3420 Purchase Paid by Borrower Closing Adjustment other Credits Amount required

- When Loan Purpose is equal to Purchase, and Loan Closing Adjustment Item Section Type of 'PaidAlreadyByOrOnBehalfOfBorrowerAtClosing' is provided, and Loan Closing Adjustment Item 'SubSection' Type is equal to 'OtherCredits', the Loan Closing Adjustment Item Amount is required.

1. Open the loan file in Point.

2. Navigate to Forms > Loan Estimate from the top menu.

3. Use the Purpose dropdown to verify the selection is Purchase.

4. Navigate to the Closing Disclosure Pg. 3.

5. Scroll down to the Summaries of Transaction section.

6. In sub-section L. Paid Already by or on Behalf of Borrower at Closing verify any entries for Other Credits are completed, including Amounts.