As a lender, you no doubt have enough data on your customers to fill several laptop computers, but are you sure it is 100 percent accurate?
Community or regional banks using an in-house Uniform Commercial Code (UCC) search program will find a landscape dotted with complexities. Dozens of companies provide this service for a fee yet working directly with secretaries of state can be a cost effective alternative. There are plenty of reasons to assume that a UCC search is fairly easy to perform.
Before you start, however, there are a few points to ponder to determine if an in-house campaign will actually save you time and money, or lead to more hassle than it’s really worth.
Download the white paper and learn how not having data that is 100 percent accurate can increase risk to your portfolio.