Risk Management Blog

First Corporate Solutions is pleased to announce the release of New Hampshire data and image library to our online UCC search system. As of Monday, May 5, 2014, active online users can log on to www.ficoso.com and search our reliable state-direct UCC and tax lien data complemented by an expansive library of clear, downloadable document images. This adds a total of 199,195 filings to our online system. The FCS online system adds value… >> READ MORE

First Corporate Solutions is pleased to announce the addition of Kansas, Montana, North Dakota, South Dakota and Nebraska UCC data and document images to our UCC library of states, available July 1st, 2015. Enjoy consistent search logic, advanced search tools, comprehensive report options, clear document images and a supporting portfolio to save and later retrieve your search reports and document images at no cost any time in the future. Log… >> READ MORE

First Corporate Solutions (FCS) began circulating newly designed customer results reports last week. The enhanced reports feature a sleek new look and more in depth reporting of findings. The updated report style is designed to communicate public records findings to our lending, legal and wholesale customers with improved clarity while maintaining the accuracy and integrity customers have come to expect from FCS. Each new report contains… >> READ MORE

First Corporate Solutions is pleased to report that on October 4, 2013, California governor Jerry Brown signed CA Assembly Bill 502, making California the latest state to enact the 2010 Amendments to Article 9 of the Uniform Commercial Code.  The new filing rules will go into effect on July 1, 2014. View a full-text copy of the bill here. In an interesting turn, California has adopted neither Alternative A nor Alternative B (read… >> READ MORE

The collateral description is a critical piece of a UCC Financing Statement. This section is where a secured party details what items the debtor has offered as collateral to secure the loan. In many cases, secured parties elect to put their collateral description on an attachment rather than within the confines of Box 4 on the UCC Financing Statement form. Attachment pages are particularly common when the transaction requires a lengthy equipment… >> READ MORE

One of the most common areas of confusion relating to public records searching has to do with the costs incurred for search requests, particularly those requests that a customer places with a private service company. The fees associated with this type of research are varied and an invoice may use terminology that is unfamiliar to those with infrequent searching needs. Herein, we offer some guidelines for what types of fees you can expect… >> READ MORE

Effective April 1, 2015, FCS registered online users will be able to experience the following system enhancements. [caption id="attachment_2679" align="aligncenter" width="961"] New Certified Search Option[/caption] New Certified Search Request Capability Added to your search results screen to provide fast and efficient ordering of certified UCC searches. Streamlined Ordering and Document Downloads Reduced number of clicks to order… >> READ MORE

In the spirit of giving this holiday season, First Corporate Solutions is again reaching out with charitable donations made possible by your continued business and partnership. A holiday tradition now at FCS, this year we will proudly donate to two deserving non-profit organizations, The Military Warriors Support Foundation and The Children’s Receiving Home of Sacramento. The Children’s Receiving Home of Sacramento As the region’s… >> 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

A UCC report will look different and may contain slightly different information depending on where the search was performed and by whom. As a result, it can be challenging to make sense of a UCC search report if you are unfamiliar with how to “read” it. Knowing that an accurate interpretation of the UCC data that is reported to you is critical to the success of your business, we offer the following tips for how to read a UCC search report. Review… >> READ MORE