Collateral Type Definition
Access this screen by selecting Tool #223: Collateral Type Configuration.
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This is the first of two screens used to set up Collateral Type Codes. A collateral type code is used mainly to classify the type of property used to secure the loan, and for grouping similar collateral types for reporting and custom inquiry purposes. Depending on the “Definition Type” chosen for each code, the Collateral Detail screen will change to describe the fields in a different manner. It does not, however, affect loan processing in any way.
An asterisk in the Suspended column means that the collateral type is suspended.
To create or modify a collateral type code, type any single-digit code letter or number and use Enter to proceed to the second screen.