Risk Management Blog

In late July, the California Secretary of State’s office announced that the Business Programs Division was making a change to the way they certify documents. Instead of attaching a separate certification page, state workers began applying certification by way of a stamp on the back of the final page of a document. Many other state filing offices have recently made similar changes to their certification procedures. A certified copy used… >> READ MORE

Learning the ins and outs of lien searching can be daunting. It seems like there is so much to know! Beginning-level searchers often ask First Corporate Solutions for advice on how to conduct better searches. Here are three quick tips to help you gain confidence and hone your skills. 1. Maximize Results to Minimize Risk A good strategy for lien searching is to maximize your results in order to minimize your risk. This means, cast a wide… >> READ MORE

Last week’s blog post offers some practical ideas of ways secured parties can reduce their UCC filing costs. Continuing the conversation on ways to make cuts from due diligence spending without increasing risk, this week we will answer question, “How can I reduce my costs for lien searching?” Self-search Much of the price associated with lien searching is the cost of labor. Working with an offline service provider can inflate due… >> READ MORE

As public records professionals, much of the work we do here at First Corporate Solutions deals with the Uniform Commercial Code (UCC). This month we have decided to give the code its due. We are putting the Uniform Commercial Code in the spotlight by naming May UCC Month! Each Friday we will publish a new blog post on a topic related to UCC. This week’s post provides a conceptual overview of the Uniform Commercial Code. First published… >> READ MORE

This post represents the final installment of our frequently asked questions blog series and it’s a big one. This week we will answer the question we get asked more than any other, which is, “When do I file my UCC3 Continuation Statement?” It is critical for a secured party to file timely continuations, as a lapsed filing ceases to be effective and opens the door for a subsequent filer to move into a priority position. The Uniform… >> READ MORE

FAQ Blog Series – Topic # 1 It’s a fact; public records can be confusing. Effective public records research requires the understanding of a dizzying array of codes and statutes, industry jargon and jurisdictional variances. As professionals in the field, there are certain questions that we get asked all the time. At First Corporate Solutions, we believe we fulfill a dual role of expert and educator, which is why are starting a blog… >> READ MORE

FCS service representatives are often asked to help customers determine what searches to perform as part of their pre-funding due diligence. While FCS can offer no legal advice as to what liens to search for, we are happy to share the benefits of searching for Tax Liens and Judgment Liens in addition to UCC and/or Fixture Filings. Frequently Asked Question # 2: Why should I search for Tax Liens and Judgment Liens? Determining Priority Just… >> READ MORE

In order to perfect their security interest, secured parties should file  their financing statements swiftly, on the correct debtor names and in the appropriate filing office. A diligent secured party’s efforts, however, do not end once the filing office acknowledges acceptance of their financing statement. Experienced filers know that at that point they need to initiate a post filing verification search, more commonly known as a “search… >> READ MORE

Since the uniform commercial code isn’t exactly applied uniformly throughout all the states, and due to the high volume of searching the state of Delaware, service companies get a lot of questions from people wondering what words are dropped when they do a Delaware UCC search with the Secretary of State. Thankfully, the Secretary of State’s office publishes a list to identify the words they ignore when performing UCC searches, also known… >> READ MORE

If you need to search for anything at the county level in Delaware, you only have three counties from which to choose: New Castle (northernmost), Kent (middle), and Sussex (southernmost). The Bankruptcy Court and U.S. District Court are located in the county seat of Wilmington, which is in New Castle County. Below is a handy guide for figuring out what’s located where at the county level: Recorder of Deeds: UCC/fixture filings,… >> READ MORE