Initial Approval (Primary Valuation)
Once collateral has been evaluated, the system will calculate the loan-to-value ratio and compare it to the settings of the credit product.
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If the LTV value meets the requirement of the credit product, the loan can be approved for further processing - the APPROVE button becomes active. Once clicked, the loan will disappear from the Collateral workplace and can be processed further.
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Confirmation
Once the loan has been re-evaluated, it can be Confirmed.
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Please note that the system doesn’t take any automatic steps if the collateral value is not confirmed. If any additional actions have to be taken according to the company policy, the person responsible for doing it is the Collateral Manager. They can use Notifications functionality to escalate the issue if required.
Reject or Send for Reprocessing
Should the collateral details cause concerns or doubts, or deemed risky before it has been approved, the Collateral manager can Send the loan for reprocessing or Reject it.