Source funds separation of loans funds and purchaser equity
There is a problem with the banks uploading source funds consisting of loan funds and purchaser equity (where there is authority for shortfall) as one line. This really needs to be separated. We had a bank under quote available funds by nearly $100,000.00. They then apologised and updated the available loan funds. Then the bank concerned added the purchaser equity uploaded the total funds required into one line. We have no way of checking how much of the shortfall funds the bank has taken from the purchaser's nominated account and I cannot sign off on a matter without that confirmation. This needs to be fixed up.