Mass Amendment

Lenders’ names and/or addresses often change due to mergers, acquisitions, purchases, name changes, etc., thus UCC’s need to be updated to reflect the changes. Search Network, Ltd. provides a service called Mass Amendment to make this process easier for lenders.

Step 1: We create a Secured Party Search (SPS) on the lender’s name, which is a listing of all UCC’s the lender has filed with the Secretary of State.

Step 2: The lender then has the choice to:

File their own amendments electronically at the Secretary of State, working from the SPS listing, or

Have Search Network, Ltd. print paper UCC amendments and file them at the Secretary of State, or

Have Search Network, Ltd. print paper UCC amendments and send them to the lender to take care of filing them at the Secretary of State.

Step 3: Once our load-thru-date reflects data beyond the date the UCC amendments were filed, we run another SPS listing to confirm all UCC records were updated properly.

Step 4: Once the entire process is complete, the SPS listings and the filed UCC amendments (as applicable) are mailed to the lender.

A lender’s Lapse Filing Alert (LFA) subscription with us may also need to be updated.