Upcoming Industry Events
June 6
LSCI Loan Decisioning Boot Camp - Online

June 6-8
MD/DC CUA Annual Meeting & Convention - Ocean City, MD

June 7-8
NCUL Annual Meeting & Convention - Omaha, NE

June 7-9
LSCI University of Lending - Arlington Heights, IL & Online

June 15-17
Southeast CU Conference & Expo - Orlando, FL

June 19-20
Carolinas CUL 2022 Exhibitor Showcase - Myrtle Beach, NC
Industry News
Past-due Subprime Auto Loans Climb to Highest Rate Since April 2020, a Potential Sign of Trouble
Deutsche Bank says delinquency rates for subprime auto loans over 60 days past due rose to 4.15% in February, the highest since April 2020. This could be an early indicator that tougher roads are ahead, particularly for low-wage earners, as pandemic relief ends and prices rise for things like gas and groceries.

marketwatch.com
Rising Rates Are Battering Mortgage Lenders
The demand for homeowners refinancing their loans is drying up and mortgage lenders are scrambling to survive, especially nonbank mortgage lenders. Even though home prices continue to rise and people are still buying houses, this sharp drop is a major hit as refinancing made up the bulk of mortgagee originations throughout the pandemic. Some lenders have trimmed staff, some have considering selling themselves or are selling assets, such as their right to collect mortgage payments, while others are trying to gain business by offering lower rates or cutting their fees.

wsj.com
Highlights
Raving Fan Review of the Month!

"My husband and I have separate car loans with Shell Federal Credit Union. We have changed insurance companies and somehow notification was not sent to you with the updated coverage. I have been working with Julie to try and get this information to you which included several different messages to research the information that was received, and to make sure everything you needed was there. She has been nothing but prompt, professional and very kind. I just wanted to take a moment to let you know that she is clearly an asset to your team. Please thank her again for all the help she provided me."

From a Borrower of Shell Federal Credit Union
Wisconsin CUL Annual Convention & Expo

Taylor MacCurdy (ISI President) and Joshua Boaz (ISI Executive Vice President) with John Quiñones (Host of 'What Would You Do?' and ABC News Correspondent)
June Holidays, Fun Facts, and Folklore!

The month of June brings beautiful bouquets, delicious fruits and vegetables, and an urge to get out there and enjoy the sunshine. Check out June holidays, wacky times, gardening tips, and even a fun quiz!

almanac.com
Announcements
Connect with Us:
Contact Info:

Phone: 800-749-5440
Website: isicpi.com
ISI is an administrator of Collateral Protection Insurance (CPI) and Blanket Lenders Single Interest (BLSI) for financial institutions. We provide insurance, lending, and marketing products to the financial institution marketplace. Our mission is to deliver the best products and services in the industry through responsive service, comprehensive coverage, and advanced technology. We combine the lender's vision and our proven plan to create a portfolio that matches the lender's needs for a successful program and partnership.