The History of ELT in South Carolina
In 2004, South Carolina passed legislation enabling the South Carolina Department of Motor Vehicles (DMV) to provide electronic titles to lienholders. In 2005, the SC Bankers Association partnered with Decision Dynamics, Inc. (DDI) to develop the software and host the systems to communicate between banks and the DMV. This partnership gave the SC DMV an interested outside party to work with in developing the specifics about the ELT program.
The SC DMV implemented the Electronic Lien and Title Program (ELT) in January 2007. (Press release announcing the ELT program.) The primary ELT services offered were based on standards established by AAMVA. To those standards the SC DMV added several innovative services:
Message exchange using web services (providing immediate message delivery handshaking)
Web Service allowing for immediate release of lien to enable vehicle owners to receive an over-the-counter title
A title inquiry service for lenders to verify title information both prior to loans being issued and to confirm DMV transactions such as releases
Premier eTitleLien™ was originally developed as a result of this partnership with the SCDMV and the South Carolina Banker's Association to serve the various needs of lenders in South Carolina. As a lender-designed program it allows lenders to maintain control of their vehicle collateral while incorporating the benefits of electronic processing and communication. Decision Dynamics, Inc. was the first service provider to offer ELT services in South Carolina.
As of July 2013, 17 other states (18 total) have also implemented electronic lien and title programs: Arizona, California, Florida, Georgia, Hawaii, Idaho, Louisiana, Massachusetts, Nebraska, New York, Ohio, Pennsylvania, South Dakota, Texas, Virginia, Washington, and Wisconsin. While each state's program is unique (depending on state laws and requirements), all ELT programs revolutionize the lien and title process, as bankers, credit unions, dealers, and other financial institutions no longer need to store and file paper titles.