The situation with COVID-19 has evolved rapidly and has changed the way we operate and complete our day-to-day functions. As new challenges have become commonplace for lenders – whether it be remote employees, rotating system access or an influx of loan applicants from federal stimulus projects, we have you covered.
The rapid changes in the status of jurisdictions due to COVID-19 could impact jurisdictional through-dates and/or jurisdictional turnaround times in returning results. We continue to proactively update you on changes at the secretaries of state, county clerk & recording offices, register of deeds and the departments of motor vehicles (DMVs) nationwide.
Secretary of State updates – Updated July 2, 2020
County UCC and Real Property closures updates – Updated July 2, 2020
County UCC and Real Property REOPENINGS updates – Updated July 2, 2020
DMV updates – Updated July 2, 2020
We know that the current environment has greatly increased risk levels to lenders. We’re here to help navigate this challenging situation and protect your lending portfolio and security interests.
Let’s address your challenges together. We can be reached at (800) 833-5778 Monday-Friday, 7 am-7pm, or via email at Lien.Solutions@wolterskluwer.com.
Know Your Borrower
The CARES Act is creating enormous opportunities for lenders and SBA loan applications are skyrocketing. You can rapidly verify borrower good standing in order to maximize your opportunity to lend to businesses that need relief. Verify businesses were in operation on February 15, 2020, and request Certificates of Good Standing with our Business Entity Search for CARES Act.
Mitigate your lien risk
Perhaps more now than ever, lenders need insights about risk to their lending portfolio due to changing financial conditions in the market. Fraud and defaults are on the rise and you need to see what’s happening to your portfolio in real time. Ask us about tools you can use for greater visibility into your borrower and protection against fraud.
Gain valuable insights
Even as you lend to new borrowers through a stimulus program, they’re also borrowing from other lenders and carry existing debt. We can give you insight into the full scope of your borrower’s activity and help ensure you make smart decisions.