Monday, January 11, 2010
Louisiana Lenders: Emphasis on "Mandatory"
This week I am joining Casey & Casey (Auto Title Express) in meeting with Louisiana lenders at several information forums. We're discussing the Electronic Liens and Titles (ELT) program that became mandatory for the state this month.
In many ways it is unfortunate that participation in the LA ELT program is required. I am sure that many lenders will be paying attention to "you must participate" and miss the fact that ELT is a great program and can really help lenders resolve and prevent titling issues.
In demonstrating our ELT product, I'm pointing out the ease of use even for those customers who really don't want to change their current process. We've worked hard to make accepting electronic titles and releasing ELT liens extremely simple, making compliance with mandatory participation as painless as possible.
Presenting Premier eTitleLien™ in this way is a bit unfortunate, since it fails to present the many ways that an ELT program provides improvements over handling paper titles. Louisiana (through Casey & Casey as the registered tag agent) provides several features not yet provided by all existing ELT states:
These features along with the core ELT program features make the Louisiana program pretty nice. My hope is that all lenders can see the benefits of the program and not just another regulation to comply with.
Image: Clever Book Title: "Adventures in Missing the Point"