Release Notes & iUpdates
Point of Sale
3114 Interest Rate Required on Adjustable Amortization
Resolve for Fannie Mae 3114:
- When Amortization Type is Adjustable Rate, the interest rate is required and must be 'NoteRatePercent' or 'DisclosedFullyIndexedRatePercent'.
1. Open loan file in Point.
2. Navigate to Forms > Truth-In-Lending (Reg. Z) from the top menu.
3. Scroll to the Rate Adjustments section.
4. Complete or verify any entered data.
5. Navigate to the Loan Estimate.
6. The appropriate data will populate into the Interest Rate fields of the Loan Terms section.