Overview
Today’s highly volatile market conditions means maintaining lien perfection is even more critical. Lien perfection is critical for banks to safeguard their claim on the secured asset. Yet even under the best market conditions, lien perfection represents a complicated, labor-intensive process that, if not properly executed, puts lenders at risk of losing priority status.
A sound lien perfection strategy begins with achieving real-time visibility across the entire portfolio, gaining reliable data on which to act, and the ability to promptly remediate issues when they arise. These advantages can be realized by lenders who implement monitoring, reporting and automation solutions that help them effectively manage the lien perfection process.
The optimal solutions can help lower risk, and increase rewards
With the right solutions, banks can gain visibility into their portfolios, improve their decision-making capabilities based on up-to-date data and analytics, and bolster efficiency and productivity. These tools can give lenders greater confidence in the health of their portfolio, helping them to:
- Improve accuracy in recording and maintaining liens
- Maximize efficiency
- Reduce risk of errors
- Streamline processes
- Improve compliance with regulatory requirements
In this paper, we will outline the importance of maintaining visibility when protecting and perfecting liens as risks continue to emerge and evolve.
