Welcome to the new Lien Solutions blog – insights and resources to help professionals reduce risk and shape the future of their business. You’ll find articles on thought leadership, practical tips, and an exchange of ideas that drive innovation and better outcomes.
In most UCC-related activity, there are four main components at play: The borrower, the lender, the collateral, and the jurisdiction. Simple and universal, except when it’s not.
In 2013, the 2010 Amendments to Article 9 took effect. Among other provisions, the amendments provide that a driver’s license (or state-issued I.D.) is the correct source for determining an individual debtor’s name for a financing statement. With the idea of there being an exception for everything in mind, a recent court case was faced with the question of what to do if the driver’s license has two names on it.
A recent Texas court case once more brought to light the significance of getting the name of a debtor correct on an agricultural lien UCC filing. The decision, which came in December of 2017, found that information added to the debtor’s name rendered financing statement seriously misleading.
Blockchain technology has a lot of promise to streamline and even revolutionize the processes in various financial applications.
Learn what changes took effect on December 1, 2017, to the Federal Rules of Bankruptcy Procedure.
Repossession affidavits are a part of recovering on a defaulted auto loan, yet they’re rarely discussed. Here’s what you need to know.
Straddling the line between present and future is never easy. Fintech’s role in the future of mortgage lending requires our attention to stay on firm footing.
Imagine you are an asset-based lender. After the loan closes you have constant visibility of the underlying asset (a tractor, for example) throughout its lifecycle. You are able to track the value of the asset and automatically feed it into your loan portfolio that constantly analyzes risk. If the value falls below a threshold the system automatically triggers previously agreed-upon adjustments in the contract minimizing the risk to your lending portfolio.
Lenders have been getting short-changed from motor vehicle title service providers who have been slow to understand the unique needs of lenders in the titling process.