LIBOR to SOFR: What’s Your Plan?
The time for transitioning from the London Interbank Offered Rate (LIBOR) is quickly approaching with the looming May 2021 deadline and there are things for your lending group to consider in the meantime.
Credit Reports Remove Tax Liens & Civil Judgments
Nearly two years ago to the day, the Consumer Financial Protection Bureau published some “supervisory observations” based on its vision of the implementation of the Fair Credit Reporting Act. One …
UCC Origination: Part II
The UCC lien protects lenders from authorizing additional loans that contain the same assets as collateral. It allows them to maintain their financial interests. UCCs are public record and proper …
UCC Origination: Part I
Where does a UCC originate from? Typically when a debtor (entity or individual) agrees to pledge assets to a secured party, usually a lender, for a loan or line of …
Debtor’s Name Change? What To Do
A proper financing statement must provide the name of the debtor, and there are fairly strict requirements for the sufficiency of the debtor’s name. (See UCC§§ 9-502& 9-503.) If the …
Flagging Unauthorized Termination Statements with Information Statements
Say you are a secured party with a filed financing statement. For whatever reason, you obtain a search report for filings naming your debtor. The report shows your unlapsed financing …