What are you communicating to your members when they receive insurance warning letters and an expensive, force-placed CPI policy?
This article is the second in a series of two that discusses some of the most common objections to VSI that I hear from financial institutions.
Read about some of the most common misconceptions about VSI when compared to CPI in part 1 of our series.
CPI premiums are exorbitant, and their coverage is poor. Force-placed policies can cost as much as 20% of the loan balance, causing even more...
The CFPB agency has identified several unfair acts or practices related to Lender-Placed Collateral Protection Insurance in their Summer 2021 report.
A credit union executive recently shared the thought that “those expensive force-placed premiums just don’t feel right.” What are the other options?