Loan Collateral Item Detail (Stock)

Screen ID: 

Screen Title: 

Panel Number:

images\kb_closed_shg.gif

ULNCLA-C

Collateral Identification

2327


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Check out the video related to this topic: Adding Collateral to a Loan (More videos below!)

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.

Visit Show Me the Steps to learn how to modify an existing loan.

Screen Overview

These screens are used to modify or view details about a collateral item attached to a loan account. This screen is used to modify or view details about Stock (S) collateral item attached to a loan account.. The fields available will vary depending on the type of collateral item being modified. (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 (F10) 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.

SEE ALSO: Collateral: Tools for Tracking Property Securing Loans booklet.

(NOTE: A PDF of the booklet will open when you click on this link.)

Field Descriptions

Field Name

Description

Collateral type

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

SEE ALSO: Configuring Collateral Types

Description

A description of the collateral item. For automobile or similar collateral types, use this field to enter the make of the vehicle (e.g., “Ford” or “Toyota”).

Additional desc

For automobile or similar collateral types, use this field to enter the model of the vehicle (e.g., “Taurus” or “Camry”).

For stock collateral types, use this field any way you wish to describe the collateral being pledged.

Stock type

For stock collateral, enter one of your credit union's configured stock type codes.

# of shares

For stock-type collateral items, enter the total number of shares being pledged.

Estimated value

The total estimated value of the collateral item.

  • For stock-type collateral, calculate and enter the current value of the stock shares.

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, 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.

Insurance agent

The insurance carrier for the collateral item, if any. Click the lookup button images\magnifyingglasslookup_shg.gifto 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, if any.

Status

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

A Active

C Cancelled

E Expired

N No insurance

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

Expiration date

The insurance policy expiration date, if any.

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.

Additional Video Resources

View more lending videos.

Visit the Show Me the Steps video library to view more videos!

 

 

Link to ID: https://help.cubase.org/cubase/cubase.htm#ULNCLA-C.htm