auto continuations for liens
ComplianceFinanceSeptember 17, 2017

Greater efficiency and reduced risk with Auto Continuation

As a large, national financial institution, our client clearly understands the importance of obtaining and maintaining perfection for the assets it finances. This includes ensuring that its Uniform Commercial Code (UCC) filings are continued after five years if the life of loan exceeds that time frame. Traditionally, our client used a manual process to handle this aspect of its portfolio management. But, with the departure of the key subject matter expert, they realized that the time was right to adopt an automated process to manage these continuations (UCC-3s). That’s when the client turned to Lien Solutions to learn about ways in which Auto Continuation could help safeguard the bank’s assets.