Listen Up UCC Filers-Protect Your Customer List From Competitors
March 03, 2017
UCC, Reduce Financial Risk
Does it seem sometimes seem like your competitors have a copy of your customer list? Well, they just might.
“No way!” you say. “How did that happen?”
It’s easier than you might think. Every time a secured party perfects a security interest by filing a financing statement, one result of that filing is to reveal the secured party’s debtor, its customer, in the public record.
And, just like one can search a Secretary of…READ MORE
Tips To Maintain Your Perfected Security Interest
February 24, 2017
Reduce Financial Risk, Tips, Lien Monitoring
Considering all the effort and resources you put into qualifying your debtors and perfecting your security interests, it's good to know there are some excellent tools you can utilize to help maintain that priority and make your efforts pay off.
Why go to all the trouble to investigate a potential new debtor’s credit worthiness, and decide to perfect your security interest by filing a Financing Statement in the correct jurisdiction, if…READ MORE
Uninsured Title Products For Lenders—When Title Insurance Is NOT Needed
February 16, 2017
Due Diligence, Title Related Topics
As a lender, do you always need an insured title product with a corresponding title policy? Do you always need to pay for that premium?
The answer is: it depends.
But in which situations might a title policy be 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 previously issued policy…READ MORE
API For UCC — Enhance Compliance And Streamline Workflows
February 10, 2017
UCC, Due Diligence, Reduce Financial Risk
Are you a secured party? Want to improve and streamline your UCC perfection process?
Now you can. Enhance your compliance practices by eliminating the need to re-enter UCC information, and streamline your workflow by minimizing keystrokes, all at the same time.
With Direct B2B Interfaces for UCC transactions…API for UCC. This technology allows you to connect your business line software directly to reliable, fast, and accurate…READ MORE
Missing Liens In Your Search Results? The Cure May Be Broad-Based Debtor Name Searches
February 02, 2017
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. A while back, First Corporate Solutions published a blog series on evaluating state search options in which we discussed the benefits and drawbacks of each of these…READ MORE
Managing Secretary Of State–Annual Report Compliance For “Good Standing” Status
January 26, 2017
Do you know if your entity, or portfolio, has filed the latest Secretary of State Annual Reports? How do you know if you have missed a filing? Or if the state cashed your check but did not actually record the filing?
Once your entity has filed with one or more Secretary of State offices, you have created a growing obligation to keep basic pieces of public data current though annual/biennial filings. These Annual Reports seem simple…READ MORE
Independent Directors, Managers, And Springing Members: What Are They?
January 19, 2017
Lenders may require independent personnel and independent manager to serve on boards of single purpose entities (SPE’s). SPE’s are created to protect assets in large real estate transactions. Independent personnel also play a critical role for an entity in distress.
An Independent Director is a member of the board of directors of a company who does not form part of the executive management team. They are not employees of the…READ MORE
Leasing Space For Your Business? Be Sure You Do This One Thing!
January 12, 2017
Title Related Topics
You’re going to do it! You’re buying that business, or you’re starting a new one, and you need a location. You do your research, you measure the pros and cons and apply it to your situation, and determine (let’s say) that leasing a space for your business is the way to go.
We’ve all heard horrible stories of tenants signing leases they have regretted, perhaps rushing in to something before fully vetting the opportunity.
Top Ten Things To Look For In A Title Search Company
January 05, 2017
Tips, Title Related Topics
Creating a title report is a complex and detailed process. It requires experience and industry expertise to craft a comprehensive report that you can trust to assist you in making decisions. Here's a look at the top ten things to consider when you choose a title search company to help you.
Does your search company keep their word? Do you get your reports when promised?
Do they have errors & omissions insurance?
Tips For UCC Due Diligence Planning 2017
December 29, 2016
With the New Year upon us, end of year deadlines and commitments drive activity. So much still to do! One of the to dos we all have is to make our plans for the next year. We review systems and solutions, processes and procedures, with an eye on fixing any breakdowns that have been experienced and on determining if any changes need to be made.
When it comes to evaluating your UCC management, you need a UCC service partner that supports…READ MORE