Any properties listed under the applicant(s) in the Properties section can be added as collateral for the requested loan.
Current Address as an owned property
If the applicant owns their Current Residence, you can select "Own" on the tenancy option under the Identification section. Doing so ensures the primary residence (Current Address) becomes an asset, and available to be added as collateral.
How to Add a New Property (as an asset)
To add a new property (as an asset), you can do so on the applicant's Assets and Liabilities page.
Navigate to the application.
Click on Properties under the desired applicant.
In the Properties section, click on "ADD PROPERTY".
In order to edit the property's information, simply click on the pencil/edit icon.
Properties set as Collateral AKA Subject Property
In order to set an Asset Property as a Subject Property:
1. Add a property for the applicant (see previous step).
2. Inside the Property card (clicking on the pencil/edit icon), check the "This property will be used as the subject property for the loan request" box.
3. This will add the necessary additional fields required for the subject property.
4. You then need to add that property on the loan itself. Navigate to the Loan Request page from the left side menu and scroll down to the bottom of the page to the Mortgaged Property section.
5. Click on ADD MORTGAGED PROPERTY and select your Subject Property from the list.
Note: The subject property will be listed below Transaction & Collateral on the left side menu.