Something seems fishy. need opinions (payment, vehicle, credit, house)

[marlinfshr]

I recently purchased a new boat with a 60% down payment so I could have a small monthly payment that would be payed off super early.

I got a loan through an on line finance company that, of course, had a different bank.

I received the title and it doesn't have a lien holder on it.

Now today, I got an email from the finance company, really the "broker" I guess (not the bank I actually have the loan through) and they are stating that the title has the wrong lien holder on it and I must mail the title to them so it can be changed. Huh? What?

Am I right in thinking this doesn't pass the smell test?

Why would I send them my title to correct it? A possible thief could then claim ownership on the boat?

I guess I have 3 options.
1....Ignore it as I have the title and I have my loan through another bank (I would think the "finance
company, "Broker", would have nothing to do with it at this point)
2....Call the actual bank I have the loan with. I have not made the first payment yet as it is that new.
3....Contact the finance company, uh "Broker" through my original emails as I was getting approved.

What do you think?

Any vehicle I have bought in the past, my house as well, has had a different bank then anybody I was talking with to get the loan. As I see it, I send in an application to a broker who then sends it out to assorted banks as needed to get an aproval. The only time was my previous Ford truck that had it through Ford credit.



EDITED *** Reread it and it is for my trailer, not the boat! ** EDITED

[homestead123]

No official on cd here. But.... as a fellow boater fisher.
I would choose option 1.
Wait and see what happens.
But that’s just me

[Parnassia]

I would call the loaning bank. THEY are the lienholder.

I would also talk to the DMV for the state your trailer will be registered in and verify whether or not the title must show a lienholder.

[JONOV]

#2. To me, it sounds like the broker screwed up, and is trying to fix the error. I'd cooperate, but verify with the lender. Nothing sounds fishy, but it does look like a line wrapped around the propeller.

[skeddy]

admin error, relax

[rjm1cc]

Write back to them and keep a copy of the letter. Certify if you want.
Say with the number of scam's around you will return the title to the state when the state mails you the corrected title.
Ask then for the name, address and phone number of the state department that is responsible for making the correction. You can google and see if it is correct and if it is advise them of what is going on.
I agree sounds like a scam but show that you were cooperative and reasonable.