Collateral Identification (Mortgage)

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Collateral Identification


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Helpful Resources

Visit Show Me the Steps for easy instructions on how to use CU*BASE to complete tasks related to opening a new loan and modifying an existing loan.

Screen Overview

These screens are used to modify or view details about a mortgage collateral item attached to a loan account. View this screen to learn more about details of other collateral types. (SEE ALSO: Collateral Types)

When done, use Save/Update (F5) to save all changes and continue to the next step in the loan application or loan account maintenance process, or use Add (F5) to save and return to the Collateral Selection screen to add another new collateral item.

If you see asterisks on this screen, it is due to the privacy configuration.

Field Descriptions

Field Name


Collateral type

A code and description of the type of collateral, defined in system configuration.

SEE ALSO: Configuring Collateral Types


A description of the collateral item.


Enter the location (can be a legal description or an address).

Year acquired

Enter the year when the collateral item was purchased or acquired by the member.

Title holder

Enter the name of the person who holds the title on the property.

Estimated value

The total estimated value of the collateral item.

Amt pledged to loan

The amount of the collateral value which is pledged as collateral against the loan. This may be less than the Estimated Value for items such as stocks or bonds, when the entire item is not being used to secure the loan.

The standard Loan Officer Worksheet prints a total of this amount for all collateral items. It is labeled “Estimated value of collateral” on the form.

  • NOTE: When setting up a stock-type collateral item, be sure to complete this field with the amount pledged according to the stock's current value. When the Stock/LOC Disb Value Adjustment feature is used, this amount will be adjusted if needed according to the current value of the stock from the configured stock type code.

Loan to Value

This is a calculated ratio using only this collateral item. Use Enter to refresh the calculation after changing the Estimated value.

(Loan amount / Estimated value) * 100 = LTV%

  • NOTE: On the Loan Application Financial Summary screen as well as on the printed Loan Officer Worksheet, this ratio calculation will include the value of other collateral items tied to the loan as well.

Other debt for combined LTV

Enter any other debts here. This is used to calculate the combined loan-to-value ratio. (see below)

Combined LTV using other debt

Combined loan to value amount. This is calculated upon entry. The following calculation is used:

For combined LTV, you must add the requested loan amount to the 'Other debt...' and then divide by the 'Estimated value':

[(loan amount + other debt) / estimated value] * 100 = CLTV%


This checkbox will appear if the loan category is configured to allow for escrow accounts. If this checkbox is checked, an escrow account is attached to this loan account.

Tax ID

Use these fields to record the physical address and Tax ID of the real estate property.

  • NOTE: Use Legal Description (F14) to enter the full legal description of this property. This button will have an exclamation point on it if any comments have been added already.

Other debt desc

Enter a description of the figure entered in the “Other debt for combined LTV field.

Insurance agent

The insurance carrier for the collateral item, if any. Click the lookup button images\magnifyingglasslookup_shg.gif to display the Insurance Agent configuration screen, where you can view existing agent codes as well as create new agents if needed.

Policy #

Enter the policy number of the insurance of the collateral, if any.


The status of the insurance. Click the lookup button images\magnifyingglasslookup_shg.gif to choose from a list of available codes:

Active (A)

Cancelled (C)

Expired (E)

No insurance (N)

These are standard system codes (stored in file SYSCTL), not credit union-defined.

Expiration date

The insurance policy expiration date, if any.

  • If this is the first collateral record on file for a loan with an associated escrow record, the Expiration date here gets automatically updated when escrow disbursements are made.   

Premium amount

The premium amount for the insurance, if any.

Premium frequency

The frequency of insurance premium payments, if any. Click the lookup button images\magnifyingglasslookup_shg.gif to see a list of your credit union's configured frequency codes.

Flood zone

Enter the flood zone information, relating to insurance information, in this field.

Property tax tracking

(Appears on real estate collateral types only.) If you need to track the status of property tax payments on this collateral item, choose Yes here. If not, choose No or leave the field blank. This field is used when printing the Collateral Information report as a way to print a list of only those items that are being watched for property tax payment status.

Last Date Paid

(Appears on real estate collateral types only.) Enter the date on which the last property tax payment was made.

Next Due Date

(Appears on real estate collateral types only.) Enter the date on which the next property tax payment is due.

Past due

(Appears on real estate collateral types only.) If you know that the property tax payment is currently past due on this item, choose Yes here. Otherwise, choose No or leave the field blank.

  • When the Property Tax Collateral report is run, the system will automatically update the contents of this field based on the date in the Next Due Date field. For more details about this report, refer to the Collateral: Tools for Tracking Property Securing Loans booklet.




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