This DNAapp generates a report that lists all the loan accounts having active collateral associated with them. This report lists the calculated current depreciated value of collateral associated with an account, thus enabling the Financial Institution to evaluate and compare Current Value of collateral with Book Value (Property Value) and Market Value (Appraisal Value) of Collateral. The reported collateral value enables the Financial Institution to assess current position of the loan by comparing outstanding amount on the loan with current value of the corresponding collateral, which in turn helps the Financial Institution to take decision whether the associated collateral is in sync with outstanding loan amount
Once the SQT is installed as a DNA app, the SQT should be set up to run using the normal queue setup, making sure the required parameters are entered. To run the App, the user must provide a depreciation year for the depreciation calculation for collateral valuation to be included in the report. The user also has the option to provide multiple years for depreciation as comma delimited string. The Financial Institution can choose Collateral Depreciation Method (Straight Line Method or Diminishing Value Method) and Collateral Appraisal Type (e.g. Book Value, Re-inspection etc.) for latest market value. The user may provide one account major code or provide a set of account major codes as a comma delimited string.
Write Your Own Review
Only registered users can write reviews. Please, log in
This DNAapp is compatible with DNA 3.0 or higher. You will need to download and install the Configuration Toolkit which will configure DNA to load and manage DNAapps. This toolkit is included in the DNA release CD since DNA 3.3 and will be updated here whenever a more recent release is available.