Loan Security Shortfall
Introduced in Version 13
If loan to security value ratio falls below a specific value, a Loan Security Shortfall is automatically created for that specific loan.
To access the Loan Security Shortfall list, go to:
Home > Loan Management > Loan Security > Loan Security Shortfall
A Loan Security Shortfall contains the details about:
- Loan: The Loan against which there is a Loan to security value shortfall.
- Shortfall Time: The time at which the shortfall record was created.
- Status: The status of the shortfall. Pending is the default status and it changes to Complete once a payment is made or additional security is pledged against the loan to satisfy the shortfall.
- Loan Amount: Loan amount is the pending loan amount which is used for shortfall calculation.
- Security Value: Security Value is the current pledged security value.
- Shortfall Amount: Shortfall amount is the difference between the loan amount and the security value which needs to be repaid to complete the shortfall.
Additional Loan Security can be pledged against a loan from the Loan Security Shortfall itself via the Add Loan Security button on the top right.