The below outlines how to add a seller credit for a loan file.
Navigate to the Loan File: Start by opening the loan file to which you want to add a seller credit. This is typically done through your loan management system's dashboard or file directory.
Access the Closing Cost Tab: Within the loan file, look for the tab or section labeled "Closing Cost." This area of the loan file is designed to manage all costs related to the loan's closing.
Add a New Cost: Once in the "Closing Cost" tab, "Add Cost" button.
Cost Category will be Credit, with type Purchase Credit
Paid To - will default to be Borrower
Paid By - will default to Other, but you can change to Borrower
AUS Impacts:
Freddie Mac LPA requires that you set both Purchase Credit Type & Source, you may receive a warning if both are not set
