March 3, 2017

The Value of the Five-Part Due Diligence Search

When vetting a potential borrower, it’s important that you learn everything you can about their financial history. Public record searches provide critical information about an applicant’s existing liens and other financial obligations that could affect their ability to repay debts. Additionally, these searches help you determine if a priority position to collect could be obtained
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June 13, 2016

3 Good Reasons to Include Similar Names With Your UCC Searches

When requesting a UCC search as part of a pre-funding due diligence investigation, do you ask your service provider to report filings found under similar names? What if you are self-searching using an online system, do you employ flexible searching techniques like using wildcard characters to reveal name variations? If not, you are not alone.
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May 11, 2016

Before You Ignore Those Terminated UCCs – PLEASE READ THIS!

When reviewing UCC search results as part of a pre-funding due diligence investigation, it may be your first inclination to ignore a UCC that has a termination listed, assuming that the UCC record is no longer a factor in determining priority. Before deciding to ignore any terminated UCCs that turn up on your search reports
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Is UCC E-filing is Right for Your Organization?

These days, nearly every state filing office accepts some form of electronic filing (E-filing) for UCC documents, often either through xml transmission or a fillable web form. Some states are even beginning to mandate E-filing for UCCs. Back in 2012, Colorado became the first state to require that all UCC filings be submitted electronically. Since
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March 15, 2016

The ABCs of Post-Closing Due Diligence

  After funding a deal and filing a UCC Financing Statement, it’s critical  to keep an eye out for post-closing events that could jeopardize your ability to collect. CLAS suggests following the ABCs of post-closing due diligence to protect your priority for the life of your loan. Always Perform a Search to Reflect A search
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February 18, 2016

Top Tax Lien Searching Questions – Answered!

Tax lien searching can be confusing. There are a lot of variables to consider and CLAS has found that our clients have questions. Here are answers to our most commonly asked questions on tax lien searching: Why Should I Search for Tax Liens? Before funding a deal, it is important for a lender to know about an
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October 22, 2015

A UCC Search to Reflect:  What is it?  Why do I Need it?

After filing a UCC Financing Statement or Amendment, a conscientious secured party will request a search to reflect their filing.  A search to reflect is a UCC debtor search of the office where you filed a UCC document, performed after your filing posts to the index.  UCC experts and public records professionals agree that a
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August 18, 2015

Five “Need to Know” Facts About Filing UCC Continuations

In order to maintain a healthy UCC portfolio, a secured party must carefully monitor UCC lapse dates and file timely Continuation Statements when a debtor’s financial obligation extends beyond five years. It is critical that secured parties manage this process meticulously, as a lapsed filing ceases to be effective and can cost the secured party
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