Risk Management Blog

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

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 in specific industries and often tend to be manufacturers (farm equipment, medical and dental equipment, freight, industrial equipment, etc.). With this being said, there are options such as buying used equipment instead of having to take them out on finance. Especially if… >> READ MORE

To build a proprietary online search system, a service company must first purchase UCC and lien data. Many searchers are unaware that the source of a system’s online data can have a tremendous impact on their final results report. This article discusses some key differences between state direct and third party UCC and lien data. In many states, the state filing office makes their UCC and lien data available for purchase. In these states,… >> READ MORE

Over the last few weeks, we’ve blogged about the solar installation boom and the options available to solar financiers to perfect a security interest on their solar panel installations. The filing of fixtures is one such option and utilized actively when perfecting residential solar panel installs. For fixture filings, a legal description of the property is needed on the financing statement to disclose where the fixture is to be. Fixture… >> 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 good thing. The nature of the Uniform Commercial Code, however, exposes an important… >> READ MORE

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… >> READ MORE

A search to reflect, also referred to as a post-filing verification search, is a search of the UCC records of the office where you filed after your UCC filing has posted to the index. It confirms proper indexing of a UCC filing and verifies its priority position relative to other creditors, important benefits of a search to reflect. When to perform a search to reflect on your UCC is key. Since you have to wait for the filing index date… >> READ MORE

The amount of liens filed in a given state’s filing office can number in the millions making accuracy, and the ability to uncover name variations,  paramount when analyzing search results. Each individual Secretary of State filing office has a set of rules called “standard search logic” that determines what search results will show for a given search. Here’s the official definition: Standard Search Logic: The search logic used… >> READ MORE

Your growing UCC portfolio is a sign of your success. To support it, perhaps it’s time to consider upgrading your UCC Portfolio Manager by installing an API for UCC, an enhancement that consolidates your UCC management into one single system. Designed specifically to streamline and simplify your UCC processes and scale with your success, API for UCC gives you the power to manage your growing UCC portfolio efficiently while freeing you… >> READ MORE

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