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Nia Harris
Update us when you figure it out! I'm dealing with a similar situation in Nevada and want to know what the issue was.
Will definitely post an update once I get this resolved. Hopefully it's something simple.
GalaxyGazer
Just a heads up - if you're getting close to your lapse date, you might want to file a new UCC-1 as backup while you sort out the continuation issue. Better safe than sorry with $340K in collateral.
Smart thinking. A new UCC-1 would restart the 5-year period and give you breathing room.
Just make sure to coordinate with your borrower about filing a new UCC-1 if that's the route you go.
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Luca Ricci
Just to add - make sure you're also checking for any DBA names or trade names that might complicate the search results. Sometimes the UCC business search will pull up filings under assumed names too.
Good reminder. This company does have a DBA they use for marketing but I don't think there are any UCC filings under that name.
Still worth checking though. I've seen cases where previous lenders filed under the DBA instead of the legal entity name.
The frustrating thing about UCC business search inconsistencies is that different secured parties might have used different name formats over the years, so you end up with a mix of filings under slightly different versions of the same company name. Really emphasizes the importance of getting the debtor name exactly right on new filings.
That's why I always keep detailed records of exactly how I formatted debtor names on original filings. Makes future amendments much easier.
Smart practice. I've seen UCC-3 amendments get rejected because the debtor name didn't match the original filing exactly, even though both versions were technically correct legal names.
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Sean Kelly
honestly just go back to manual searches until these APIs get better. not worth the headache imo
Zara Mirza
•Manual isn't scalable for everyone though. Some businesses need the automation even if it's imperfect.
Sean Kelly
•yeah i get that. just saying from my experience the APIs cause more problems than they solve right now
Luca Russo
Update: Finally got our API integration working more reliably by implementing extensive name preprocessing before sending queries. We normalize all entity suffixes, remove extra spaces, and convert to uppercase before API calls. Still not perfect but rejection rate dropped from 40% to under 10%.
Luca Russo
•Sure, I can put together a quick reference guide. The key is having a comprehensive mapping table for all the common entity suffix variations.
This preprocessing approach makes sense. Most of the API failures are probably just formatting issues rather than actual search problems.
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Amara Okafor
For what it's worth, I think you're smart to be questioning this now rather than discovering it during an audit or worse. The fact that Delaware shows both entities as separate and active is definitely concerning. I'd lean toward filing an amendment to add the correct entity name as soon as you confirm which one actually owns the pledged stock.
That's probably the safest approach. File the amendment to add the correct name while keeping the original filing in place for continuity.
Agreed. Amendment is much cheaper than potentially losing perfection entirely. Plus it creates a clear paper trail showing you identified and corrected the issue.
Just wanted to add that I tried that Certana.ai tool someone mentioned after having my own document consistency headaches with a different pledge of stock deal. It's actually pretty slick - caught several name variations I hadn't noticed between my loan agreement and UCC filing. Definitely worth trying for complex collateral situations like this.
I'm definitely going to check that out. At this point I need all the help I can get making sure our documents are consistent.
The nice thing is it gives you a clear report showing exactly where the inconsistencies are, so you know exactly what needs to be fixed rather than guessing.
Emma Wilson
Subordination agreements can be complex but they're often more practical than fighting over priority. Especially when the debtor is current on one loan but not the other.
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Javier Torres
Exactly. Banks sometimes prefer certain payment over uncertain foreclosure proceeds, especially for specialized equipment that might be hard to liquidate.
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