Administration is simple. There is no requirement to track borrower insurance following loan closing to assure that coverage on the collateral remains in force.
Loans which are secured by automobiles, motorcycles, watercraft, rec-vehicles and other chattel type property may be covered.
Large Vehicle Being TowedLSI is rated on a per new loan basis, which is a one-time charge at loan origination that is typically passed on to the borrower.
Each borrower pays a small fee to protect the entire portfolio from collateral loss versus force placing insurance on borrowers that are most likely facing a financial hardship. LSI eliminates the expense and aggravation of tracking insurance on auto portfolios while reducing the noise that CPI programs create.
Our LSI policy is filed and approved in all states. To obtain a quote please fill out an application (LSI Application Link) and return to sales@leeandmason.com.
For more details on the LSI program you can visit our product page L&M Blanket LSI Overview
Q: What is single interest?
VSI insurance offers comprehensive, blanket protection for your entire portfolio of auto and consumer loans.
Q: What is Vendor Single Interest Insurance?
Vendor Single Interest is a blanket insurance policy that allows you to easily protect your entire collateralized loan portfolio.
Q: Is VSI insurance required?
Though it may not be required, with Vendor Single Interest, you can give your loan portfolio the protection you need to increase recoveries and decrease losses.
