Linking your in-house or local insurance agent with collateral and loan protection agents can be beneficial.
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Get Maximum Benefits from your Collateral Protection Partners
Mitigate Risks by Understanding Collateral Protection Policy
Reviewing your lending institution’s collateral protection policies may not be at the top of your priority list. Who really wants to scour through the fine print of a policy that could easily exceed one hundred pages? These cumbersome policies are contracts that spell out the obligations of both the insurer and the insured using complex language and technical jargon which can be difficult to interpret. Due to the assignment of responsibilities to both parties, it is vital to take the time to understand your policies and the obligations outlined within.
Blanket Equipment Coverage Eliminates Tracking Difficulty
While many lenders are familiar with blanket coverages designed to eliminate the need to track and force-place insurance on mortgage and titled portfolios, fewer may be familiar with an alternative blanket coverage designed to protect the lender’s commercial equipment portfolio in cases of lapsed insurance coverage.
The Use of AI in Loan Decisions - Unitas Financial Services
Across the world, machines are getting smarter. Artificial Intelligence, or the theory and development of computer systems able to perform tasks that typically require human intellect and decision-making, impacting our lives and is already present in our day-to-day lives.
4 Options to Protect Consumer Loan Collateral for Lenders
For financial institutions to properly protect consumer loan portfolio collateral, there are four basic options to consider when determining what type of portfolio protection insurance is best for them, as well as, their borrowers.
The Impact of Longer-term Auto Loans on Lenders
There are nearly 270 million vehicles registered in the United States, making the country the second largest vehicle market after China. Despite having 1.2 cars per driver, the US continues to see growth in new and used auto sales and auto loan origination. Lenders know that auto loans today look entirely different than those from the past. Gone are the days of predominantly three- to five-year loan terms. Nowadays, most loans are made with terms of five to seven years. While this may not seem like a significant change at first glance, there are many potential ramifications for drivers and lenders once you look under the hood, so to speak, of these trends. Read on to find out how these factors affect lender risk management.