Navigation:  Loan Screens > Account Information Screen Group > Additional Loan Fields Screen > Origination/Maturity tab > Pledged for Collateral

Entry: System, checkbox

F/M: Yes

Mnemonic: LNPLCL

Screen: Loans > Account Information > Additional Loan Fields > Origination/Maturity tab

 

This field answers the question, "Is this loan pledged to FHLB for collateral?" If checked, the loan will be reported to FHLB through a magnetic tape as collateral. If not checked, the system will not report the loan to FHLB, except if GOLDPoint Systems has set up parameters for your institution to do so. All collateral loans should be set up with the Pledged for Collateral field checked.

 

An option is available on the FHLB collateral tape. You can request that the Appraisal Amount always be used, instead of using the lesser of the Appraisal Amount or the selling price on the loan. Thus, the Appraisal Amount may not always be specified on the collateral tape, based on what is entered on the loan record.

 

If you want to always use the Appraisal Amount, please send in a work order with your request.