A copy of the Gift Letter (Cx17342) prints for up to four gift amounts entered per borrower in Processing and Verification document packages when the “Gift Letter” indicator (field 40622) is set to “Yes”. A default copy of the Gift Letter (Cx17342) prints for the first borrower even when there are no gift amounts that populate for them. The document will be updated to only print the first borrower’s first gift default copy if there are no other borrowers with gift amounts populated on the loan.
For example, currently if the first borrower has no gift, but the second borrower has a gift, two copies of the Gift Letter print. One default copy for the first borrower’s first gift, and one populated copy for the second borrower’s first gift. After the update, only one populated copy for the second borrower’s gift will print.
To summarize, a copy of the Gift Letter will still print for each borrower’s gift amount that is populated. If no borrower’s gift amounts are populated and the document prints, a default copy will still print for the first borrower.
This document change will be in effect on December 8, 2017. If you have any questions or concerns about this change, please contact Client Support at 1.800.497.3584.