Transcription of Electronic Lien Transfer Program Business User Manual
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Electronic Lien Transfer Program Business User Manual
Electronic Lien Transfer Program Business User Manual ELT-1 (10/20) 1 TABLE OF CONTENTS Page ELT Background.. Benefits of Electronic Lien Transfer .. 1 Escrow Accounts .. 2 Lienholder Codes.. 2 Transaction Types.. 3 Lien Filing Transaction .. 4-6 Lien Release Transaction.. 7-8 Lien Cancel Transaction.. 9-10 Lien Amendment Transaction .. 11-12 Collateral Loan Filing.. 13-14 Appendices APPENDIX A: ELT Transaction Message Codes .. 15-19 APPENDIX B: Known ELT Vendors.. 20 APPENDIX C: Applications Application ffor Title/Lien Escrow Account.
manual paper process. This often involved completing various forms, mailing the paper Notice of Lien to DMV and, upon title issuance, mailing the Notice of Recorded Lien to the lienholder who would have to physically store the document until lien satisfaction. This method of operation proved to be costly and cumbersome to the lienholder.
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