Collateral Identification (Mortgage) 12/14/17, 7(00 AM

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Collateral Identification (Mortgage)

Screen ID: ULNCLA-B
Screen Title: Collateral Identification
Panel Number: 4313

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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
and modifying an existing loan.
Screen Overview
These screens are used to modify or view details about a mortgage collateral item attached to a loan account. View this
screen to learn more about details of other collateral types. (SEE ALSO: Collateral Types)

Use Legal Description (F14) to enter the full legal description of this property. For other collateral types, use this to
enter any miscellaneous information about this collateral item. This button will have an exclamation point on it if any
comments have been added already.
Use HMDA Reporting (F17) to enter data to download for your (Home Mortgage Reporting Act) HMDA reporting.

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 (F5) 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.
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.

Location Enter the location (can be a legal description or an address).

Year acquired Enter the year when the collateral item was purchased or acquired by the member.

Title holder Enter the name of the person who holds the title on the property.

Estimated value The total estimated value of the collateral item.

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.

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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 is used, 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.

Other debt for Enter any other debts here. This is used to calculate the combined loan-to-value ratio. (see
combined LTV below)

Combined LTV using Combined loan to value amount. This is calculated upon entry. The following calculation is
other debt used:
For combined LTV, you must add the requested loan amount to the 'Other debt...' and then
divide by the 'Estimated value':
[(loan amount + other debt) / estimated value] * 100 = CLTV%

Escrow This checkbox will appear if the loan category is configured to allow for escrow accounts. If
this checkbox is checked, an escrow account is attached to this loan account.
Address Use these fields to record the physical address and Tax ID of the real estate property.
City
State NOTE: Use Legal Description (F14) to enter the full legal description of this property.
County This button will have an exclamation point on it if any comments have been added
Tax ID already.

Other debt desc Enter a description of the figure entered in the “Other debt for combined LTV field.

Insurance agent The insurance carrier for the collateral item, if any. Click the lookup button to display the
Insurance Agent configuration screen, where you can view existing agent codes as well as
create new agents if needed.

Insurance agents are configured using the Collateral Insurance Agent Cfg feature
(Tool #222: Collateral Insurance Agent Configuration).

Policy # Enter the policy number of the insurance of the collateral, if any.

Status The status of the insurance. Click the lookup button to choose from a list of available
codes:
Active (A)
Cancelled (C)
Expired (E)
No insurance (N)
These are standard system codes (stored in file SYSCTL), not credit union-defined.

Expiration date The insurance policy expiration date, if any.

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Premium amount The premium amount for the insurance, if any.

Premium frequency The frequency of insurance premium payments, if any. Click the lookup button to see a list
of your credit union's configured frequency codes.
Flood zone Enter the flood zone information, relating to insurance information, in this field.

Property tax tracking (Appears on real estate collateral types only.) If you need to track the status of property tax
payments on this collateral item, choose Yes here. If not, choose No or leave the field blank.
This field is used when printing the Collateral Information report as a way to print a list of only
those items that are being watched for property tax payment status.

For more details about tracking property tax information on your collateral items, refer
to the Collateral: Tools for Tracking Property Securing Loans booklet.

Last Date Paid (Appears on real estate collateral types only.) Enter the date on which the last property tax
payment was made.
Next Due Date (Appears on real estate collateral types only.) Enter the date on which the next property tax
payment is due.

Past due (Appears on real estate collateral types only.) If you know that the property tax payment is
currently past due on this item, choose Yes here. Otherwise, choose No or leave the field
blank.

When the Property Tax Collateral report is run, the system will automatically update
the contents of this field based on the date in the Next Due Date field. For more details
about this report, refer to the Collateral: Tools for Tracking Property Securing Loans
booklet.

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

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