Troubleshooting for Gift Funds when Running DU and LP

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
  1. 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"
  2. Ensure the Down Payment (field ID 1335) is not negative.

DU findings are reporting Gift Funds; however, the borrower does not have gift funds.
  1. 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.
  2. Once information is removed from these fields, re-run DU and the findings should no longer show Gift Funds.

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