Collateral360 Glossary

Loan File: Refers to the location within Collateral360 where you manage Services, communicate with Vendors, upload files, etc. for a specific Site. It contains the Collateral Overview, Task Pipeline, Services pages (Valuation, Construction, etc.), Report Status page, File Manager, etc. Primarily used by ‘Vendor Manager’ and ‘Job Manager’ user types.

Site: The subject property, or subject properties, associated with a Loan File.

Service Request: Also referred to as an ‘SRF’  or a ‘Request,’ a Service Request creates a new Loan File which will be used to conduct due diligence activities for one or more Sites. This is typically submitted by an ‘Account Officer’ or ‘Lender User’ user.

Service: These are the specific due diligence items that are managed primarily within a Loan File. They are typically added when submitting a Service Request Form (SRF), or on the Task Pipeline once the Loan File has been created. Some are created automatically by Collateral360, depending on an organization’s settings. Examples of Services: Commercial Appraisal Report, Appraisal Review, Clear Capital Residential Evaluation, EDR Loan Check, etc.

Job: Refers to a Service you have procured from a Vendor, such as a Commercial Appraisal Report. This excludes Services which are purchased rather than procured (e.g., Clear Capital Residential Appraisal, EDR Loan Check, etc.) and also includes internal-only Services, such as Appraisal Reviews.

Request For Proposal: Also referred to as an ‘RFP,’ this is the form a user completes to request a bid on a Service from one or more Vendors, or to directly award a Vendor. These are typically, but not always, submitted by ‘Lender Manager’ or ‘Job Manager’ user types.  

Task Pipeline: The Task Pipeline is an optional feature that lists the Services associated with a loan file. The Task Pipeline is on the Collateral Overview page, immediately below the satellite-view image. The Task Pipeline contains several key features, defined below:

• Primary Assignee: The individual responsible for completing the requirements of the Service, such as procuring an Appraisal Report or completing a review.

• Additional Assignees: One or more individuals who play a supporting role in completing the Service.

• Status: Describes the current state of the Service, such as Awarded or On Hold.

• Start date: The date on which work was started for the Service. Note that this field is auto-populated with the date that the lender awards the Service to the vendor.

• Due date: The date by which work must be completed. Note that this field is auto-populated with the date that the lender awards the Service to the vendor.

• Completion date: The date on which work was completed. Note that this field is auto-populated when the user marks the Service as complete.

• Fee: The sum of all fees associated with the Service.