Loan Screens > Bankruptcy and Foreclosure Screen Group > Foreclosure, Repossession and Judgment Information Screen > Notices and Sale tab > Foreclosure/Repossession field group

Entry: User, drop-down list

F/M: Yes

Mnemonic: FCSALS

Screen: Loans > Bankruptcy and Foreclosure > Foreclosure, Repossession and Judgment Information > Notices and Sale tab

Use this field to indicate the result of a sale of security (collateral) on the customer loan account.

Possible selections in this field are:

•Pending: A sale of security has been instigated and is pending final approval.

•REO (real estate owned): A property is owned by your institution after an unsuccessful sale at a foreclosure auction.

•Claim: The sale of security is being reviewed by claims, such as VA Post-Foreclosure claims, HAMP claims, partial claims, etc.