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OUR BLOG

Ipfs Premium Finance Agreement

By pierre.shaun@gmail.com | In Uncategorized | on December 11, 2020

Dian Mardirosian dian.mardirosian@ipfs.com Associate Account Executive – Ext. 54288 Renee Campbell renee.campbell@ipfs.com Acceptance Senior Associate – Ext. 54271 In its sixth securitization of 2020, IPFS Corp. is pursuing a $400 million agreement, supported by a revolving pool of insurance premium financing credits and guaranteed by the right to receive unearned loan premiums. However, the PfS is original and the loans are tripled. This creates a risk if it is late, resulting in losses for securitization bondholders and extending the time between a debtor`s default and the date IPFS cancels the corresponding insurance policy to recover unearned premiums. Moody`s adds that a default could also delay the return of premiums not earned by the insurance agency to the issuer. According to the rating agency, however, the issuer has a “hot” “back-up” agreement with Wells Fargo Bank, whereby the bank “would essentially assume all the services provider`s duties under the service agreement after the termination of IPFS as a service.” According to a pre-sale report from Moody`s Investors Service released on July 30, one of the key strengths of the PFS Financing Corp. 2020-F securitization is that in-kind and accident insurance is essential for borrowers, mostly small and medium-sized businesses, and to encourage them to pay off their loans. In addition, a delay in payment from the borrower invites the claimant to terminate the insurance policy and the issuer receives a refund of undeserved premiums from the insurance company that issues the policy. Linda Wadden linda.wadden@ipfs.com Acceptance Associate – Ext. 54276 Marcia Raymond marcia.raymond@ipfs.com Senior Acceptance Associate – Ext.

54294 Our Interactive Voice Response System (IVR) has been updated to accept telephone payments. The payment function is available to borrowers or agents on behalf of borrowers. They can pay a $5.00 fee and the caller must provide valid routing and bank account numbers to complete a transaction. Please note that the IVR system is now available in English and Spanish. To access the system, please call (866-412-2431). If you have any questions or would like more information, please contact the office at (800-922-8195). . Other activities, according to Moody`s, include a pool of granular and diversified borrowers, each representing less than 0.7% of the main balance of the loan pool, investors protecting investors from pool ownership changes and more than 30 years of experience with IPFS. Moody`s report also lists other potential challenges, including half of the loan pool, which is concentrated in four states, although the rest is split between the other states and the provinces of Canada. The 5% of loans denominated in Canadian dollars represent a potential foreign exchange risk, as this commitment will not be guaranteed. IPFS Corporation 67 Millbrook St.

Suite 508 Worcester, MA 01606 800-225-7286 Access your Imperial PFS account® anytime and anywhere with IPFS Connect. Toll-free: 1-800-922-8195 – Free automatic: 1-800-225-7286 – Assistant Toll Free Operator: 1-800-394-0829 – IPFS Computer Desk Help Desk Hours: 8:00 A.M. up to 5:00 P.M. Eastern Time Another securitization by the same issuer saw the AAA/Aaa price for a coupon of 1.21% and the single A at 1.71%. This agreement was entirely denominated in USD. Our free app is easy to use and has been designed to save you valuable time. Click here to preview.

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