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#1610330 - 09/29/11 01:08 AM LOC Secured by Cash Value Life Insurance
DDH Offline
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Joined: Jun 2011
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Bank is creating a new product where the collateral will be Cash Value Life Insurance (non-real estate product). The product will be offered to both consumer and commercial customers. The product parameters are revolving LOC, prime plus a set margin that has a floor, interest only, and a loan fee. Other than providing the standard closing documents and disclosuers (as applicable) that we do on other lines of credit (Privacy, CIP, TIL), what else should I be concerned with as I see this as any other line of credit but just secured by CVLI?
Last edited by Kathleen B; 09/29/11 02:14 AM. Reason: fixed title
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Lending Compliance
#1610336 - 09/29/11 01:47 AM Re: LOC Secured by Cash Value Life Insurance DDH
DDH Offline
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Joined: Jun 2011
Posts: 11
I titled the topic incorrectly it is Cash Value Life Insurance not Credit - its been a long day.
Last edited by Kathleen B; 09/29/11 02:15 AM.
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#1610340 - 09/29/11 02:14 AM Re: LOC Secured by Cash Value Life Insurance DDH
Kathleen O. Blanchard Offline

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Kathleen O. Blanchard
Joined: Dec 2000
Posts: 21,277
Fixed topic title.
Last edited by Kathleen B; 09/29/11 02:15 AM.
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