Request Collateral - Loan Service App

This endpoint initiates a request for the borrower to transfer the required collateral associated with a loan. It is typically triggered once the underwriting process is successfully completed and the loan has been approved. What it does:

Signals the borrower to deposit collateral assets
Links the collateral to the corresponding loan
Updates the loan status to reflect pending collateral transfer

When to use it:

After underwriting approval and risk assessment
Before disbursing the loan amount
To ensure adequate security is received for the loan

Request Body

The request body must include the unique identifier of the loan for which collateral is being requested:

{
  "loanId": "0x5a0c0663a48e3abf16c7f0ee632b57da833e44e02a290fc0920ea2858da31f73"
}

Response

Returns a confirmation of success along with the blockchain transaction hash:

{
  "transactionHash": "0x5a0c0663a48e3abf16c7f0ee632b57da833e44e02a290fc0920ea2858da31f73"
}