Risk Management Blog

Under Revised Article 9 of the Uniform Commercial Code, secured parties are permitted to pre-file UCC Financing Statements, meaning they may file their UCC document before official execution of the security agreement provided the secured party receives proper authorization from the borrower. This week, we welcome Steve Capper of Flexible Funding as a guest author on the FCS blog. In this piece, Steve offers some words of caution for borrowers… >> READ MORE

Many small businesses have an internal department that handles all of their public records search and filing needs. As businesses grow and due diligence requirements get more complex, most decide to enlist the help of a private service company to carry out their public records checks and requests. Deciding which company to entrust with your business can be a tough choice. Between nationwide and local vendors, there are hundreds (if not… >> READ MORE

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. Reliability 1. Does your search company keep their word? Do you get your reports when promised? 2. Do they have errors & omissions insurance? 3. How often do they communicate with you? If your work will be delayed, do they tell you before… >> READ MORE

FCS will host an exhibit at this year's disco themed "Don't Stop Believing" CEA conference, as well as sponsoring and presenting company news and information at the bulk sale session. The conference runs October 23-25 at the Hilton in Costa Mesa, with the bulk sale presentation taking place Saturday at 8:30AM. FCS will host booth #15 and will offer information on the available products and services, conference swag and a prize drawing. The… >> READ MORE

As was the case this week, next week the Delaware Division of Corporations will continue to maintain operating hours of 8am EST to 5pm EST Monday through Friday, September 14 through September 18. This will allow for overnight maintenance and troubleshooting after the major computer system overhaul they implemented over Labor Day Weekend. If you have any questions, please feel free to contact First Corporate Solutions at 800.406.1577. –… >> READ MORE

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