Protecting your interest in collateral requires more than just adopting effective tools – if only that were the case! Collateral risk management practices need to also take into consideration the “member factor.” In other words, your collateral protection program needs to take on a member-centric approach to add real value to your business.
Collateral Protection Insurance (CPI) is a familiar necessity for most lending institutions. It’s coverage that exists as a safeguard against physical damage on uninsured loan collateral. When a borrower refuses to maintain required insurance – or simply forgets – the lender must make a decision. For larger organizations, the decision may be easier – either seek CPI…
