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STRENGTH OF A LEADER
- Nation’s Largest Provider of Title Insurance and Related Services
- Fortune 500 Status - #271
- Forbes Platinum 400
- Standard & Poors “A” Rating
- Moodys “A3 Positive Outlook”
- Fitch “A”
- A.M. Best “A”
UCCPLUS INSURANCE PROTECTION
- Protects the Lender's Security Interest in Loans Secured by Non-Real Estate Article 9 Collateral
- Insures Attachment Perfection and Priority
- Protects Against Documentation Defects and Filing Office Errors and Ommissions
- Insures Validity and Enforcebility
- Provides for Defense Costs and Indemnification
- Insures Capacity/Authorization of Borrower
- Covers Fraud and Forgery
- Policy “Travels” with Loan
- Includes UCC Search & Filing Services
UCCPLUS VALUE PROPOSITION
- National Strength
- Regional Specialization
- Major-Market Transaction Expertise
- Broader Coverages
- Narrower Exclusions
- Better "Advantage Pricing"
- Easier and Faster
- All Underwriters Are Seasoned Lawyers or Paralegals
UCCPLUS COVERAGE
- Insures Attachment, Perfection and Priority of Security Interests
- Attachment: Debtor has “rights in collateral” sufficient to transfer. Lender given value. Debtor “authenticated” intent to grant security interest.
- Perfection: Lender has taken steps to “record” security interest, achieved by: 1) filing a financing statement, 2) control agreement, or 3) possession.
- Priority: Perfection “established” pursuant to Revised Article 9.
AVAILABLE FEATURES
- UCC Search and Filing Services
- Document Preparation
- Tracking for Continuation
UCCPLUS LENDER BENEFITS
- Insures Attachment, Perfection and Priority
- Multi-jurisdictional Compliance to Revised Article 9
- Covers Documentation defects and Filing Office Errors & Omissions
- Cost of Defense
- Coverage in the Event of Challenge to Lender's Security Interest
- Protects against Fraud & Forgery
- “Gap” Coverage
- Insures Both Sides of Mixed Collateral Transactions, at a Discount
- Improved Protection for Investors
- Coverage to Successor in Interest
- Post-Closing Insurance Available
- Enhances Value of Loans sold into the Secondary Market
- Often Times Reduces Loan Origination Costs
UCCPLUS COUNSEL BENEFITS
- Provides Full Coverage to Clients
- Second Set of Eyes
- Complements Legal Opinion
- Reduced Exposure for Authors of Opinion Letters
- Right of Subrogation Waived for Lenders Counsel
UCCPLUS EXCLUSIONS
- Matters Created, Suffered, Assumed by Insured
- Matters Known and Not Disclosed
- Change in Law after Date of Policy
- Failure to Comply with Applicable Law
- Incorrectness of “Schedule A” Debtor Information
- Perfection By Method Not Authorized By Article 9
UCCPLUS COMPETITIVE ADVANTAGES
- Broader Coverages, Narrower Exclusions and More Flexible "Advantage Pricing"
- Presumes Borrower's Rights In Collateral, Avoiding A Glaring Exclusion Found In Competing UCC Insurance Products
- Definition of Prior Liens Broader: "Any" vs. "Consensual"
- Fewer Complex and Costly Endorsements
- Undisclosed Defects Broader: "Knowledge" vs. "Notice"
- Indebtedness Broader: Includes Attorney Fees, Loan Costs, Etc.
- Determining Loss More Precise: When Loss of P or I Occurs
- Measurement of Loss More Precise: Established Appraiser, Commercial Reasonable Sale
- Right of Subrogation Waived with Respect to Lenders Counsel
- Claims Paid 30 Days Following Establishment of Loss
UCCPLUS INSURANCE MARKET SEGMENTS
- $1 Trillion Annual C & I
- 12,000 Lenders; 650,000 Transactions
- Loan Work Outs
- Asset Based Loans
- Mixed Collateral Transactions
- Mezzanine Financing
- Asset Backed Securitizations
RECOMMENDED TRANSACTIONS
- $2,000,000 and Greater
- Personal Property
- Multiple Borrowers
- Multi-Jurisdictional
- Complex Loan Agreement
- Mixed-Collateral Transactions
- Mezzanine Financing
- Structured Finance
- Major-Market Asset Based Loans
- Asset Backed Securitizations
PLACING AN ORDER
CONTACT THEODORE H. SPRINk, SENIOR VICE PRESIDENT AND NATIONAL MARKETING DIRECTOR:
Tel: 619-744-4410, tsprink@fnf.com
- For Additional Product Information
- To Evaluate A Potential Transaction
- For A Formal Written Proposal
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