Troubleshooting for Gift Funds when Running DU and LP
LPA Gift Funds Source error for 1) Data _SourceDescription - Required Field - must contain at least one valid Gift Funds Source Type and 2) _Amount - Required field - must be numeric with two decimals and no special characters
- Ensure Source of Payment (field ID 34), Gift Funds (field ID 220), Gift Source (field ID MCAWPUR.X9) and the VOD entries match those values in field ID's 3015 + 3022 and Account type is listed as "Gifts Total"
- Ensure the Down Payment (field ID 1335) is not negative.
DU findings are reporting Gift Funds; however, the borrower does not have gift funds.
- Within the loan file, verify there are no values entered on the HUD-9200LT FHA Loan Transmittal under Gifts, field ID's 3008, 3009, 3010, 3011, 3012, 3013, 3014, 3015, 3016, 3017, 3018, 3019, 3020, 3021 and 3022.
- Once information is removed from these fields, re-run DU and the findings should no longer show Gift Funds.