Loan contract assets and collaterals

About assets

If the borrower is applying for secured loans, such as mortgage or vehicle loans, the loan must include collateral assets.

Origination flow

Asset

An asset can be added to a loan application or loan offer.

Collateral agreement

• When a loan offer is accepted, and there is an asset related to an offer, then a collateral agreement is automatically created with a loan contract.

• If a loan offer is accepted and there is no related asset, you can create a collateral agreement manually and add it to the loan contract.

In this guide, you will find information on how to manage the assets and collaterals in the BackOffice:

• Create assets,

• Add new assets,

• Add existing assets,

• Search assets,

• Edit asset details,

• Create collateral agreement,

• Find collateral agreement,

• Edit collateral agreement,

• Sign collateral agreement,

• Discard collateral agreement,

• Close collateral agreement.