One of the bigger pain points faced by lenders is conducting lien searches and making UCC filings across different jurisdictions. As no two snowflakes are ever the same, so it is with state and county filing rules and requirements. What works here won’t suffice over there. Naturally, keeping track of all these various rules and requirements causes frustration, headaches, and lost production for multi-jurisdictional lenders. It also causes confusion, and that can lead to costly errors and mistakes no lender can afford.
One lender has found the answer. A single-source solution has greatly simplified the lender’s workflow, integrates with the lender’s other systems, and has proven easy for its staff to use. Furthermore, the lender reports improved search access to filings from all state and county jurisdictions it does business in and UCC filing accuracy has increased. Accurate filings have benefited the lender’s risk mitigation efforts, reducing the chances it could find its liens unperfected.
A new case study from Lien Solutions examines this lender’s success adopting a comprehensive, Web-based lien management application. Through this real-life example, you’ll learn the problems that plagued Farm Credit New Mexico (FCNM), such as:
- Tracking varying UCC search and filing requirements among numerous state and county entities
- Keeping workflow smooth and efficient
- Accessing documents in a timely manner
- Ensuring accuracy in searches and filings
- Integrating differing and sometimes incompatible technologies
FCNM sought an outside partner it could trust to give it sound advice and a comprehensive platform to meet its unique needs in a cost-effective and efficient way. They sought a platform that would be powerful, easy to use, and work well with its existing systems and workflow. Most important, accuracy must be maintained.
Read about FCNM's experience, in our case study.