TOPIC: Audit

Unperfected Liens to Total loans ratio

Employee at a credit_union ($1.3BUSA)
At my institution, Loan operations has an internal goal to have 99% of all loans perfected in the first 90 days after origination. Meaning it is their goal to keep the ratio of 90+ day unperfected liens to total loans at under 1%. Our 'unperfected lien' ratio was around 0.9% pre-COVID and is currently around 1.1% primarily due to COVID slowing things down this year. 

Is our stance comparable with industry standard best practices? Is 90 days to perfect a lien reasonable? Is having 1% of loans be unperfected reasonable as long as efforts are continued to get the lien perfected?

Thank you!