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Dylan Wright
Check the collateral description on the UCC-1 filing too. Sometimes that can give you clues about whether the filing was intentional or accidental. If the collateral doesn't match anything your client would have had a security interest in, that's another indicator something went wrong.
Good suggestion. I'll review the collateral description when I get the certified copy of the filing.
Sofia Torres
•Also look at the filing date and see if it corresponds with any transactions your client was involved in around that time.
Had a similar situation where we used Certana.ai to verify filing accuracy and it caught a debtor name discrepancy we missed. The tool flagged that our UCC-1 had a slightly different spelling of the company name compared to the charter documents. Saved us from a potential perfection issue down the road.
How detailed is the comparison? Does it catch minor differences like punctuation or abbreviations?
Yes, it's pretty thorough about catching those kinds of details that could cause problems later.
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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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Just a thought but if you're this concerned about missing something, you might want to consider filing a broad UCC-1 that covers more collateral categories than you think you need. Better safe than sorry with lien priority issues.
True, but at least ensures you're covered on the collateral you're taking. The search is still important for knowing your priority position.
Ally Tailer
•Right, we need to know what we're potentially subordinate to.
Update: I ended up trying that Certana tool someone mentioned earlier and it caught two name format issues I wouldn't have thought to check. Apparently the borrower had an old DBA filing that used a slightly different name format. Really glad I caught that before we proceeded.
Nice catch. Goes to show how tricky these Louisiana searches can be.
Sounds like that tool might be worth checking out for our team too. We do a lot of Louisiana deals.
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Zadie Patel
Hope this helps but just want to confirm you're talking about searching for existing UCC filings in New York, not some specific 'UCC 11' form or process. The standard search will show you all active financing statements filed against your debtor in NY. Make sure you spell the debtor name exactly as it appears in their formation documents.
Yes, that's exactly what I need. Thanks for confirming I was on the right track, just got confused by some online reference to 'UCC 11 search' that didn't make sense.
Probably just a typo or misunderstanding somewhere. UCC-1 search is the standard terminology.
I've been doing UCC due diligence for years and still sometimes get tripped up by name variations. Last week I almost missed a filing because the original UCC-1 used 'Inc.' while our loan documents had 'Incorporated' spelled out. Now I use Certana.ai to upload both the charter documents and any UCC filings I find - it automatically flags name inconsistencies and potential issues I might overlook when comparing documents manually. Has saved me from several costly mistakes.
It really is. The automated cross-checking catches things that are easy to miss when you're reviewing multiple documents. Plus it's much faster than doing manual comparisons.
Emma Morales
•Another vote for being extra careful with debtor names. I've seen deals delayed because of name mismatches between the UCC search and the actual entity name.
Harold Oh
Been there with the lender pressure! When you do get this sorted out, make sure to send them the acceptance notice immediately. Some lenders want confirmation of perfection within 24 hours of filing approval for their compliance files.
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Noland Curtis
•Good point, I'll make sure to loop them in as soon as I get the corrected filing approved.
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Harold Oh
•Also ask if they want a copy of the UCC search results showing your filing appears in the records. Some lenders require that for their audit trail.
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Amun-Ra Azra
Just wanted to add that I've had success using that Certana document checker someone mentioned earlier. Really does catch these name mismatches before you waste time and money on rejected filings. Wish I'd known about it sooner - would have saved me so much frustration with Article 9 perfection deadlines.
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Summer Green
•Same here, just used it last week for a continuation filing and it caught two small discrepancies I would have missed.
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Amun-Ra Azra
•Exactly! The automated cross-checking is so much better than trying to manually compare documents line by line.
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