lot loan secured by the lot they already owned. On top of the LE, it is showing the address and value of the lot that they are pledging as collateral. We do not have any address for the lot they would like to purchase.
What would be the purpose of this loan and also, do I have to put TBD for the address since there is no address.

Thank you

If the loan funds will buy another lot, and that's it, it sounds like a "home equity" loan for TRID (yes, in reality it's a "land equity" loan, but that isn't an option under TRID). ETA: and this is assuming that you will NOT include the lot that they decide to purchase as your collateral. If you did, it would be a purchase for TRID.

You don't have to include the address of a property you aren't taking as collateral....are you taking the lot to be purchased or no?

nope, we are not taking the lot to be purchased. We are taking a lot that is already owned free an clear by the borrower.

Then it's a Home Equity for TRID and the address of the property being purchased doesn't matter (at least for TRID).

Thank you.

Agree with Raitch. You use the address for the existing lot for the "Property" field and this is a "Home Equity." Your system set up the LE correctly.