Michigan Department of State (MDOS) to Require Electronic Lien Filing Beginning October 1st

Beginning on October, 1st, 2023, all financial institutions in the state of Michigan will be required to file title liens electronically.  There are two ways that credit unions can manage titles electronically:

Service Provider (DealerTrack)

If your credit union is interested in utilizing DealerTrack, please contact the DHD team at DevelopersHelpDesk@cuanswers.com.

E-Services Account (MDOS)

If you plan to manage electronic titles yourself, your credit union can create an account through the MDOS website, by selecting the CARS e-Services website link.  This link will direct you to a list of online services – scroll down to a box which reads Business Services and select the link for ‘Lienholder and Provider Services’.  After the Lienholder application has been submitted, MDOS will send a letter with instructions for creating an e-Services account.

If you have any questions, please reach out to lendervp@cuanswers.com.

Arriving 6/18: Enhancement to Interest Accrual Calculator to Display Historical Interest Rates

Arriving 6/18: Enhancement to Interest Accrual Calculator to Display Historical Interest Rates

On Tuesday, June 18th, we will be deploying an enhancement to the Interest Accrual Calculator via Member Inquiry. This enhancement will support the display of historical interest rates, allowing users to search what the interest rate was during a specified period of time. This enhancement will offer your credit union greater insight into research relating… Read more »

Jun 14, 2024

Arriving 6/18: Update for Collateral Records & Impact to Third-Party LOS Users

Arriving 6/18: Update for Collateral Records & Impact to Third-Party LOS Users

On Tuesday, June 18th, we will be deploying a project for third-party loan origination systems that build collateral records to populate the title tracking field with the default assigned to the collateral type. For third-party LOS users only: The project affects all third-party LOS users for both current and future collateral records. This project will… Read more »

Jun 11, 2024

Recommendations from Lender*VP – Document Retention for Denied Applications

Recommendations from Lender*VP – Document Retention for Denied Applications

What is your credit union’s current retention plan for documents relating to denied applications?  Lender*VP has recommendations for your credit union, as detailed below. Lender*VP recommends that any/all relevant documentation and information that is used to deny loan applications should be saved by your credit union for a period of at least 25 months.  Relevant… Read more »

Jun 10, 2024