The position of the mortgage is determined by the order of the liabilities on the assets they encumber.
First, ensure the collateral is added to all applicable loans, if not, you will need to add the existing mortgage as an encumbrance on the collateral. Within the application, go into each loan to ensure the collateral has been added. Follow the steps below in order to do this:
Navigate to the Loan by clicking Loan Request from the left side navigation menu.
Scroll to the Mortgaged Property section of the loan and click ADD MORTGAGED PROPERTY.
You will then see a pop-up window that lists the available assets that can be added as collateral. Click ADD next to the appropriate collateral.
NOTE: If you do not see the ADD MORTGAGED PROPERTY button, click the arrow on the right side of the section to expand the window.
Review and Set the Position
To review the order, navigate to the subject property and take a look at the mortgages.
Click on the subject property address from the left side navigation menu under Transaction & Collateral.
Scroll down to the Mortgages section of the property.
You can edit the position by clicking on the position drop down.
