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This subsection provides instructions on how to revalue collaterals.
The revaluation of collateral specified in a loan application is initiated as follows:
Automatically if a valuation period of a collateralized property has expired (for more information on how to specify a valuation period, refer to the Valuing Collaterals subsection above).
In this case, the check mark is displayed for the Needs Valuation property opposite the Revaluate action type of a corresponding collateralized property of the loan application.
Upon request of the Collateral Manager.
Once a collateralized property has been valued (for more information, refer to the Valuing Collaterals subsection above), the Collateral Manager has the possibility to revalue it prior to the end of a specified valuation period. In this case, the check mark is not displayed for the Needs Valuation property next the Revaluate action type of a corresponding collateralized property.
To revalue collateral:
1) Above the table displaying the list of loan applications, click the All split button and select a required menu item to filter the loan applications.
2) In the table, click a corresponding loan application.
On the right-hand side of the workplace, the Collaterals tab displays collaterals specified for a selected loan.
3) On the Collaterals tab, select a collateralized property which value is to be revalued.
4) Click the Revaluate button.
The window displaying properties of a selected collateralized property opens:
The window also displays a valuation history for the selected collateralized property:
5) In the Valuation area of the open window, specify the following information:
An estimated value of the collateral;
Note: | If necessary, a current market value of the collateral can be requested by clicking the Request market value button. In this case, the Estimated Value box gets populated with a corresponding value automatically. |
(Optional) A valuation period of the collateral in months.
The valuation period determines a time period (from the moment of last valuation) after which the collateral will have to be revalued.
(Optional) Comments if necessary.
6) (Optional) In the Valuation Documents area, click Choose file to attach a document used for This revaluation of the collateral.
7) Click OK to confirm the revaluation.
The selected collateralized property has been successfully revalued.
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