VINtek, a provider of electronic lien and title services, saidit is now the exclusive partner of LEVERAGE, the servicecorporation for the League of Southeastern Credit Unions.
|The league represents 298 credit unions in Alabama and Florida.
|In March, the Florida legislature passed legislation requiring automotivelenders in the state to utilize the Florida Department of HighwaySafety and Motor Vehicles' paperless ELT process by Jan.1,2013.
|“VINtekwas the natural selection to transition our Florida members to theELT process and to prepare our Alabama members for the possibilityof future introduction of ELT in the state,” said Patrick La Pine,CEO of LEVERAGE and LSCU president/CEO, in a statement.
|An Aug. 9 advisory from the DHSMV said there is a potential forseveral thousand lenders to enter Florida's ELT program over thenext few months, VINtek said.
|Lenders who do not allow adequate time to complete the requiredsteps by the Jan.1 deadline will risk rejection of titleapplications received by DHSMV after that date, according to theadvisory.
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