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Risk Management Blog

UCC & Corporate Due Diligence

Resource Guide for Legal and Financial Professionals

What should I do if I accidentally let my UCC1 Financing Statement lapse?

UCC, Tips Something

A UCC1 financing statement is effective for a period of five years. A record that is not continued before its lapse date will cease to be effective, costing the secured party their perfected status and perhaps their priority position to collect. Once a financing statement has lapsed, it cannot be revived. If the underlying security agreement endures, a secured party should work with their legal or risk management department to determine… >> READ MORE


Tired of Slow UCC and Corporate Document Processing Times?

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As the U.S struggles toward economic recovery, most local governments are really feeling the pinch. State and county-level governments face overwhelming budget shortfalls, dramatically impacting their ability to deliver timely public services. These budget woes often translate into slowed turn around times for public record information requests and document filings. In this blog post, we will discuss three strategies for getting your hands… >> READ MORE


Latest Court Decision Highlights the Value of UCC Lien Monitoring Service

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The US Court of Appeals for the Second Circuit issued a decision last week that may affect how secured parties authorize third parties to terminate financing statements after a mistakenly authorized UCC termination statement cost the secured party $1.5 billion. This decision underscores the value of UCC lien monitoring services: where secured parties can monitor their own UCC’s for unauthorized or accidental terminations. Also,… >> READ MORE


Resources – Secretary of State Links

UCC, Corporate Something

We are building resources for you!  This week we have added web-links to all the Secretary of State offices under our Resources page.  Much like our Business Entity Search webpage from last week, you do not have to conduct multiple searches, or websites to find what you need.  We have it all on one page. Please let us know what government agencies you search most so that we can prioritize adding them. You may also contact our Legal… >> READ MORE


Did You Know a Judgment Lien Can Potentially Prime Your Perfected Security Interest?

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It’s not common knowledge, common in the way everyone knows how a Federal tax lien can prime a perfected security interest. But it’s true. Check out this article from Pahl McCay’s Catherine Robertson discussing the subject. Her final recommendation can be found at the end of her article, “we recommend you maintain a monitoring service for lien filings against your debtors.” The critical aspect here is that the monitoring… >> READ MORE


Tips To Determine Which Party Names To Search When Lien Searching

UCC, Due Diligence, Reduce Financial Risk, Tips Something

Searching the correct party and correct legal name is imperative when coordinating due diligence search efforts. It is important to search all names under which liens could be filed. This may seem simple and obvious, but keep in mind that liens, particularly involuntary liens like federal tax liens and judgment liens, could be filed under business names, individual names, aliases, nicknames, or even fictitious business names. So, how… >> READ MORE


Tips for “Reading” Your UCC Search Report

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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


Tips For UCC Due Diligence Planning For 2016

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With the holiday season upon us, end of year deadlines and commitments drive activity. So much still to do! One of the to dos we all have is to make our plans for the next year. We review systems and solutions and processes and procedures with an eye on fixing any breakdowns that have been experienced and determining if any changes need to be made. When it comes to evaluating your UCC management, you need a UCC service partner that supports… >> READ MORE


Collateralized Loan Risk Mitigation – API for UCC

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The pandemic has caused much uncertainty in the lending ecosystem and will continue to do so since most industry experts expect an uptick in loan defaults. Today, more than ever, lenders are focused on minimizing their risks when entering a financial transaction. Two key components in the lenders’ due diligence process when entering a transaction are conducting consensual and non-consensual lien searches, and filing a UCC-1 against… >> READ MORE


Reduce UCC Filing Errors with an API for UCC

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Reduce UCC filing errors and streamline UCC processes while you improve compliance and accuracy - all at the same time. Sound good? You can do it with API for UCC. API for UCC allows you to improve compliance and accuracy while at the same time easing workload. It frees up valuable time for you and your staff to focus energies on other key aspects of your operation, and gives you the power to efficiently manage your growing portfolio… >> READ MORE