This request allows you to add collateral to a loan.
Click here to learn more about this request
Many lenders use collateral to secure their loans. Note the following when making this request:
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 VIN information to check for duplicates. It is impossible to add a new collateralized item with a VIN that matches an existing one.
Using the Loans endpoint does not allow adding Custom Fields to the payload. To add Custom Field information while adding collateral to a loan, take a look at our payload example listed below.
For an example of how collateral works within the UI, take a look at our Collateral and insurance tracking 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"
}
}
// Using the Collateral endpoint allows you to add Custom Field information.
POST https://loanpro.simnang.com/api/public/api/1/odata.svc/Collateral()
{
"collateralType": "collateral.type.car",
"vin": "AHGLS920KDK200214",
"a": "2021",
"b": "Honda",
"c": "Civic",
"d": "LX",
"distance": "40000",
"bookValue": "1400",
"color": "White",
"gpsStatus": "collateral.gpsstatus.notinstalled",
"gpsCode": "NONE",
"licensePlate": "License Plate Number",
"gap": "1125.25",
"warranty": "1254",
"loanId": "10040",
"CustomFieldValues": {
"results": [
{
"customFieldId": 64,
"customFieldValue": "Yes"
},
{
"customFieldId": 16,
"customFieldValue": "525.00"
}
]
}
}