Add Collateral

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 the Loans 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:

{
  "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"
    }
}

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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.

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Click Try It! to start a request and see the response here!