Configuring Loan Collateral Types (2)

Description

Enter a complete description of the collateral type. Descriptions are printed on various forms and reports.

This code determines which fields will display when the collateral item is being added to the system. Choose one of the following codes:

Vehicle (V) - to include fields such as Year, Make and Model and Title Tracking. When adding a vehicle collateral type you will use this screen.

Real Estate (R) - to include fields such as Location and Title Holder.  When adding a stock mortgage collateral type you will use this screen.

Stock (S) - to include fields such as Stock Type and Number of Shares (required for using the Stock/LOC Disb Value Adjustment feature).  When adding a stock collateral type you will use this screen.

Other (O) - to include generic fields applicable to all other types of collateral.  When adding an other collateral type you will use this screen.

Medallion (M) – used for Medallion collateral types or for collateral using the repricing feature. (NOTE: You can use the Medallion Repricing option to re-price the value of this Medallion Type.)

If this is checked, the "Title Tracking" field on the collateral detail screen will be checked by default when a vehicle collateral is added to a loan (on the Collateral Detail screen).  This will assist employees with ensuring that titles are tracked in the title tracking reporting on the Pledged Collateral Information report (Tool #587).

Use this to indicate whether this is an active or suspended collateral type.

Description

Use this to access a screen where you can configure a URL link and description of that link.