Risk Management Blog

Having a rapid turn-around time for your pre-funding lien searches is important. Borrowers are looking for quick funding solutions and slow turn-around time for lien searches can extend your funding cycle, frustrating prospective clients and tarnishing your reputation in the industry. Earlier this month, First Corporate Solutions began a four-part blog series devoted to providing our readers with tips for improving the turn-around time for… >> READ MORE

Slow turn around for lien searches can be frustrating and cause problems for lenders who are competing for big deals. Now more than ever, borrowers are looking for quick funding solutions. Slow turn-around time for lien searches can extend your funding cycle and discourage prospective new clients. Earlier this month, First Corporate Solutions began a four-part blog series devoted to providing our readers with tips for improving the turn-around… >> READ MORE

The final installment in our Greatest Hits blog series covers state certified UCC searches, aka UCC11s. There are times when you might want to request a certified search, they do serve a purpose. But, because of their oftentimes narrow search logics which can inhibit a searchers ability to uncover name variations, thorough due diligence typically requires utilizing a broad-based search solution that is designed to uncover and include… >> READ MORE

Figuring out how to describe the collateral on a UCC Financing Statement to best protect your interests can be confusing. In fact, one of the most common questions FCS hears from customers and prospects is "What collateral language should I use on my UCC filing to make sure we’re protected?" Bradley B. Clark answers that question and more in this webinar presentation. >> READ MORE

The recession’s impact on the lending community has prompted many UCC filers to take a good hard look at their budgets in search of meaningful ways to reduce spending and increase profitability. As a result, First Corporate Solutions has seen a rise in the question, “How can I reduce my UCC filing costs?” When you think about it, this is not an easy question to answer. UCC filers face the tough task of finding ways to cut costs… >> READ MORE

Today we dip into our past to revisit a key and popular topic here at the ficoso blog:  the importance of broad based UCC and lien searching. Give it a read and share your thoughts and experiences below. Broad Based UCC and Lien Name Searching: What is it? Why is it Important? Various options exist to fulfill UCC and lien search requirements. Certified searches come directly from the filing office, state direct database searches are… >> READ MORE

Do risks to your perfected security interest end with Federal tax liens and pre-lien IRS related threats? The simple answer is No. Some would seem to have you believe the opposite is true, but it’s not. For example, last week we discussed how judgment liens can prime a previously perfected security interest. If you missed that post you can check it out here. But that’s not all. In some states, State tax liens can also potentially… >> READ MORE

This week on the blog we share some important news from state filing offices. Please note the following issues may impact your ability to file and retrieve UCC and Corporate documents. Kentucky Kentucky state offices will take the final mandatory furlough day for this fiscal year on Friday, May 27. All Kentucky state offices will be closed for business on this date. Online services will remain available during the office closures. South… >> READ MORE

Across the nation, state and county-level governments face overwhelming budget shortfalls, dramatically impacting their ability to deliver public services. We learned this week that things are particularly bad in the state of Minnesota. Due to a statewide budget crisis, the Minnesota Secretary of State’s office is facing a potential closure. The Minnesota State Legislature adjourned last month without appropriating money to fund state… >> READ MORE

Did you know that a UCC search might show UCCs filed beyond the search’s through date? It’s true! Read on to find out why. At the state filing offices, UCC filings are accepted for filing and entered into the public record. Once every filing from a certain date is posted into the index, the state will advance their through date. A through date is the state’s way of saying, “We can guarantee that everything that was submitted to… >> READ MORE