AFSA, NTSF Form New Committee to Address Titling Issues
WASHINGTON — The National Title Solutions Forum is merging into the American Financial Services Association to form a new committee of professional interest under the association's Vehicle Finance Division.
The goal of this new move is to create a new entity dedicated to improving the titling process, according to officials.
The new forum indicated that it will adopt NTSF's mission to improve titling processes, especially those that involve interaction between vehicle finance companies and Departments of Motor Vehicles.
The forum also will continue NTSF's initiative of interviewing authorities in each of the 50 states to compile information on current state requirements and procedures for issuing vehicle titles, executives highlighted.
AFSA's vehicle finance division, as well as its federal and state government affairs departments, will work closely with the titling forum to communicate its work and to monitor legislative developments related to the vehicle titling process, AFSA reported.
"We are pleased to join forces with NTSF to create a central source of information on vehicle titling activity in the states, and we welcome non-member participation on this extremely important committee," said Chris Stinebert, president and chief executive officer of AFSA.
Martha Edwards, chairman of the forum and group operations manager, as well as document management for Bank of America Dealer Financial Services, added, "While ultimately we would like to see all states adopt electronic titling, which benefits both consumers and businesses, the forum also remains focused on improving all aspects of both paper and electronic title processing."
Among the new committee's participants, which include both AFSA members and non-members, are AmeriCredit, Assurant Solutions, Bank of America, BMW Financial Services, Capital One Auto Finance, CarMax, Chase, Chrysler Financial, CitiFinancial Auto, CitiGroup, Citizens Bank, Decision Dynamics Inc., Experian Automotive, FDI Collateral Management, Ford Motor Credit, GE Commercial Credit, HSBC Auto Finance, Honda Financial Services, Hyundai, Manheim, Mercedes-Benz Financial, Navy Federal Credit Union, Nissan Motor Acceptance Corp., PAR North America, PDP Group, Semperian/GMAC, SGS, Toyota Financial Services, Triad Financial, VINTEK, VW Credit, VW/Audi Credit, Wheels Inc. and World Omni Financial.
The vehicle titling committee is expected to meet in June 2008.