A responsible SDL would align with the following terms and conditions, with a basic framework in mindвЂ”to provide short-term liquidity in a low-cost and transparent manner to alleviate the concerns with non-bank provided SDL products.
Affordability and underwriting. Monthly premiums must not pose affordability challenges for the debtor, as well as the terms and costs of borrowing should always be clear and well comprehended. Further, an objective must be to restrict cases of the debtor fundamentally paying more than twice as much initial quantity lent. Read more