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Securing collateral is a key step in the lending process, but keeping track of all the UCC filings tied to your portfolio can be overwhelming. Filing is the first step, but maintaining your position throughout the term is critical for risk management. Passkey Partner Wolters Kluwer Lien Solutions automates this complex and sometimes tedious process through iLien, its comprehensive, web-based lien management platform.
iLien has proven its effectiveness at most Farm Credit associations, which use it to:
But more than a technology provider, iLien is a strong partner to its clients, responding to changing needs even as they evolve.
In 2020, Farm Credit clients transitioning to remote operations grew concerned that the new operating environment might cause confusion and filing continuances would be missed, or that the disruption might lead to small data entry errors that could impact lien positions.
“We knew our Farm Credit clients needed to focus on loaning money and protecting their own assets, but were facing the unprecedented challenge of working remotely,” says Mary Beth Sommer with Lien Solutions. “We stepped in to perform bulk analytics to identify any data discrepancies that needed correction and completed bulk continuations so lien positions were retained.”
This responsive, personalized service is supported by industry leading security protocols to protect client data and an experienced implementation team that can typically complete the portfolio review, analysis and data conversion in 5-7 business days.
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