Commercial Loan Agreement Compliance – Lenders, are you concerned or not?

We’re really upbeat on our thoughts for 2010!

It seems like the new decade has arrived with a huge bang after the whimper of 2009 left with such a bad memory.

We have added 2 new Commercial Lenders, including another bank (3 of Canada’s “Big 5” Chartered Banks are using our firm’s services) and we have already exceeded January’s 2009 Loan Review volume in the first half of January, 2010!  WOW – now that is a terrific start to a new decade, isn’t it?

Who else is lending Commercially and who needs outsourcing of Borrower Loan Agreement Compliance? I can give many important reasons for considering outsourcing this task, as opposed to trying to perform an adequate job in-house, but will not do that now.

Why not, simply, leave it to the experts to ensure that your Borrowers meet the terms of their Loan Agreements when they obtain Property/Casualty insurance? Whether you’re in Canada or the USA, outsourcing to reduce your firm’s own risk while knowing that experts in the insurance and risk management field can be relied upon to protect your firm’s balance sheet should be paramount in your decision-making.  That makes us your answer!

As your loan institution cannot be expected to have the knowledge of insurance professionals, why would you not consider allowing a third-party provider that has this expertise to work with you?  You are the experts in Lending, Commercially, and rely on Attorneys to provide legal assistance.  Is this any different from outsourcing insurance documentation skills to those who know the industry?

I look forward to your feedback and have a prosperous, healthy and happy 2010!

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