Fast. Accurate. Transparent. Complete.
Fast: Seamless, systematic title processing via our API reduces turn times.
Accurate: Our jurisdictional expertise helps ensure accuracy so you are always up-to-date with changes to requirements in all 50 states.
Transparent: We offer clear visibility into your orders, transactions, and status updates in real time.
Complete: You get all the tools you need to help manage the health of your lien portfolio through the life of the loan.
Are you ready to handle the risk?
Smart lenders and brokers have embraced refinancing of vehicles and specialty assets to balance the drop-off in new loan originations. Whether lenders work with borrowers looking for a better rate, extending the life of their loan, or getting second chance financing, they must consider the added risk to their portfolio. Today, 10%-15% of all vehicle liens go unperfected and delinquency rates are normalizing after volatility during the COVID-19 pandemic. With an estimated average loan amount on a refinanced car of $25,000, lenders must ensure they have secured the asset in cases of delinquency.
Managing this risk is challenging, especially with manual and tedious in-house titling processes that can’t offer fast turnaround times or handle volume spikes. And keeping up with jurisdictional requirements as you expand into new states can be difficult. Now lenders and brokers can leave these administrative burdens behind and transform the process for refinance title changes.
Take control of your lien portfolio
With its easy-to-use interface, iLien Motor Vehicle offers total portfolio visibility and simplifies your workflow. From one end-to-end solution, you can confidently handle title processing and ongoing title management tasks:
Secure assets quickly to help you meet service level agreements (SLAs)
Mitigate risk by perfecting motor vehicle titles
Add lien holders to reflect changes in lenders on existing titles
Transfer loan ownership through title-only transactions without a change in registration
Streamline workflows with automation to better manage your operations
Be prepared for audits with activity logs and status updates documenting every step of the titling process
Serve the customer with a digital solution that speeds and simplifies their refinancing experience
Duplicate titles if the original is lost or misplaced and a new copy is needed
Run NMVTIS and VIN searches and title history reports to avoid possible fraud risk
2 Wolters Kluwer
3 https://cars.usnews.com/cars-trucks/refinance-car-loan US NEWS 1/31/22
4 American Financial Services Association
5 Auto Finance News 12/10/21