Issue

Gift of Equity does not automatically appear as verified assets in Encompass LOS, unlike Gift of Cash. This can cause problems during final Clear to Close (CTC) when there appear to be insufficient assets.

Solution

To properly display Gift of Equity as verified assets in Encompass:

Step 1: Add to Other Assets Section

1. Navigate to the URLA Other Assets section
2. Enter the Gift of Equity amount as "Pending Net Sale Proceeds from Real Estate Assets"
3. This entry will automatically include the amount in Verified Assets calculations

Step 2: Add to Gifts Section

1. Also enter the Gift of Equity in the Gifts and Grants section of the URLA
2. This ensures proper documentation of the gift

Important Notes

• Verified Funds is an official Encompass calculation that only includes assets deposited into bank accounts
• Since Gift of Equity is marked "No" for deposited, it cannot be included as a traditional verified asset
• Using "Pending Net Sale Proceeds from Real Estate Assets" is the workaround that allows Gift of Equity to count toward verified assets
• Both entries (Other Assets and Gifts sections) are required for complete documentation