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Risk Management Blog

UCC & Corporate Due Diligence

Resource Guide for Legal and Financial Professionals

PMSI for Lenders and Legal Professionals

April 19, 2019 UCC Something

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? …READ MORE

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Free eBook: Lien-Related Post Filing Due Diligence

April 05, 2019 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 …READ MORE

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Equipment Finance & Purchase Money Security Interest (PMSI)

March 14, 2019 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 a…READ MORE

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State Only Lien Monitoring? It’s Risky

March 01, 2019 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

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Are All API For UCC Alike?

February 22, 2019 UCC, Due Diligence, Reduce Financial Risk Something

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

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Find Missing Liens Using Broad-Based Search Logic

February 08, 2019 UCC, Online UCC System, Reduce Financial Risk Something

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? Search…READ MORE

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Equipment Finance and PMSI

February 01, 2019 UCC, Online UCC System, Due Diligence Something

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

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New Years Resolutions? Improve UCC Due Diligence

December 13, 2018 UCC, Due Diligence, Tips Something

2019 is approaching and New Years resolutions are on everyone's mind.  Streamlining and improving your UCC due diligence strategies should be on your list!  Have you considered adapting new strategies to improve your UCC Due Diligence? Evaluating your UCC management can be a complicated process; as a UCC service partner we support our clients responsibility to reduce risks, improve workflow efficiency and cut costs while maintaining accuracy. Experiencing…READ MORE

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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

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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

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