Risk Management Blog

In order to fend of challenges to their priority position, UCC filers must keep their filing information accurate and up-to-date. This is accomplished by filing the appropriate UCC3 Statement. There are five types of UCC3 Filings: Continuations extend the term for a Financing Statement by an additional five years Party Amendments add, delete or change debtor or secured party information Collateral Amendments add, delete or restate… >> READ MORE

We are pleased to announce that we have added Iowa to our online search system. Active users can log on now to www.ficoso.com and search our reliable state-direct Iowa 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 our unique sorting and filtering features to create a customized search result tailor made… >> READ MORE

You can, but keep in mind that according to the Uniform Commercial Code, filing under a trade name (dba) alone is not sufficient to perfect a security interest. In order to perfect, a secured party must file under the legal name of the debtor; a “dba” name does not constitute a legal name. A secured party may file under both the legal name and the trade name if they wish. Please refer to our previous blog post, Omit “dba” Notation… >> READ MORE

It's time to refresh your UCC knowledge! Join us this week for a practical overview of common UCC filing mistakes. An Insider's Guide to Avoid UCC Filing Mistakes Duration: 30 Minutes What Will You Learn? Join us for a practical overview of common mistakes that occur on UCC filings and tips for how to avoid them. Designed for beginning-level UCC filers, this 30 minute presentation discusses errors that result in rejection as well… >> READ MORE

Some filing offices will place a file number stamp or sticker on each page of a filed instrument, though most do not. Ordering a Search to Reflect to include copies of filed documents can confirm that the attachment pages were filed along with the face page. Questions? Contact First Corporate Solutions Free Reference Materials Visit our free reference library to download reference guides and other resource materials on UCC &… >> READ MORE

It's time to refresh your UCC knowledge! Join us this week for a presentation on perfecting and maintaining a security interest by attorney Michael Weissman. Perfecting and Maintaining a Security Interest, Traps for the Unwary Speaker: Attorney Michael Weissman What Will You Learn? This sixty-minute intermediate to advanced-level presentation exposes traps for the unwary when attempting to perfect and maintain a security interest.… >> READ MORE

It's time to refresh your lien knowledge. Join us this week to learn more about lien priority. The Basics of Lien Priority Duration: 60 Minutes Webinar Description Mastery of lien priority is critical in today’s high stakes, fast-paced world of commercial transactions. Whether you’re new to the industry or an industry veteran, you won’t want to miss this presentation by Texas attorney Bradley B. Clark on lien priority. Questions? Contact… >> READ MORE

We are delighted to announce we have expanded our online UCC and lien search system to include Arkansas, Maine, Vermont and Wyoming. Starting Monday, March 31, active users may log on to ficoso.com and search our reliable data obtained directly from the states. These new states add 1,407,279 UCC and lien documents to our online system. Use our broad-based search engine to locate liens by debtor name or file number, then use our… >> READ MORE

The simple purpose of UCC and lien searching is to minimize your lending risk by accurately informing your lending decisions. UCC and lien searching is not a black or white process, however; the quality of your search results plays a essential role in helping you to determine that risk. If for any reason your search results are inaccurate or incomplete, your effectiveness in mitigating your lending risk is diminished. Read on for tips… >> READ MORE

In honor of the 2014 Factoring Conference, we compiled some of our favorite tips on choosing a lien monitoring solution, a service that all asset-based lenders and factors need to help mitigate risk. Here is a quick ‘stress test’ you can give your lien monitoring approach to see if it’s up to scratch. Does your lien monitoring program… Quickly Alert You of Federal Tax Lien Filings? Many creditors consider Federal Tax Liens the… >> READ MORE