Risk Management Blog

If you're new to the Uniform Commercial Code (UCC), you'll need a few basic definitions before we answer that. We'll start you off with a few terms that are the building blocks of UCC search and filing procedures. Secured Transaction: This is a loan in which the lender acquires a security interest in collateral that belongs to the debtor. Security Interest: This is a lender's claim to collateral that a debtor has provided for a loan.… >> READ MORE

UCC searching and filing service providers go to great lengths to keep their customers’ data secure. Technology and in-house procedures provide safeguards to keep your data protected from outside sources. Since service providers, along with state and county filing offices, are the gatekeepers of public records containing transactional information, this is a good thing. The nature of the Uniform Commercial Code, however, exposes an important… >> READ MORE

Expert Tips on Lien Monitoring Programs The concept behind lien monitoring programs is that the sooner a creditor knows about a lien, the sooner they can act to protect their interests. These programs run updated interval searches on debtor names to check for any new filing activity, and then provide timely alerts to a creditor regarding potential threats. What follows is an overview of the various lien types creditors tend to include… >> READ MORE

Are you a Bulk Sale Escrow Officer? Then this blog post, like last week’s post, is for you! We’ve been supporting Escrow Officers handling bulk sales for close to a quarter century, and over that period we’ve learned more than just a few things from our friends in the industry. In today’s blog post we share a few more of the tips we’ve learned over the years. Tip#1: ‘Reading’ Your UCC Search Report Review Search Parameters… >> READ MORE

So you have a signed security agreement, you’ve perfected your security interest with a first position UCC filing on your debtor, and you’re utilizing one or more post-filing monitoring services that search for and report events that can prime your perfected security interest. But there’s still more to do.   Depending on the situation, your UCC1 may require amendments to the originally filed document. These changes are introduced… >> READ MORE

Today, more than ever, lenders are focused on minimizing their risks when entering a financial transaction. As pandemic impacts continue to mitigate, many financial institutions are now reducing their risk forecast for loan defaults. The upbeat sentiments are welcome but the times remain unprecedented, and uncertainty remains on what lies ahead. Two key components in the lenders’ due diligence process when entering a transaction… >> READ MORE

Many agreements, such as contract and loan agreements, require the appointment of a Registered Agent to receive Service of Process or a notice from one party to another, and to deliver the documents to the various parties as soon as possible. Service of Process under a loan agreement and other legal contracts are critical correspondence that should be handled by a professional Registered Agent to ensure the documents are expeditiously delivered… >> READ MORE

In practice, there are some significant advantages to enlisting an outside party to accept service of process and other legal and tax documents on behalf of your business. You could enlist the help of registered agent services if a trusted or senior employee is absent for some reason. So what does your Registered Agent do for you and why do you need one? Say for example your trusted employee is out of the office on a day that a process… >> READ MORE

Is your UCC portfolio growing? As it grows are your UCC management processes growing with it? Can your current solutions scale up to support your success? These are questions and challenges successful lending institutions face as they grow and expand. Solutions that made sense before are perhaps no longer optimal. Maybe UCC filing directly with the Secretary of State made sense when your portfolio was in only one state, but managing accounts… >> READ MORE

Most of us have heard that a large number of businesses choose to file their organizing paperwork in the State of Delaware. In fact, more than half of the corporations that make up the Fortune 500 are incorporated in Delaware. Why is that? Easy and Affordable The State of Delaware makes it easy and affordable to set up shop. The fees for filing organizing paperwork in the state are low compared to most other states and businesses that… >> READ MORE