Welcome to the new Lien Solutions blog – insights and resources to help professionals reduce risk and shape the future of their business. You’ll find articles on thought leadership, practical tips, and an exchange of ideas that drive innovation and better outcomes.
As we learn more about COVID-19 and its impact on individuals and businesses across the country, it’s clear the novel coronavirus is more than just a health crisis. Unfortunately, the pandemic has also created significant economic disruption for many industries and sectors, impacting organizations that are integral to the economy. Recognizing the challenges small- and medium-sized businesses face obtaining credit in this environment, the Federal Reserve (“Fed”) created the Main Street Lending Program.
While Wolters Kluwer Lien Solutions is prepared with contingency measures to support our customers through the COVID-19 situation, clients may experience delays in order processing driven by changes at the jurisdictions. Jurisdiction delays would result in an impact to the entire market, however, we will continue to do our best to mitigate any impact to […]
The process of issuing a loan is manual, lengthy, and thankless: margins for most lenders are razor-thin. Pricing—and therefore value—is often disconnected from risk. That means that cost must be squeezed out of every part of the loan process. Further, there’s just too much capital in the economy today. Consider that there are 5,000 banks […]
As a lender, “lien management” may not be your primary job task. Your specialty is helping clients solve their financial issues through loans and leases, so you might view lien management as a necessary chore, and, once the client has been approved for a loan, that’s the end of the process. Not really.
No one can predict the future, including lenders. Therefore, it is crucial to be diligent about maintaining lien perfection today. In the event that debtors default on their loans, lien perfection helps ensure that you are protected and losses can be recovered. Having clear insights into your individual debtors’ risks and across your portfolio help you maintain a healthy portfolio and reduce risk.
Understanding and managing the status of the motor vehicle liens’ portfolio can be challenging. Often times, inconsistencies or issues end up on the “Exceptions List”, that is then addressed manually by following up with the borrower, calling DMV, searching and pulling reports from multiple jurisdictions and places. Time is money, and too much of it is often wasted on this manual, tedious work. In addition, different DMVs and jurisdictions have varying levels of requirements’ complexity. With all of these variables, exceptions create a long road to perfection.
What does it take to create a long-term, successful business partnership with your customers? The kind of partnership that survives economic ups and downs and continues delivering benefits over many years, or even decades?
The presentation looks at five things that a lender simply cannot afford to miss when managing their lien portfolio. If they are addressed properly, a lender can confidently perfect their interest in a loan. McAlister Bary’s presentation will take place on Saturday, September 29, 2018 at 1:15 PM during the CBAI event held at the […]