Medallion Collateral Type Configuration
Access this screen by selecting Tool #490: Medallion Collateral Configuration.
SEE ALSO: Collateral: Tracking Property Pledged to Secure Loans booklet for more details on Medallion Type collateral.
(NOTE: A PDF of the booklet will open when you click on this link.)
This screen is the entry screen to Medallion Collateral configuration. Medallion collateral types are specifically designed for use with when taxi cabs (the license to drive them) are used as collateral. Medallion collateral types allow you to tie multiple Medallions to a single collateral record. You could potentially add 99 Medallions to a single collateral record, and then add or remove Medallions from the collateral to automatically adjust the Total Loan to Value. That way if a borrowing member sold a Medallion, you do not have to redo the loan or collateral.
Using the “Re-Price Medallions” feature, similar to the “Update Investment Market Price,” collateral value can be periodically adjusted and the system automatically updates all the Medallion collateral records, recalculating LTV ratios.
First select #1 to create the Sub Types to categorize your Medallion Type Codes. Then return to this screen, and select #2 to create your Medallion Codes.
Select #1-“Configure medallion subtypes (for grouping similar medallion types)” to create a sub type and advance to the Medallion Sub Type Configuration screen.
Select #2-“Configure medallion type codes” to advance to the Medallion Type Codes configuration screen.