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OPENING UP THE OPTIONS FOR SDL BORROWERS. To relieve the concerns with non-bank supplied… September 15, 2020

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OPENING UP THE OPTIONS FOR SDL BORROWERS. To relieve the concerns with non-bank supplied…

To ease the issues with non-bank supplied SDL services and products, a accountable SDL would align with all the after conditions and terms, with a fundamental framework in mind—to offer short-term liquidity in a low-cost and clear way.

Affordability and underwriting. Monthly premiums must not pose affordability challenges for the debtor, as well as the terms and costs of borrowing ought to be clear and well comprehended. Further, an objective should be to restrict cases of the debtor fundamentally spending more than twice as much initial quantity lent. The loan should supply a return that is reasonable the lending company and never expose the financial institution to extortionate danger of debtor standard. (more…)

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