Process ROPA Function - Introduction

Real and Other Properties Acquired (ROPA) refers to properties that banks or financial institutions acquire as settlement for unpaid loans or overdue accounts from borrowers. These properties are obtained through foreclosure, dation in payment(the legal act of giving or conferring), or other means, with the intention of recovering their value primarily through sale.

Upon identifying the collateral items to be treated as ROPA, this function will come in handy to allow users to process it, as follows:-

  1. Request or book a collateral item as an ROPA item (via 'New Request' task card)

  2. Review, propose and approve on ROPA items (via 'Pending Approval' task card)

  3. Select ROPA items to repossess it, update related information and upload related documentation (via 'Pull Out' task card)

  4. Proceed to update the repossession status of the ROPA item, in order for related outstanding amount to be reversed and related accounting entries to be raised upon the end-of-day (EOD) process (via 'Take Up' task card)

Once the collateral item of related credit facility accounts have been successfully processed as a ROPA item, all outstanding in the respective account will be settled, the status of these credit facilities account will be updated to 'C - Closed', while the status of the collateral will be updated as ' K - ROPA'.