Field

Description

Pre-Owned

Mnemonic: CFUSED

Use this field to indicate whether the collateral item being created/edited was owned before the customer owned it.

Insurance Required

Mnemonic: CFINRQ

Use this field to indicate whether insurance is required for the collateral item being created/edited.

No Insurance Coverage

Mnemonic: CFNOIC

Use this field to indicate whether the collateral item being created/edited has insurance coverage.

No Title

Mnemonic: CFNOTI

Use this field to indicate whether the collateral item being created/edited is connected to a title.

No UCC

Mnemonic: CFNOUC

Use this field to indicate whether the collateral item being created/edited is connected to a Uniform Commercial Code (UCC).

For more information about UCC, see Section 24.1.1 in the Loan manual on DocsOnWeb. UCC information is set up for collateral items on the UCC/Title Fields dialog (accessed by clicking the blue UCC/Title Info link on the Auto/Personal Property version of this screen).

Sold Out of Trust by Client

Mnemonic: CFSOLD

Use this field to indicate whether the collateral item being created/edited has been sold out of trust. An item is considered sold out of trust (SOT) if the proceeds of the item sale are not used to pay back the loan (and the lender is therefore unable to seize the loan collateral).

Cannot Recover Collateral

Mnemonic: CFCNRC

Use this field to indicate whether the collateral item being created/edited can be recovered by the lender.

Wrecked

Mnemonic: CFWRKD

Use this field to indicate whether the collateral item being created/edited has been wrecked or otherwise destroyed.

Deceased

Mnemonic: CFDDTE

Use this field to indicate whether the collateral item being created/edited has caused a death.

Out for Repossession

Mnemonic: CFOFRI/CFOFRV

Use this field to indicate whether the collateral item being created/edited has been repossessed.

If this field is marked, the Repossession radio buttons underneath will become available to indicate whether the repossession was Involuntary or Voluntary:

•If the customer willingly surrendered the collateral item to your institution, mark Voluntary Repossession.

•If your institution needed to track down the collateral item and take it back against the customer's will, mark Involuntary Repossession.

Police Repossession/Confiscated

Mnemonic: CFPLRP

Use this field to indicate whether the collateral item being created/edited has been repossessed or confiscated by the police.

Skip

Mnemonic: CFSKOT

Use this field to indicate whether the collateral item being created/edited should be skipped when processing payments or liens on the customer loan account.

Product Disposed

Mnemonic: CFDSPS

Use this field to indicate whether the collateral item being created/edited has been disposed of.

Change Of Collateral

Mnemonic: CFCHOC

Use this field to indicate whether the collateral item being created/edited has been changed from a previous collateral item. For example, if a car was sold and now the borrower is using a trailer to secure the loan, this field would be marked to indicate that this trailer was changed from the previous collateral item.

Equipment Problem

Mnemonic: CFEQPR

Use this field to indicate whether the collateral item being created/edited is experiencing problems such as mechanical failure or manufacturer recall.

Out for Transport

Mnemonic: CFOFRT

Use this field to indicate whether the collateral item being created/edited is currently in transit for repossession purposes.

Stolen

Mnemonic: CFSTOL

Use this field to indicate whether the collateral item being created/edited has been stolen.