Single Extra Space Creates Seriously Misleading UCC Debtor Naming Error
September 13, 2018
UCC, Online UCC System, Due Diligence, Revised Article 9, Reduce Financial Risk, Tips Something
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
Frustrated By Missing Documents At Your Closings?
September 06, 2018
UCC, Corporate, Due Diligence Something
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
Three More Tips For Bulk Sale Escrow Officers In California
June 21, 2018
UCC, Due Diligence, Tips Something
With the Norcal Escrow Conference fast approaching, here's a repost of three MORE handy tips for Bulk Sale Escrow Officers in California.
We’ve been supporting Escrow Officers handling bulk sales for a quarter century, and over that period we’ve learned more than just a few things from our friends in the industry, and in this blog post we share three more tips for Bulk Sale Escrow Officers in California that we’ve learned and their…READ MORE
Secured Creditors and Unsecured Creditors: What’s the Difference?
June 14, 2018
UCC, Online UCC System, Due Diligence, Reduce Financial Risk Something
There are secured creditors and unsecured creditors. But what is the difference between secured creditors and unsecured creditors?
Secured Creditors are creditors that hold a lien on its debtor’s property, whether that property is real property or personal property. The lien gives the secured creditor an interest in its debtor’s property that provides for the property to be sold to satisfy the debt in cases of default. The secured…READ MORE
Free eBook: Ultimate Guide to Lien-Related Post Filing Due Diligence
June 07, 2018
UCC, Due Diligence, Lien Monitoring Something
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
Three Tips For Bulk Sale Escrow Officers In California
May 31, 2018
UCC, Due Diligence, Tips Something
With the Norcal Escrow Conference fast approaching, here's a repost of three handy tips for Bulk Sale Escrow Officers in California.
We’ve been supporting Escrow Officers handling bulk sales for a quarter century, and over that period we’ve learned more than just a few things from our friends in the industry, and in this blog post we share three tips for Bulk Sale Escrow Officers in California that we’ve learned and their importance.
UCC Secured Party Representative Service – Explained
May 24, 2018
UCC, Online UCC System, Revised Article 9 Something
UCC Secured Party Representative Service provides protection for secured lenders by using a representative’s name (instead of their own) in the Secured Party box on UCC Financing Statements.
Under Revised Article 9, UCC Section 9-502(a)(2), a financing statement must provide the name of the secured party or representative of the secured party. The Secured Party Representative Service key aspect is that the code allows “a representative”…READ MORE
Lien Monitoring Only at the State? It’s Risky
April 19, 2018
UCC, Due Diligence, Reduce Financial Risk, Lien Monitoring Something
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
Tips To End Billing Headaches With Your Service Company
April 12, 2018
UCC, Corporate, Tips Something
Ever have a partnership with a service company, one that is knowledgeable and able in their solutions, BUT there is still a problem? The service company’s billing system and accounting procedures are a big headache.
It gets tiring and frustrating to pay your invoices on time, remit the proper amount to the proper office, yet still end up getting hassled by your service company because they processed your payments incorrectly. You are…READ MORE
Equipment Finance and PMSI: A Unique Relationship
April 05, 2018
UCC, Online UCC System, Due Diligence Something
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…READ MORE