The Wisconsin Department of Transportation Division of Motor Vehicles has offered different types of electronic transactions for lenders even before beginning their Electronic Lien and Title (ELT) program in 2012.
Since July 1, 2010 the WI DMV requires lenders to electronically process lien add transactions. There are exemptions for individuals and lenders who normally file very few liens. Lenders who are not exempt and do not file electronically are assessed an additional $25 transaction fee. For details about exemptions and fees please see the WI DMV Financial Institutions page. DDI works with the WI e-MV Agent program to integrate electronic lien filing into Premier eTitleLien®.
Two changes were made to the title / lien program in 2012. They became, in their words, a "title to lienholder state" and an "electronic title state". Previously, Wisconsin sent titles with liens to the vehicle owner once the lien had been recorded. (States with such programs are sometimes referred to as title holding states.) Most other states have lienholders store the vehicle title until the loan is satisfied.
Wisconsin also began offering electronic titles to lienholders through their Electronic Lien and Title Program (ELT). The program is currently optional: "lien holders are encouraged to receive titles electronically via electronic service provider." The Wisconsin DMV has discussed requiring participation but are not currently planning to do so. Since launching the ELT program, WI has made steady improvements, adding additional ELT program transactions.
The combination of the electronic transactions offered through the e-MV Agent program and the ELT program brings together a number of valuable services for lenders:
- Vehicle Title Information and lien verification
- Immediate lien notation
- Immediate lien release
- Paperless lien transactions
Image above is 350 Kayak Formation Wisconsin, USA. "Huge 350 made by kayakers on the water in Washburn, Wisconsin in June, 2009."