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KY Lenders Service Corporation Collateral Protection Insurance Application 2007
Get KY Lenders Service Corporation Collateral Protection Insurance Application 2007-2024
Collateral Protection Insurance APPLICATION LENDER INFORMATION Name Physical Address Mailing Address City, State, Zip Phone(Fax (Email OUTSTANDING LOANS Direct Loans No. of Loans Dollar Amount)) Indirect.
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Propty FAQ
Collateral Protection Insurance (CPI) insures property held as collateral for loans made by lending institutions. CPI is classified as single-interest insurance if it protects the interest of the lender only.
Typically, borrowers making a down payment of less than 20 percent of the purchase price of the home will need to pay for mortgage insurance. Mortgage insurance also is typically required on FHA and USDA loans.
Collateral protection insurance — or CPI — is a type of car insurance purchased by your lender to protect your vehicle if you don't have the required amount of insurance coverage. You'll pay more for CPI than standard car insurance, and the policy doesn't always offer full coverage.
Collateral protection insurance, or CPI, provides a solution by helping mitigate the risk credit unions incur when offering vehicle loans to borrowers. Because CPI can be helpful during all economic circumstances, it serves as both a short-term and long-term security measure.
Collateral refers to assets that are provided as security to ensure satisfaction of a future liability.
Collateral insurance is intended to cover any physical damage done to your car, which means, at bare minimum, it typically comes with collision and comprehensive coverage (though it may come with medical expenses and liability as well, depending on the package your lender purchases on your behalf).
Repo Related content
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PURPOSE OF THIS SUBPART. This subpart contains the requirements for lenders and Certified...
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