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In the second quarter of 2009, Texas’ Department of Transportation (DOT) will join 13 other existing “electronic” states and begin providing Electronic Lien and Title processing. This makes Texas the 14th Electronic Lien and Title (ELT) state! As a leader in Electronic Lien and Title technology and management, FDI has worked with many states in the past to develop and implement Electronic Lien and Title programs. Most recently FDI is working with Texas’ DOT and assisting in their efforts to bring ELT to the Lone Star State.Texas’ introduction of an ELT program is good news for lenders in the vehicle finance industry because electronic titles are much less costly and easier to maintain than paper titles. Since electronic titles exist in the form of a computer record, they can be more easily updated and secured throughout the life of the vehicle loan or lease. They also do not require environmentally secured physical storage space because they remain electronic until released to your borrower at payoff. FDI, the pioneer in ELT technology provides hosted software that allows vehicle lenders to take advantage of this electronic process. Our software facilitates the lien and title transactions electronically between state and lienholder databases. In addition, FDI’s software provides a host of tools to help manage and track each transaction with the state. With up to date information, clients are better equipped to service their borrowers and ensure that their liens on collateral are placed.