All About ELT in South Dakota

The South Dakota Department of Revenue Motor Vehicles Division (MVD) offers an Electronic Lien and Title (ELT) program with a number of helpful features for lenders.

• Participation is not required.  However, the state stopped printed titles with liens when it implemented the ELT program on 10/1/2012.  Notification of lien placement is part of the ELT program.
• Registering is simple.  There is no cost to enroll and approval and go-live is quick.  Only a short application is required.  See details here.
• Title Status can be verified prior to issuing a loan.  SDCars.org has a Vin Check option which includes vehicle, title, and lien information. 

Premier eTitleLien™ supports these features and adds additional workflow enhancements, including generating MV-608 and other forms within the application.

For more information on the SD ELT program, visit SDELT.com.

Image above is of a South Dakota road and titled The Road Less Traveled (is usually the one I pick for my road trips) by Eric Peterson.

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DDI and ELT in 2012: Year in Review

 

2012 was full of positive growth and change for ELT states and Decision Dynamics, Inc.

With DDI’s support, California, Florida, and Georgia, spent the year preparing for mandatory ELT. (In 2013, these states will require lienholders, with the exception of smaller Georgia lienholders, to participate in an ELT program.)

Wisconsinbegan expanding its ELT programs in July, and in October, South Dakotaimplemented its own ELT system. As an approved ELT provider for South Dakota, DDI worked closely with the state’s Department of Revenue as they developed their system.

In September, DDI’s 2,000^th customer signed up for ELT services, and the following month the Georgia Banker’s Association renewed its partnership with the company.

What will 2013 bring for ELT? Check back before the New Year to learn more.

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South Dakota ELT Webinar

 

In order to provide the highest quality service, Decision Dynamics, Inc. (DDI) takes time to thoroughly educate and inform customers about its electronic lien and title (ELT) software, Premier eTitle Lien™. To educate its South Dakotra customers, DDI will conduct a Premier eTitle Lien™ webinar for the South Dakota Independent Bankers Association (SDIBA) today.

During this WebEx webinar, bankers will see Premier eTitle Lien™ in action and learn more about ways in which ELT use can benefit them. Although ELT use is not mandatory in South Dakota, the state implemented its own ELT system on Oct. 1 this year and stopped printing paper titles with liens.

To learn more about the benefits of Premier eTitle Lien™ and DDI, visit etitlelien.com.

 

Image above is of Mt Rushmore

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South Dakota Implementing ELT in 2012

South Dakota is on schedule to implement their new ELT program on July 1, 2012. DDI has been working with the South Dakota DMV providing input and feedback about their program, including sharing the recommendations on AllAboutTitles.com, the site we maintain as a resource for state DMVs.

So far the SD DMV has shared two drafts of their ELT specifications with us and it looks like a good program. The DMV has taken a lot of lender feedback into account. Some key points about the program as we understand it:

• The planned implementation date is July 1, 2012 (yes, less than 2 months away)
• South Dakota will not require participation, but they will immediately stop printing titles with liens. (I'll be adding them to the list of states that "compel" participation in ELT.)
• Lenders who do not participate in ELT will use a form to release their lien (since there will be no printed title with the lien printed on it). Lenders in the ELT program will be required to release their liens electronically, a fraud prevention measure.
• All lenders will have access to a public inquiry site to verify that their lien was correctly placed. This allows individuals and businesses who do not normally place liens to validate the lien placement and lien release.

We will provide more details as the program rules are finalized.

Image above is Ft. Pierre, South Dakota: 4th of July Parade, 2002.

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States Planning to Compel Participation in ELT

A series of questions in which our writer attempts to answer simple-sounding questions without saying things like "Well, yes, they do have ELT but..." Let the reader understand that these are simplified answers. ;)

See the other posts in this short series: Electronic Title States, Upcoming Electronic Title States, States Compelling Participation in ELT, and States Planning to Compel Participation in ELT (this post).

Which states have said they intend to compel participation?

• Florida
• Massachusetts
• South Carolina
• South Dakota
• Texas

Florida has indicated to us in person as well as through legislation that their long-term plan has been to require participation. See a further explanation on States Compelling Participation in ELT post.

Although the MA RMV has indicated to us that they do not have plans to make their ELT program mandatory, the Massachusetts legislature has (at least twice) introduced legislation requiring participation.

South Carolina has had legislation introduced twice to allow the DMV to require participation. The South Carolina DMV has indicated that it intends to make the program mandatory only after developing a plan with industry stakeholders.

In our discussions with South Dakota about their new (2012) ELT program, they mentioned that their plans are to make the SD ELT program mandatory from the beginning using a no-printed-titles-with-liens policy.

Texas passed legislation in 2011 that allows the DMV to make the program mandatory. They have indicated to us in person that they intend to gather feedback from industry partners before implementing any requirements.

If you are a lender and would like a greater explanation of these differences, please contact DDI. If you are a state or would like more technical details, you may also visit our AllAboutTitles.com site.

Image above is from Kazoobie Kazoos.

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Upcoming Electronic Title States

A series of questions in which our writer attempts to answer simple-sounding questions without saying things like "Well, yes, they do have ELT but..." Let the reader understand that these are simplified answers. ;)

See the other posts in this short series: Electronic Title States, Upcoming Electronic Title States (this post), States Compelling Participation in ELT, and States Planning to Compel Participation in ELT.

Which states are actively working on an ELT program?

• Iowa
• South Dakota

We expect both Iowa and South Dakota to implement their programs this year. DDI is working with both states as they implement their programs.

Which states have said they intend to develop an ELT program?

• Alabama
• Connecticut
• Indiana
• Mississippi
• Tennessee
• West Virginia

These states have all indicated to us (in person) that they have a goal to implement ELT. In most cases for these states, it is a matter of available resources to implement needed technical changes.

If you are a lender and would like a greater explanation of these differences, please contact DDI. If you are a state or would like more technical details, you may also visit our AllAboutTitles.com site.

Image above is from a blog post by Ben Phelps entitled "Beyond a Blueprint".

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