How do Generalized Other Credits affect the Details of Transaction section of the Uniform Residential Loan Application (URLA) and Transaction Worksheet section of the Credit Application Real Estate Universal Credit Application Real Estate-HMDA (UCA-RE)?

The amount of any generalized other credits will need to be manually entered in l. Other Credits. In the application phase, this is the amount entered as Generalized Other Credits on the Calculations page. In the closing phase, the amount of generalized other credits could represent a sum of multiple items on the Closing Disclosure page (i.e. Gift Funds, Credits from a developer or home builder, etc.).

The amount defaulted for ‘Paid by Lender/Other’ in l. Other Credits is the total of Generalized Lender Credits and those fees where Paid By is Lender or Other. If a fee amount or Generalized Lender Credits amount is updated on the Calculations page, the ‘Paid by Lender/Other’ amount will also be updated. Once you change the ‘Paid by Lender/Other’ value on the Document Data page, it will no longer default from the Fees section found on the Calculations page.

The UCA-RE includes only two lines in l. Other Credits. When using this credit application, you may wish to adjust the defaulted total to include the generalized amount.