Q: How do you increase the accuracy, transparency, and speed of service of your F&I cancellation and refund workflow? A: Two words: Refund Control©. You get verified refund quotes that provide correct data…
Q: What three things can lenders do to be better prepared for regulator questions about their F&I process? A: One, standardize your process. Uniform processes should include auditable reports of the actions taken…
Q: How long does it take you to produce report data for regulators, using your F&I product cancellation and refund process? A: What takes hours should only take minutes. With Refund Control©, lenders…
Q: Are you following a common process for all cancellation reasons – payoff, repossession, total loss, etc.? A: The CFPB and other regulators want to see lending institutions effectively managing the cancellation and…
Q: Why should lenders use a single system of record for their F&I product cancellations and refunds? A: Regulators want answers and transparency – a single solution provides that. On average, lenders are…
Q: Do you have an intelligent, single system of record with customizable workflows to track and monitor F&I products and ensure compliance at loan end? A: With Refund Control© by Lender Compliance Technologies,…
Q. Why are F&I cancellations and refunds such a frustrating part of loan servicing? A. Spending time on the phone, sending emails and follow-ups, and having to work with product providers takes your…
Q. Does your F&I cancellation and refund tool include access to standardized connectors to your other systems? Technology should streamline your processes, not increase the workload. See below how Refund Control© works well…
Q. What does it mean to be AUDIT READY? A. If you can provide regulators with all the information they require without wasting time, energy, and effort chasing it all down, then you’re…
Q. Are you using industry best practices for GAP/VSC cancellations and refunds? (Hint: If you can’t report on your whole process in real-time, the answer is no.) A. Modern regulatory problems require modern…
Q. Tired of using multiple systems to facilitate GAP cancellations and refunds? Simplify your work and increase your compliance in one step. A. Managing voluntary protection product cancellations and refunds used to require…
Q. Can lenders be held responsible for past loans that have outstanding F&I product cancellation refunds? The answer might surprise you. Check it out! A: If you haven’t examined your loans from the…
Compliance Check