EAGLE9® UCC Foreclosure Notice Insurance Policy
The Foreclosure Notice Policy enables the foreclosing creditor under Part 6 of Article 9 to meet certain statutory requirements for a commercially reasonable notice. The specific notice requirements covered by the policy involve notice to secured parties and lien holders of record for either public or private sales and for acceptance of collateral in full or partial satisfaction of the obligation secured.
Why work with First American?
- First American is the only company to offer this coverage.
What do we offer?
- Coordinates proper searches and notification in order to comply with §9-611 of the UCC.
- Insures the notice list.
- Insures against inherent risks in the UCC search system such as mis-indexed financing statements and fraudulent terminations.
- Our UCC Division can run the searches and send the notification letters.
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