Upcoming Industry Events

August 4-6

UCC Conference - Las Vegas, NV


August 12-15

CU Leadership Convention - Las Vegas, NV


August 13-15

VISION 2025 - Louisville, KY


August 18-20

VISION Conference - Point Clear, AL


August 18-20

VolCorp Forum25 - Nashville, TN

Industry News

There's Been a Big Spike in Auto Loan Refinancing - Here's Why

Auto lenders are noticing a shift in borrowing behavior. While application volume remains steady, more borrowers are refinancing existing auto loans instead of financing new vehicles. This year, refinancing is making up a significantly larger share of total auto loan activity compared to previous years.


The change is largely driven by borrowers who purchased vehicles during the pandemic when prices and interest rates were unusually high. Many now find themselves with high monthly payments and loan balances that exceed their car’s value. With trade-ins not being a viable option, refinancing has become a practical solution to reduce costs. Some consumers are saving an average of $140 per month through refinancing, making it an attractive option in the current economic climate.


Read Full Article

marketwatch.com

Home Insurance Crisis Intensifies

The U.S. homeowners insurance market is under growing strain due to the increasing frequency and severity of climate-related disasters. Discussions around dismantling FEMA and overhauling the National Flood Insurance Program have heightened concerns among homeowners, lenders, and local governments already struggling with inadequate coverage and preparedness.


California’s insurance market is particularly affected, following devastating wildfires in January that caused over $52 billion in losses and destroyed thousands of homes. Even before the fires, insurers were pulling back from high-risk areas like Altadena and Pacific Palisades, where nonrenewal rates and premiums rose sharply above the national average. As a result, reliance on California’s FAIR Plan, the state’s last-resort insurer, has more than doubled, and the plan now faces $4 billion in claims and a $1 billion emergency assessment.


Premium hikes are also spreading nationwide. State Farm, for example, is raising home insurance rates by 27% this summer, citing inflation, severe weather costs, and supply chain pressures. With wildfire and hurricane seasons ongoing, experts urge homeowners to focus on mitigation strategies, like fire-resistant upgrades, that can improve insurability and qualify for discounts.


Read Full Article

themortgagepoint.com

What Others Are Saying About ISI

"No matter what kind of question or situation we might have, we always get a clear response in an appropriate timeline. Always very helpful and knowledgeable staff."


Crossroads Federal Credit Union


See what other Raving Fans are saying about ISI!

Celebrating Milestone Anniversaries This Month

We are thankful for our lender partners, who are essential to our continued success! Listed below are those celebrating milestone anniversaries with ISI this month!


Celebrating 5 Years

Mainstreet Credit Union


Show Me Credit Union


Staionery Credit Union


United Northwest Federal Credit Union


Celebrating 10 Years

Parthenon Federal Credit Union


Celebrating 15 Years

Revity Federal Credit Union


Shell Federal Credit Union

Data/Industry Trends

J.D. Power's 2025 Q2 Shopping List Report

J.D. Power has released its latest report, showing a decline in auto, home, and renters insurance shopping this quarter, following a record high for Auto shopping last quarter.

Switching activity is up for both auto and renters insurance, while home policy switching remains flat quarter-over-quarter. See the full report below.

Read Full Article

jdpower.com

Housing Market Data Reveals Troubling Trend That Could Signal Major Shift Ahead

Sellers now outnumber buyers by 34%, the largest gap in over a decade, with 1.94 million listings and only 1.45 million buyers. High mortgage rates (6.73%) and steep housing costs are pushing many buyers out of the market. Sun Belt areas like Florida and Texas are deep into buyer’s market territory due to oversupply and rising insurance costs. In contrast, a few Northeast and Midwest metros remain strong seller’s markets thanks to limited inventory and local demand. Redfin expects home prices to dip 1% by year-end as inventory rises and demand softens.

Read Full Article

newsweek.com

August Holidays, Fun Facts, and Folklore!

Whether you're soaking up the last golden days of summer, enjoying fair food and s’mores, or catching the Perseid meteor shower, August is a time to savor the season. Discover this month’s fun holidays, gardening tips, and recipes!

Everything you need to know about August

almanac.com

Mid-Year CPI Program Check-In: Are You on Track?


As we hit the midpoint of the year, it’s a great time to evaluate your collateral protection insurance (CPI) program and goals.


Our team is ready to assist you in reviewing your current CPI program through our consultive approach, whether you're partnered with ISI or another provider, we are here to help you build a tailored, comprehensive solution that supports your long-term goals!


Here are some things to consider when evaluating your CPI program:


  • Program Performance: Are premiums aligning with losses paid? Which loan types are driving claims?


  • Market Conditions: Are changing loan terms or balances impacting your risk? Is CPI becoming unaffordable for your buyers?


  • Borrower Engagement: Are you staying proactive with insurance proof and communication?


  • Financial Forecasts: Do your projections reflect current delinquencies and credit quality?

President

ISI

tmaccurdy@isicpi.com

704-957-5024

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Contact Info:


Phone: 800-749-5440

Email: management@isicpi.com

Website: insurancesystemsincorporated.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.