UCC recording fees jumping up - what are you all paying now?

Tell me about it! Just had to do a UCC-3 amendment because the debtor changed their legal name and it was another $65 on top of everything else.

At least you caught the name change. I've seen deals where nobody noticed until the continuation was due and then had to scramble with multiple filings.

Thanks for sharing those numbers! We're mostly in the southeast so Florida at $60 isn't too bad. Thought it was higher.

California at $75 is actually better than I expected. Was quoted $85 last month but maybe that included some other service fees.

New York has always been pricey but $80 is rough. Plus their portal seems to have more glitches than others.

How much does that service cost? If it's preventing refiling fees it might be worth it.

The cost isn't the main thing - it's the time saved. Last month I had three filings that would have been rejected for stupid errors. The tool caught them all before I submitted.

I'm always skeptical of these services but if it's actually preventing expensive mistakes...

Right? And you have to do them every 5 years so it's like paying the same fee over and over for the same collateral.

At least continuations are predictable. It's the unexpected amendments that kill the budget.

Pro tip: set calendar reminders for continuation deadlines. Missing one and having to start over with a new UCC-1 is way more expensive.

Interesting - which states have you seen this in? We do enough volume that even a small discount would add up.

I think Ohio has something like this but you have to meet a minimum threshold. Not sure about others.

This happened to me last week! Debtor name had one extra space and boom - rejected. Had to pay the full fee again for the corrected version.

That's exactly why tools like Certana.ai are worth it. Upload your docs and it flags those tiny errors before you submit and waste the filing fee.

Some states are better about this than others. A few will let you resubmit corrections within a certain timeframe without paying again.

Doubt it - each state sets their own fees and they're all looking for revenue. If anything, I expect more increases.

The electronic filing systems cost money to maintain so I get why fees go up, but the increases seem faster than inflation.

Good point - better to pass the costs through than absorb them and hurt margins.

We do the same thing. Borrowers understand when you explain that it's a state-mandated fee, not something we control.

Just make sure you're not overcharging. Some lenders pad the fees and that can create problems if borrowers find out the actual cost.

Absolutely. The fee is what it is, but paying it twice because of errors is completely avoidable.

That's why I run everything through verification tools now. Better safe than sorry when these fees keep climbing.

Yeah, misery loves company! But seriously, stay on top of the fee schedules because they seem to change more frequently now.

And invest in good verification processes. With these fees going up, mistakes are getting more expensive.

This has been really helpful! I'm new to handling UCCs and was shocked when I saw those fees. Good to know it's not just me dealing with sticker shock. Going to look into some of those verification tools that keep getting mentioned.