Resolve for Fannie Mae 3004 Freddie DQC115 CRIT0047:
- Interest Only Indicator is required. Provide the data as True or False.
- An interest only indicator is required.
1. Open the loan file in Point.
2. Navigate to Forms > Good Faith Estimate from the top menu.
3. Scroll down to the Summary of Loans section and click the Monthly Payment button.
4. Complete the Payment Adjustments portion as appropriate for the loan type.
5. Navigate to the Loan Estimate.
6. Scroll to and review the Loan Terms section.
7. Verify the Includes only Interest and no Principal until checkbox is now marked.
a. If this should be cleared for the loan, go back to steps 2 through 4 to remove any data entered in the Payment Adjustments portion of the Summary of Loan > Monthly Payment section.