The Pennsylvania Department of Transportation (PennDOT) is requiring anyone wishing to apply for a lien on a vehicle title in Pennsylvania to participate in the Electronic Liens and Titles (ELT) program. Since their program became mandatory (as of July 10, 2008) they have been requiring all lenders (those normally engaged in the business of lending money for automobiles or other titled vehicles) to have an FIN (Financial Institution Number).
The FIN is assigned by PennDOT and must be included on any title application (like the MV-38L). This number is not identical to the IRS assigned FEIN.
Pennsylvania is one of the easiest states to apply to participate in ELT. They do not require a contract or "memorandum or understanding". Just complete their short MV-37 and select a service provider from the list.
My company (Decision Dynamics, Inc.) is (of course) one of the service providers available. For more information about applying with us, please visit http://www.etitlelien.com/ELT.aspx.
Image: Philadelphia skyline from I-95
