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#1024976 - 08/21/08 03:19 PM Consumer Car Loan - Bank Lien
countrytink Offline
Junior Member
Joined: Feb 2004
Posts: 48
Illinois
When funding a consumer loan for a vehicle purchase, we make out the check to the borrower and the dealer. In the past, I also remember having a "stamp" that we would put on the back of the cashier's check which had language concerning the dealers obligation to place the bank's lien on the title. Does anyone still have that stamp or language on a document for the dealer?

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Lending Compliance
#1026077 - 08/22/08 02:59 PM Re: Consumer Car Loan - Bank Lien countrytink
DRC Offline
New Poster
Joined: Mar 2008
Posts: 16
Indiana Posey County
You might try this:

The payee by endorsement of this check certifies to the drawer hereon that a security interest lien in favor of the drawer has been recorded on the title, or title application, for the above motor vehicle this day transmitted to the Illinois Bureau of Motor Vehicles, with the request that certificate or title be mailed to the drawer at PUT YOUR BANK ADDRESS.

DRC from INDIANA

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