Pennsylvania Credit Union Association

FDI Electronic Lien & Title (ELT) Technology

What is Electronic Lien & Title?

In recent years, the Pennsylvania Department of Transportation, along with other motor vehicle agencies from around the country, have implemented an Electronic Lien and Title (ELT) system for use by financial institutions. This initiative helps to streamline vehicle transactions for not only motor vehicle agencies, but for credit unions and members as well.

The same title documents required to apply for a paper title are also required for an ELT. The applications are submitted to PENNDOT in the same manner. Upon completion of processing, PENNDOT will transmit an electronic notification to the credit union instead of mailing a paper title. This notification is transmitted to the credit union through software provided by an ELT integrator.

This notification will include the same owner and vehicle information that is currently printed on the paper title. The credit union, upon receipt of the lien notification, will verify the information that is transmitted. When the lien has been satisfied, the credit union will then transmit a clearance to PENNDOT. Upon receipt of the lien release, a paper title will be printed and mailed to the member, and PENNDOT will notify the credit union that their ELT record has been released.

Why implement an ELT Solution?

In short, ELT eliminates the need for credit unions to store paper titles.

The benefits of ELT include:

• Reduction in filing space needed to store paper titles
• Elimination of staff time to file paper titles or locate misplaced titles
• Elimination of time and cost associated with replacing lost titles
• Improved member service through more timely release and printing of clear titles

In order for a credit union to implement an ELT program they must be approved by PENNDOT as a participating financial institution, and enter into a contract with an ELT integrator for transmission of electronic title and lien data.

FDI: The ELT Pioneer

While consulting for one of the largest credit unions in California 15 years ago, FDI Collateral Management, Inc. (FDI) created the first commercially available paperless title tracking system between the credit union and California DMV. Today, FDI is the leading provider of automation and outsourcing solutions for vehicle title administration. FDI’s software solution has been responsible for handling over 70% of all ELT transactions in the nation over the past decade, and has greatly reduced costs for credit unions and other financial institutions.

FDI’s Online Title Tracking System

FDI’s software capability for Electronic Lien & Title (ELT) provides online access to electronic title documents via the Collateral Manager System, or CMS

CMS is the most reliable, powerful title management software on the market. The software features includes:

• Over 25 pre-defined reports that deliver prioritized details on your title management activities. Credit unions always have the option to filter and streamline reports to meet your unique needs.
• Free access to FDI Help Desk Specialists. FDI specialists are at your service to assist with software or title management questions.
• The Manager’s Summary. This summary report provides the precise status of your credit union’s entire vehicle portfolio, including what’s missing, what’s pending, and what’s perfected.
• VIN Valuation - Know the value of one vehicle, a group of vehicles, or your entire vehicle portfolio.
• VIN Explosion - Get the details of a vehicle by keying in the VIN. Find out year, make, model, and more.

Experience You Can Trust

FDI has been in the vehicle title administration business for decades. Each year, FDI completes a Service Audit Standard’s SAS70 review to ensure the quality and security of their methods. FDI’s track record of securely processing millions of titles over the last 15 years is unsurpassed.

FDI maintains strong relationships with key motor vehicle administrators to encourage the use of electronic processes. FDI has participated in pilot ELT programs with every state whose motor vehicle agencies desired to participate in paperless titling. This experience and expertise with paper and electronic solutions is unique to FDI and is focused toward one common goal: cost-saving innovations for their customers.