Tuesday, January 24, 2012

Wisconsin Will Become an Electronic Title State

The Wisconsin DOT recently posted this update on their Financial Institutions page:

What's new for Wisconsin lenders
On July 1, 2012, Wisconsin will become an electronic title state. When a lien is listed against a vehicle, Wisconsin will not be issuing a paper title to the lender/financial institution or owner of the vehicle until the lien is satisfied.
WisDOT is currently developing methods for the delivery of titles electronically. Please check back within the coming months or sign up for our lender mailing list for continuing updates.

Wisconsin has required lenders to participate in their electronic process since July 1, 2010 or face additional fees. They have indicated to DDI that this is a step toward no longer printing titles with liens. Lienholders who process more than 48 liens in a year will be required to participate in the electronic delivery. All lienholders are eligible. DDI currently supports lenders filing and releasing liens in Wisconsin within Premier eTitleLien™. We're looking forward to these changes - it will simplify the process for lenders and reduce costs for the DOT.

Image above is Xanadu in Wisconsin Dells, WI.