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Reply To: Construction Funds

#34732
jholzknecht
Keymaster

We are not quite clear on your question. You state the examiners want the construction funds in the “payoff” section of the LE and CD. There is a “payoff and payments” section in the optional alternative cash to close section. Please clarify the “payoff” section.

The construction costs are disclosed differently on the LE and the CD, and are disclosed differently in the regular cash to close transaction or in the optional alternative cash to close.