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 .. 21 Background New York State's Electronic Lien Transfer (ELT) Program provides an Electronic method for the Department of Motor Vehicles (DMV) and lienholders to exchange lien data. While a number of other states have implemented an ELT Program , New York State's Program differs because titles are issued to the vehicle owners, not to lienholders; therefore, there is no Electronic title component in DMV s system.
The lender's escrow account will be charged the appropriate lien filing fee each time a matching VIN, Year, Make and name is found and a lien is recorded on DMV’s record. ... Electronic Lien Transfer Program Business User Manual ...
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