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Managing auto loan portfolios has become increasingly complex in recent years, in part because of the growing number of “skips” and increasing deficiency balances. These trends make it imperative to be proactive and diligent in your loss mitigation efforts, and your collateral protection program plays an integral part of that strategy. A regular review of the processes and approach to ensuring your portfolio is properly insured is critical. Objectives and scorecards must be properly aligned between the credit union and your business partner and what follows are key questions that should be asked routinely.

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