Risk Management Blog

This week we introduce guest blogger and attorney Shelley Gould from the Law Offices of David B. Bloom. She delves into what an interpleader action is and how escrow officers can utilize this tool and why. Today’s post is the second and final part of the article. BENEFITS OF FILING AN INTERPLEADER ACTION There are multiple benefits to instituting an interpleader action. Many times escrow hasn’t closed and the Escrow holder is faced… >> READ MORE

Do You File FBN Statements In California? California Senate Bill 1467 amended Business and Professions Code sections 17901, 17913, 17914 and 17916 and went into effect January 1, 2015. With the implementation of this bill most counties in California revised their Fictitious Business Name Statement forms and also added some supplemental forms to meet the Senate Bill’s requirements. An issue has arisen with the implementation of the… >> READ MORE

Effective January 1, 2016, individual debtor names listed on new UCC-1 filings will need to match the name found on their Oregon driver’s license or Oregon-issued state ID card. This requirement, signed into law by Governor Kate Brown on June 22, 2015, will also apply to the next continuation for existing UCC filings. Currently, the name a person “is commonly known by,” also referred to as Alternative B, is acceptable for naming… >> READ MORE

If you are looking to improve your UCC due diligence processes and resources this New Year, here’s your opportunity to explore some solutions available to you online. Check out the list below where we answer questions and provide information to help you choose the online UCC system that best suits your needs. Looking to consolidate your UCC portfolio management into one comprehensive tool? Here are 3 tips to help you choose the right… >> READ MORE

Last month, First Corporate Solutions began a four-part blog series devoted to providing our readers with tips for improving the turn-around time for lien searches. So far, we have discussed turning to online solutions for state-level UCC and lien searches, providing as much information as possible to vendors for manual search efforts, and for multi-search orders, instructing vendors to forward results as they are completed for each… >> READ MORE

Regular readers of the First Corporate Solutions blog may recall that we posted a special alert a few weeks ago regarding California Senate Bill 12 (SB 12). As a refresher, SB 12 seeks to amend significant sections of the state Business and Professions Code, the Civil Procedure Code, the Revenue and Taxation Code and Article 6 of the Uniform Commercial Code. If passed, SB 12 will repeal the California Bulk Sales Law in its entirety. In… >> READ MORE

[Updated: 6/5/2012] There is news and updates to report regarding SB12 and the efforts being made to defeat it. Please see the letter linked here, composed by the Escrow Institute’s Tim Egan and other committee members listed below, which voices our collective concerns. Larry Shewfelt Donna GradyDiane Boudreau-Tschetter Nancy Silberberg Beulah Stidham Patsy Mercado PJ Garcia Further, they have an SB 12 conference call… >> READ MORE

Over the last few years, there has been a proliferation of scams that promise to eliminate debts, repair your credit score, or protect your home from foreclosure. Here at First Corporate Solutions, we have been fielding a lot of calls recently regarding one scam, in particular, the Redemption Process. This week, we thought we would take to the blog to offer some words of caution regarding the Redemption Process. Redemption Process holds… >> READ MORE

We are pleased to announce that we have added  Rhode Island and Mississippi  to our online search system. Active users can log on now to www.ficoso.com and search our reliable state-direct Rhode Island (UCC) and Mississippi (UCC, Federal Tax Lien, Farm Lien) data complemented by an expansive library of clear, downloadable document images. Utilize our broad-based search engine to locate liens by debtor name or file number, then use… >> READ MORE

For the next several weeks, we welcome back guest author, attorney, Bennett L. Cohen to the FCS blog! Read on for the first installment in his multi-part blog series addressing the intricacies of UCC Termination Statements Reviewing UCC terminations in a UCC search is often viewed by some secured parties as a mundane administrative task. Quite to the contrary, UCC terminations are an essential and important component of a financing… >> READ MORE