Credit Evaluation School - May 2023

Internal Use Only

UCC Set of rules that help govern U.S. business laws on commercial transactions •Start with UCC search for previous lienholders UCC – 1 filings typically happen when loan is originated •Includes creditor’s name & address, debtor’s name & address, and collateral description

Internal Use Only

UCC UCC liens against specific collateral or blanket lien – 5-year terms •After, lender must renew the lien if loan is still active

UCC – 1: UCC is filed with the state & the county where property is located