Collateral Tab

  

The Collateral tab of the Application page is used to record pieces of collateral and tie them to one or more products on the application.

Generating a Collateral Form

To generate a collateral form, you first need to click the newicon.gif icon.  Clicking the icon again generates a second form, and so on, for as many forms as you need.

Notes about some of the common fields on this tab:

You need to tie each piece of collateral to a product before submitting the application.  A single piece of collateral can be tied to multiple products, and a single product can be tied to multiple pieces of collateral.

Note:  You can also import collateral from your CIF (Customer Information File).  For information, see Import Collateral Dialog Box.

Dealer Collateral Section

On dealer applications, this section is divided into three subsections:  Collateral Description, Collateral Value, and Other Information.  Notes about some of the dealer-specific fields in these sections follow.

Note:  Each collateral item you selected on the New Application page has its own subsection.  For valuation purposes, this section also contains a link to N.A.D.A. Values Online.

Collateral Section of the Decision Page

The Collateral section is only presented on the Decision page when collateral items exist on the application.  The content here is identical to the content presented on the Business Application Page.  If your institution uses the configurable application feature to customize the look and feel of the Collateral section on the Application page, the same field layout will display in this section on the Decision page.

When any fields on the Decision page that affect calculations are changed, the floating Calculate button appears.  The fields that will trigger this button are:

Note:  You can not add or delete any Collateral from the Decision page.

Net Advance Amount is updated automatically.  Your change also triggers the floating window with the Calculate button to display to remind you that a calculation is needed to update other fields on the Decision page.  Click the Calculate button to update the Total Collateral Net Advance in the Application Request Summary tab at the top of the page.

 

See Also...       

 

This topic was last updated February 8, 2019.

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