PMSI for Lenders and Legal Professionals
April 19, 2019
Attorney Bennett L. Cohen of Cohen, Salk & Huvard, P.C., authored our free eBook Purchase Money Security Interests: Purchase Money Rules in Equipment and Inventory. In it you will find answers to all of your PMSI related questions including:
How is a PMSI created?
What obligations qualify as a PMSI?
Does a PMSI in inventory prime a previously perfected interest in accounts?
How do I obtain a PMSI in equipment or inventory?
Free eBook: Lien-Related Post Filing Due Diligence
April 05, 2019
UCC, Due Diligence, Lien Monitoring
As a secured party, you need to know immediately if your debtor is experiencing financial distress that could result in bankruptcy or debtor default. In this FREE eBook, we focus on lien-related post filing due diligence and what you can do as a secured party to maintain your perfected security interest. In it, you will find post filing due diligence insights regarding the below topics.
Top 5 mistakes to avoid on UCC Financing Statements
We’re Exhibiting At The 2019 Factoring Conference In San Diego!
March 28, 2019
First Corporate Solutions is exhibiting our UCC searching, filing, monitoring and API solutions at the International Factoring Association Conference April 3-6 in San Diego, CA!
Why Factors Choose FCS Lien Monitoring & UCC Solutions
IFA Preferred Vendor - 10% Off State & County Lien Monitoring for MembersSearch methodology that uncovers & reports name variationsDirect Data Results from State & County…READ MORE
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
Are All API For UCC Alike?
February 22, 2019
UCC, Due Diligence, Reduce Financial Risk
In a word, no.
The emergence of API for UCC with its increased efficiency and enhanced compliance capability has already occurred and the implementation is spreading. UCC data and portfolio management providers have moved quickly to develop API for UCC and it is now another technology driven differentiator added to their UCC due diligence packages.
Much like how UCC portfolio managers and search engines vary in effectiveness and efficiency,…READ MORE
Find Missing Liens Using Broad-Based Search Logic
February 08, 2019
UCC, Online UCC System, Reduce Financial Risk
You have many options to perform a UCC lien search. There are certified searches that come directly from the filing office, state direct database searches that are available on a state’s website, and proprietary search systems that private service companies build and maintain. One of the primary benefits of using the proprietary search system of a service company is the use of broad-based search logic.
What is broad-based name searching?
Equipment Finance and PMSI
February 01, 2019
UCC, Online UCC System, Due Diligence
Equipment finance or leasing is a lending type that specializes in lending on specific collateral. These companies tend to specialize in financing industries like farm equipment, medical and dental equipment, freight, and other industrial equipment.
One product that is unique to this industry is purchase money security interest packages, or PMSI. A PMSI filing will allow a lender to take a priority position on a specific piece of equipment…READ MORE