Add Collateral to a Pending Loan Application

The step-by-step directions below explain how to add collateral to a pending loan application.

1. Launch Tool #2 Work/View Loan Application Status (LOANQ).

2. Select the application you’d like to add collateral to and select the option Work With Loan Request.

3. Select the application and the Work With Loan Request option again.

4. Select Complete Loan App.

   • This button will read External Loan App if the delivery channel was an external source.

5. Use Save/Continue to move past the co-signers screen.

6. Follow your credit union policy and procedures for pulling credit reports.

7. Select Update Collateral.

8. On the Collateral Selection screen, select the Collateral type.

9. On the Collateral detail screen, enter the information about the collateral.

10. Select Save/Update to save the collateral record.

11. Select Save/Done.

    • Select Confirm to move past the Loan App Check Results screen, if presented.

12. Select Save/Done.

Learn More

Collateral Tracking Tools