Personally I feel that by using an asset as collateral the person is essentially “realizing” the gain (the person is formally and contractually saying the asset is worth at least this much and using it to exchange something of value, even if only in case of default) and should pay capital gain tax for however much the gain was based on assessed collateral value minus the cost basis. And the cost basis steps up to the assessed collateral value.
For me the deciding factor of how much honest feedback to provide in the exit interview is determined by who is interviewing me. If it is a routine step of the HR checklist, then most likely the feedback is not really going to have any impact and it is not worth the effort (and also potential risk, however small that may be) to provide detailed comments. However, if the exit interview is conducted by someone whom I trust and has potential pull within the leadership org (manager, manager’s manager, director, VP , etc.) then I am more than happy to give a detailed list of what’s good and what’s bad.