727 transmission leak
Pro tip on finding tranny leaks. I clean the entire outside of the trans with brake kleen (or something similar) and tear a paper towel into little pieces and stuff them all around. As previously noted, some leaks start in one area and run around the pan rail causing you to believe the leak originated elsewhere. The little tufts of paper towel wick up the fluid and show you precisely where the leak is. Bear in mind there may be more than one.