diff --git a/pcsx2/CDVD/CDVD.cpp b/pcsx2/CDVD/CDVD.cpp
index 0d3e7df92f..95bcf677c3 100644
--- a/pcsx2/CDVD/CDVD.cpp
+++ b/pcsx2/CDVD/CDVD.cpp
@@ -381,10 +381,10 @@ s32 cdvdWriteConfig(const u8* config)
 static MutexRecursive Mutex_NewDiskCB;
 
 // Sets ElfCRC to the CRC of the game bound to the CDVD source.
-static __fi ElfObject* loadElf(const wxString filename)
+static __fi ElfObject* loadElf(const wxString filename, bool isPSXElf)
 {
 	if (filename.StartsWith(L"host"))
-		return new ElfObject(filename.After(':'), Path::GetFileSize(filename.After(':')));
+		return new ElfObject(filename.After(':'), Path::GetFileSize(filename.After(':')), isPSXElf);
 
 	// Mimic PS2 behavior!
 	// Much trial-and-error with changing the ISOFS and BOOT2 contents of an image have shown that
@@ -408,7 +408,7 @@ static __fi ElfObject* loadElf(const wxString filename)
 
 	IsoFSCDVD isofs;
 	IsoFile file(isofs, fixedname);
-	return new ElfObject(fixedname, file);
+	return new ElfObject(fixedname, file, isPSXElf);
 }
 
 static __fi void _reloadElfInfo(wxString elfpath)
@@ -427,8 +427,8 @@ static __fi void _reloadElfInfo(wxString elfpath)
 		fname = elfpath.AfterLast(':');
 	if (fname.Matches(L"????_???.??*"))
 		DiscSerial = fname(0, 4) + L"-" + fname(5, 3) + fname(9, 2);
+	std::unique_ptr<ElfObject> elfptr(loadElf(elfpath, false));
 
-	std::unique_ptr<ElfObject> elfptr(loadElf(elfpath));
 
 	elfptr->loadHeaders();
 	ElfCRC = elfptr->getCRC();
@@ -443,6 +443,36 @@ static __fi void _reloadElfInfo(wxString elfpath)
 	// binary).
 }
 
+
+static __fi void _reloadPSXElfInfo(wxString elfpath)
+{
+	// Now's a good time to reload the ELF info...
+	ScopedLock locker(Mutex_NewDiskCB);
+
+	if (elfpath == LastELF)
+		return;
+	LastELF = elfpath;
+	wxString fname = elfpath.AfterLast('\\');
+	if (!fname)
+		fname = elfpath.AfterLast('/');
+	if (!fname)
+		fname = elfpath.AfterLast(':');
+	if (fname.Matches(L"????_???.??*"))
+		DiscSerial = fname(0, 4) + L"-" + fname(5, 3) + fname(9, 2);
+
+	std::unique_ptr<ElfObject> elfptr(loadElf(elfpath, true));
+
+	ElfCRC = elfptr->getCRC();
+	ElfTextRange = elfptr->getTextRange();
+	Console.WriteLn(Color_StrongBlue, L"PSX ELF (%s) Game CRC = 0x%08X", WX_STR(elfpath), ElfCRC);
+
+	// Note: Do not load game database info here.  This code is generic and called from
+	// BIOS key encryption as well as eeloadReplaceOSDSYS.  The first is actually still executing
+	// BIOS code, and patches and cheats should not be applied yet.  (they are applied when
+	// eeGameStarting is invoked, which is when the VM starts executing the actual game ELF
+	// binary).
+}
+
 void cdvdReloadElfInfo(wxString elfoverride)
 {
 	// called from context of executing VM code (recompilers), so we need to trap exceptions
@@ -465,10 +495,11 @@ void cdvdReloadElfInfo(wxString elfoverride)
 			// PCSX2 currently only recognizes *.elf executables in proper PS2 format.
 			// To support different PSX titles in the console title and for savestates, this code bypasses all the detection,
 			// simply using the exe name, stripped of problematic characters.
-			wxString fname = elfpath.AfterLast('\\').AfterLast(':'); // Also catch elf paths which lack a backslash, and only have a colon.
-			wxString fname2 = fname.BeforeFirst(';');
-			DiscSerial = fname2;
-			Console.SetTitle(DiscSerial);
+			wxString fname = elfpath.AfterLast('\\').BeforeFirst('_');
+			wxString fname2 = elfpath.AfterLast('_').BeforeFirst('.');
+			wxString fname3 = elfpath.AfterLast('.').BeforeFirst(';');
+			DiscSerial = fname + "-" + fname2 + fname3;
+			_reloadPSXElfInfo(elfpath);
 			return;
 		}
 
diff --git a/pcsx2/Elfheader.cpp b/pcsx2/Elfheader.cpp
index 9e5009d64d..d1e666841f 100644
--- a/pcsx2/Elfheader.cpp
+++ b/pcsx2/Elfheader.cpp
@@ -25,36 +25,40 @@ u32 ElfCRC;
 u32 ElfEntry;
 std::pair<u32,u32> ElfTextRange;
 wxString LastELF;
+bool isPSXElf;
 
 // All of ElfObjects functions.
-ElfObject::ElfObject(const wxString& srcfile, IsoFile& isofile)
+ElfObject::ElfObject(const wxString& srcfile, IsoFile& isofile, bool isPSXElf)
 	: data( wxULongLong(isofile.getLength()).GetLo(), L"ELF headers" )
 	, proghead( NULL )
 	, secthead( NULL )
 	, filename( srcfile )
 	, header( *(ELF_HEADER*)data.GetPtr() )
 {
-	isCdvd = true;
 	checkElfSize(data.GetSizeInBytes());
 	readIso(isofile);
-	initElfHeaders();
+	initElfHeaders(isPSXElf);
 }
 
-ElfObject::ElfObject( const wxString& srcfile, uint hdrsize )
+ElfObject::ElfObject( const wxString& srcfile, uint hdrsize, bool isPSXElf )
 	: data( wxULongLong(hdrsize).GetLo(), L"ELF headers" )
 	, proghead( NULL )
 	, secthead( NULL )
 	, filename( srcfile )
 	, header( *(ELF_HEADER*)data.GetPtr() )
 {
-	isCdvd = false;
 	checkElfSize(data.GetSizeInBytes());
 	readFile();
-	initElfHeaders();
+	initElfHeaders(isPSXElf);
 }
 
-void ElfObject::initElfHeaders()
+void ElfObject::initElfHeaders(bool isPSXElf)
 {
+	if (isPSXElf)
+	{
+		return;
+	}
+
 	DevCon.WriteLn( L"Initializing Elf: %d bytes", data.GetSizeInBytes());
 
 	if ( header.e_phnum > 0 )
diff --git a/pcsx2/Elfheader.h b/pcsx2/Elfheader.h
index 04f775f308..7fa40de9a6 100644
--- a/pcsx2/Elfheader.h
+++ b/pcsx2/Elfheader.h
@@ -19,12 +19,6 @@
 #include "CDVD/IsoFS/IsoFSCDVD.h"
 #include "CDVD/IsoFS/IsoFS.h"
 
-#if 0
-//2002-09-20 (Florin)
-extern char args[256];		//to be filled by GUI
-extern unsigned int args_ptr;
-#endif
-
 struct ELF_HEADER {
 	u8	e_ident[16];	//0x7f,"ELF"  (ELF file identifier)
 	u16	e_type;			//ELF type: 0=NONE, 1=REL, 2=EXEC, 3=SHARED, 4=CORE
@@ -131,21 +125,20 @@ class ElfObject
 		ELF_SHR* secthead;
 		wxString filename;
 
-		void initElfHeaders();
+		void initElfHeaders(bool isPSXElf);
 		void readIso(IsoFile& file);
 		void readFile();
 		void checkElfSize(s64 elfsize);
 
 	public:
-		bool isCdvd;
 		ELF_HEADER& header;
 
 		// Destructor!
 		// C++ does all the cleanup automagically for us.
 		virtual ~ElfObject() = default;
 
-		ElfObject(const wxString& srcfile, IsoFile& isofile);
-		ElfObject( const wxString& srcfile, uint hdrsize );
+		ElfObject(const wxString& srcfile, IsoFile& isofile, bool isPSXElf);
+		ElfObject( const wxString& srcfile, uint hdrsize, bool isPSXElf );
 
 		void loadProgramHeaders();
 		void loadSectionHeaders();
@@ -168,5 +161,6 @@ extern u32 ElfCRC;
 extern u32 ElfEntry;
 extern std::pair<u32,u32> ElfTextRange;
 extern wxString LastELF;
+extern bool isPSXElf;
 
 #endif