513(b) to address how long a secured party of record has to file a termination statement of a financing statement covering consumer goods if all obligations have been fulfilled by the debtor: 9-513(b)…READ MORE

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Can A UCC Filing Be Terminated By The Debtor?

August 10, 2017 UCC, Due Diligence, Tips

In a word, yes, as long as there is no existing obligation to the lender and one follows a specific process. The process for debtors to terminate UCC filings on themselves is provided for in the Uniform Commercial Code and can be found here in Section 9-513 of the Uniform Commercial Code. That process includes the below steps: the Debtor must send an authenticated demand to the secured party the demand must be sent to the name…READ MORE

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CEA Nor Cal Escrow Conference Recap

August 04, 2017 Event

First Corporate Solutions once again was proud and excited to exhibit at this year’s 27th annual CEA Nor Cal Escrow Conference, the Wild, Wild West of Escrow! The conference ran from July 21-22 at the Marriott in San Ramon and featured a host of excellent industry speakers and a mix of Escrow Officers from around the state. FCS hosted a booth and offered information on our products and services that support Bulk Sale Escrow Officers,…READ MORE

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First Corporate Solutions to Exhibit at the Nor-Cal Escrow Educational Conference

July 20, 2017 Event

First Corporate Solutions will exhibit at this year's 27th annual Northern California Escrow Conference, the Wild, Wild West of Escrow! The conference runs July 21-22 at the Marriott in San Ramon. FCS will host a booth and offer information on our products and services that support Bulk Sale Escrow Officers, including UCC search packages, UCC filing, title search and UCC recording and publishing. The conference will feature two days…READ MORE

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