Share this
by Dan Bennett, President on Aug 28, 2023 11:51:14 AM
Last week, MIMVA had an engaging meeting with the Maine BMV's Titling division to discuss an upcoming transition to electronic lien titling that will impact our membership.
MIMVA President Dan Bennett
Here is what you should know about the changes to Maine’s Application for Certificate of Title (MVT-2):
The BMV is instituting these changes as part of its Electronic Lien Titling Program (ELT) which will go live in January 2024. ELT will allow lenders to exchange title and lien information electronically. Your dealership will continue to submit all title applications and supporting documents on paper.
Note: These new forms require your dealership to make changes to its procedures and, if applicable, for your vendor to update your dealership’s software.
Tell your IT department or vendor
If you use software to print the MVT-2, please make your IT department/ vendor aware of the new blocks so they can update your software. For their reference, the ID number will be in the format ME-FEIN-### (where FEIN is the lender’s 9-digit Federal Employee Identification Number).
How to get the new form
You may continue using your existing stock of form MVT-2 until January 1, 2024. BMV will start fulfilling form requests with the new form in September 2023. Please plan to order the new form accordingly.
Pre-validated MVT-2A
Dealerships with existing stock of pre-validated form MVT-2A may continue to use them as payment even after January 1. Please submit title applications using the new form and attach a voided, pre-validated MVT- 2a as payment.
Changes to form MVT-2
BMV has made the following changes to form MVT-2 in anticipation of launching the Electronic Lien Titling Program (ELT) on January 31, 2024:
New blocks
BMV has added blocks 21a and 24a to form MVT-2 to collect Lienholder Identification Numbers.
New information
BMV will issue a Lienholder Identification Number to any lender participating in the ELT. It will be crucial for your staff to enter the correct name of record and identification number on title applications for participating lenders. You will not, however, need to include an identification number for lenders who elect not to participate in the program.
When ELT launches in January, BMV will host a list of lenders’ names of record and identification numbers on the website below. Lenders with whom you do business will also provide you with their identification number.
New carbon copies
The owner, lienholder, and dealer carbon copies are no longer color-coded on form MVT-2. Instead, each page is printed on white carbon paper with bold, red ink indicating to whom you should distribute each copy.
Please see below for a preview of the new MVT-2:
Click here to view additional pages and the original bulletin from the BMV
Online ELT Training this fall
Join us for a half-hour online training session on changes to the titling process:
Wednesday: 10/11, 11/8, & 12/13 at 3PM
Thursday: 10/12, 11/9, & 12/14 at 10AM
Email the Maine BMV at elt.bmv@maine.gov to RSVP for the sessions above.
Don't hesitate to contact MIMVA directly or elt.bmv@maine.gov for questions on this matter.