ELT in Washington
The Washington Department of Licensing (DOL) implemented the Electronic Lien and Title Program (ELT) in 1992. (In Washington, the ELT program is sometimes referred to as "Electronic Lender Transactions" or simply "Electronic Titling".)
In May of 2010, Decision Dynamics, Inc. received approval to begin processing Washington titles. Decision Dynamics, Inc. (DDI) works with the WA ELT program by providing a web application called Premier eTitleLien™. Premier eTitleLien™ allows lenders to maintain control of their vehicle collateral while enjoying the benefits of electronic processing and communication. Decision Dynamics, Inc. continues to work with the Washington DOL and their customers to improve title and lien management in Washington.
WA ELT News
More about ELT in Washington
What is the Electronic Lien and Title Program?
The Electronic Lien and Title Program is a method by which the Washington DOL and lending institutions (lienholders) can exchange vehicle and title information electronically. The WA DOL transmits essential identifying information electronically to the lienholder which eliminates the need to print and mail paper titles. Once the loan has been satisfied, the lienholder sends an electronic message releasing the title at which point the DOL prints and mails a paper title to the vehicle owner.
This process eliminates most of the paper handling involved in the vehicle titling process. Both the lending organizations and the DOL benefit from lower costs associated with processing, mailing, filing and retrieving paper titles.
How does this work?
- Premier eTitleLien™ supports the Washington Vehicle Certificate of Ownership (Title) Application form (420-001). The lender provides Washington DOL with the application at a vehicle licensing office with accompanying documentation. (It's also possible for a dealer to handle the application for lien process.)
- WA DOL records the lien and sends DDI an electronic message with similar titling information as appears on a paper form. This information includes a description of the vehicle and the name and address of the vehicle owner.
- DDI receives the message from WA DOL, formats it, and makes it available to the lender in Premier eTitleLien™.
- The lender works with Premier eTitleLien™ to validate the lien information.
- Once the loan is satisfied, the lender uses Premier eTitleLien™ to release the lien.
- The Washington DOL then mails a clear title (no lien) to the vehicle's registered owner.
The Washington ELT program also has provisions for requesting paper titles (with lien). Premier eTitleLien™ supports all the ELT program features, making them simple and as foolproof as possible, and supplements them with additional tools including preparing the title application form.
What are the benefits of the Electronic Lien and Title System?
The electronic lien and title system allows lienholders to reduce the handling, storage and mailing costs associated with paper titles by replacing them with electronic titles. Lienholders who join the program no longer have to:
- Retrieve a title from a conventional file when the lien has been satisfied.
- Physically satisfy (sign off) a lien on a title.
- Mail the title to the registered owner.
- Apply for a duplicate title when the original title has been lost.
- Reduction in title fraud.
- Reduction of title paper usage.
- Faster notification of lien satisfactions.
- Reduction in storage of title documents.
- Consolidated, itemized monthly billing for title services.
- Better customer service.
- Overall reduced costs.
Additionally, electronic lienholder customers who have satisfied their loan obligations will receive clear paper titles faster, after the lienholder has electronically notified the DOL that the lien has been released.
For more information on Premier eTitleLien™ or participating in the Washington ELT program, please visit http://www.etitlelien.com.