9 External Check

Detailed information about the External Check stage in Collateral Perfection process.

In this stage, the Credit Officer verifies if the collateral submitted by the customer has an existing charge in the external system and captures the external check details.

External systems are maintained by the external agencies like CERSAI of India and Land Registry of UK to store the data of mortgage registrations. The lenders inquire these external systems online to check if there is an existing charge on a property.

The following data segments are available in the External Check stage:

• Collateral Summary
• External Check
• Comments

• Collateral Summary
  This topic provides systematic instrucions about the Collateral Summary data segment in External Check stage.
• External Check
  This topic provides systematic instructions about procedure to add external check details.
• Comments
  Information on the Comments data segment in the External Check stage.