On the ground, apart from its unparalleled quick processing turnaround time commitments, the branches were able to offer added incentives to eligible borrowers in the form of free 1st year comprehensive insurance, chattel mortgage
fees and gas allowance for auto loans; and free appliance packages for home loans.
The promo includes free chattel mortgage
, three-year LTO registration and one year comprehensive insurance.
Dela Cruz said other assets in the IMA trust account, including a chattel mortgage
for P500 million and 300 million shares of Wellex, may likewise be sold if the proceeds from the sale of the Waterfront shares were not enough.
Besides, the hold-out was only pro-forma because all the loans were fully secured by vehicle chattel mortgages
the borrowers assigned to the bank.