Quote:
Originally Posted by Slava
You should hear the things clients tell me. Yesterday in fact a very good client told me his bank wouldn't give him the mortgage without buying an insurance policy. Could be that he misunderstood, and surely that would be the banks position, but its just wrong.
|
They might have made a condition that the client is required to obtain life insurance in the amount equal to the loan prior to funding, not necessarily their own product. It is just more convenient for them to be able to sell their own product when they issue that condition on a borrower.