Yes, yes. Premium financing is available through Imperial PFS (IPFS), a high-end national finance company. Once your insurance coverage is approved, we will send you the deposit account and the disclosure statement of payment agreements that specify payment terms. This contract contains your specific payment information; Therefore, do not transfer payment until you have received this information. Please note that your policy will not take effect until we receive your deposit until the due date. In its sixth securitization in 2020, IPFS Corp. is pursuing a $400 million agreement, backed by a revolving pool of insurance premium financing credits, guaranteed by the right to receive unearned loan premiums. 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.” Other strengths of the agreement, according to Moody`s, include a pool of granular and diversified borrowers, each representing less than 0.7% of the capital of the loan pool, protecting bondholders from changes in pool characteristics and more than 30 years of experience of IPFS in the business. 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 documents contain instructions for choosing one of these payment methods. Another securitization in June 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. We will send you an invoice if your application is approved. You can pay online by cheque or credit card. Please note that your policy will not come into effect until we receive your full payment until the due date. If you are interested in a personalized premium ad, call (800) 245-3333 or use our online information request form.