Resolve for Fannie 3421 Freddie DQC2723 CRIT0065:
- 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 Other Credits, and the Loan Closing Adjustment Item Amount is provided, the Closing Adjustment Item Paid By Individual Full Name Or Closing Adjustment Item Paid By Legal Entity Full Name are required.
- An indication of who paid the closing adjustment 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 the Name of the Individual or Legal Entity paying the item.