It is very common for community lenders to acknowledge the shortcomings of insurance tracking and force placing CPI coverage on borrowers.
Many lenders use CPI for their consumer loan portfolios, unaware of potential ramifications they may face if their programs are not administered...
A lender must determine the loan to value ratio and what they could sell the collateral for in order to mitigate their loss if the loan defaults
As new vehicle sales prices continue to rise, many lenders are feeling the pain in the way collateral protection premiums are calculated.
Now that blanket protection or VSI is available, many lenders are trying to choose between CPI and VSI. Is your institution ready to simplify loan...
Industry-wide, credit scoring is becoming automated, but is the auto-financing world is ready to give up all human interaction to autonomy?