Thursday, September 18, 2014

North Carolina ELT Quick Facts

The North Carolina DMV has recently begun accepting applications for their Electronic Lien and Title (ELT) program. We wanted to provide some "Quick Facts" about the upcoming program.
  • The State of North Carolina is now accepting enrollment forms for their ELT program with a targeted “go-live” date of November 15, 2014. 
  • Once active in the ELT program, a lender will receive electronic lien notifications – no more paper titles with liens will be sent by the NC DMV. 
  • Lenders will have the ability to request and receive paper titles. 
  • The ELT program provides for an immediate lien release for title printing pickup at DMV offices in Huntersville, Charlotte and Raleigh. There will be a state fee for this service. 
  • Requested paper titles can also be mailed to the lender. An alternate mailing address can be specified for mailing printed titles, with or without liens. 
  • NC has implemented a state transaction fee. The per-transaction state fee for lien notifications is $3.50. 
  • To recover their costs, participating lienholders or their agents may charge the borrower of a motor vehicle loan or the lessee of an automotive lease an amount equal to the transaction fee per lien notification plus a fee in an amount not to exceed $3.00 for each electronic transaction where a lien is notated. 
  • MANDATORY PARTICIPATION: Beginning January 1, 2016, all individuals and lienholders who are normally engaged in the business or practice of financing motor vehicles, and who conduct at least five transactions annually are required to enroll in the NC ELT program. 
  • Lenders will receive a new lien notification each time an additional lien in placed on a title and each time a lien is released, regardless of their lien position. As a result, lenders can release their lien on a title, regardless of position. 
  • No changes will be made to existing NC Title Application forms. 
  • No changes will be made to existing state title fees. For Title and Registration Fees: 
  • NC will support a title inquiry that will indicate if a lien is in place. Current state cost for this title inquiry is $2.00. 
For more information about the North Carolina ELT program and for the enrollment form, please visit