April 24, 2015 - 2:54pm
#1
Quick poll- How do you handle increasing or do you handle increasing the loan payments after CPI insurance is added to a loan.
We are discussing and reevaluating our process. We currently increase the payment on the loan over 12 months. Then change the payment back to the original once the premium is paid. We have seen a significant increase in delinquency as a result not to mention the time to constantly change payments.
Do you?
Increase payments over 12 months/policy term.
Increase payments to still pay loan off by maturity.
Not increase payments at all.
Or some other combination?
thank you,
