Some lenders avoid collateral protection insurance (CPI), fearing that implementing a CPI program will disrupt their lending business. However, the right CPI program is not only easy to administer, but also fits seamlessly into your lending process and minimizes “noise” from borrowers.
An expert CPI provider will not only customize the program to reflect your appetite for risk and the unique characteristics of your portfolio, but will also handle the heavy lifting of program setup and offer a dedicated implementation team that is experienced in the process. Programs can be rolled out on the timetable that makes the most sense for your business. CPI providers should offer integration with the servicing systems you already have in place so that program management is a natural extension of your workflow.
Choosing the right provider makes implementing a CPI program an easy process for you and your staff and provides peace of mind that your risk is properly managed.