Hello,

Is there any guidance as to where the amount provided from the bank to a borrower as a "gift" be disclosed on the LE and/or CD? I don't think it's a lender credit (general or specific) because it is not provided by a third party. Thank you!

Gift? From the Bank? That is called a lender credit.

Thank you Randy. It's for down payment assistance.

So, it is actually coming from the bank and not a third party?

Yes, this is coming from the Bank. There are other programs that the bank offers where there is assistance tp the borrower provided by a third party, however, I am being told that this is a gift from the bank.

OK - then yes - it would be just considered a lender credit from a TRID perspective. Direct down payment assistance from the lender is just a little unusual.