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

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