Required and Optional Data

You must provide responses to all required data elements to complete the data collection process for a transaction. Required data elements are flagged to show that they are required. For example, a red asterisk may be displayed next to a required data element.

Tabs that contain missing required information are also flagged, so you can more easily identify where data collection must be completed. Depending on your platform system, the method for displaying the missing required information may differ.

Optional data elements do not require a response to satisfy the regulatory requirements of the transaction. Optional data elements are not displayed with any special visual styling.

In the following example, data elements that are required but do not have responses are shown in red text and are marked with an asterisk. The Collateral tab, which contains these data elements, is also marked with an asterisk.