This request allows you to add collateralcollateral - Individual or company property securing repayment of a loan. This property may be forfeited in the event of a default on the account. Within LoanPro, you can secure a loan with up to 50 items of collateral or none at all. to a loan.
General
Many lenders use collateralcollateral - Individual or company property securing repayment of a loan. This property may be forfeited in the event of a default on the account. Within LoanPro, you can secure a loan with up to 50 items of collateral or none at all. to secure their loans. Here's what you need to know about collateral:
- The
Collateral
object is nested within theLoans
entity. - Up to 50 items can be collateralized on a single loan. Loans can also have no collateral.
- The system uses VINVIN - Vehicle Identification Number. No two vehicles will have the same identification number. information to check for duplicates. You won't be allowed to add a new collateralized item with a VIN that matches an existing one.
For an example of how collateral works within the UI, take a look at our Add Collateral Information article.
Database
For information on collateral database tables, see the following articles:
- Database – Collateral Entity (collateral_entity)
- Database – Collateral Field Entity (collateral_field_entity)
{
"Collateral": {
"results": [
{
"a": "2017",
"b": "Suzuki",
"c": "VS750GLP",
"d": "Base",
"additional": "Information",
"collateralType": "collateral.type.car",
"vin": "JS1VR51A5H2151359",
"distance": "25000",
"bookValue": "2408.59",
"color": "White",
"gpsStatus": "collateral.gpsstatus.notinstalled",
"gpsCode": "NONE",
"licensePlate": "License Plate Number",
"gap": "1125.25",
"warranty": "1254",
"positionId": 1
},
{
"a": "2020",
"b": "Honda",
"c": "Accord",
"d": "LE",
"additional": "Information",
"collateralType": "collateral.type.car",
"vin": "JS1VR51A5H2151359",
"distance": "13000",
"bookValue": "24708.59",
"color": "Blue",
"gpsStatus": "collateral.gpsstatus.notinstalled",
"gpsCode": "NONE",
"licensePlate": "License Plate Number",
"gap": "0",
"warranty": "0",
"positionId": 2
}
]
}
}
// This is the old payload that we've left working for backwards compatability.
// The response is still updated, however, and it now automatically assigns a position ID to the new collateral.
{
"Collateral": {
"loanId": "515",
"a": "2017",
"b": "Suzuki",
"c": "VS750GLP",
"d": "Base",
"additional": "Information",
"collateralType": "collateral.type.car",
"vin": "JS1VR51A5H2151359",
"distance": "25000",
"bookValue": "2408.59",
"color": "White",
"gpsStatus": "collateral.gpsstatus.notinstalled",
"gpsCode": "NONE",
"licensePlate": "License Plate Number",
"gap": "1125.25",
"warranty": "1254"
}
}
Try It Instructions
Our requests often provide sample payload information so that you can receive a 200 response from simply hitting the Try It button. This request requires a bit of input from you if you want to try it for yourself here. Since the system uses VIN information to check for duplicates, you will need to add a new, unique VIN to the
vin
field.If you’d like to see a sample of a 200 response, click the response examples located under the Try It button.