Collateral Protection Insurance (CPI) Programs. Your auto loan portfolio can be your biggest liability. With a loan portfolio of any size, verifying and tracking insurance can be burdensome. That’s where collateral protection insurance (CPI) can help reduce your financial institution’s portfolio risk. Request a …Collateral Protection Insurance, or CPI, insures property held as collateral for loans made by lending institutions. CPI, also known as force-placed insurance and lender placed insurance, may be classified as single-interest insurance if it protects the interest of the lender, a single party, or as dual-interest insurance coverage if it protects the interest of both the lender and the borrower. Upon signing a loan agreement, the borrower typically agrees to purchase and maintain insurance (that …Collision coverage pays for the damage that occurs to your own vehicle. If you have a vehicle loan through a credit union or bank, you are more than likely required to carry both collision and comprehensive insurance. Collision coverage is subject to a deductible, which is an amount that you will owe before the insurance company’s payout Payments and its borrower-facing Bacon Loan Pay application was created from the ground up with the end-user experience in mind. Our payment acceptance and processing platform makes it easier for borrowers and account holders to do business with your financial institution–from ;· Unlike CPI, it does not require a tracking system, as it is automatically added to every loan. “Hybrid” CPI. Hybrid CPI combines aspects of VSI and traditional CPI to serve the unique needs of the non-prime market. It is charged to the borrower monthly on a fully earned basis. CPI For More Than Auto Loans! While the majority of CPI programs are leveraged for auto loan portfolios, they are also used for:What is Collateral Protection Insurance (CPI Payment Processing | SWBCCPI — Collateral Protection Insurance - Langley Federal Payment Processing | SWBCCollateral Protection Insurance pertains to a situation that occurs when your vehicle insurance changes or lapses during the life of a vehicle loan you have with Langley Federal Credit Union. For immediate assistance, please call 800-826-7490 or 757-827-5328, Monday through Friday - 8:00 to 6:00 and Saturday 8:30 to 1:00 Eastern Time
