My mortgage lender wants a letter of explanation for inquiries on my credit report Find answers to this and many other questions on Trulia Voices, a community for you to find andGet answers, and share your insights and experience.
You’re working on your mortgage application to secure a loan for your dream home. Then your loan officer tells you to write a letter of explanation about a few missed credit card payments from several years ago and your brief period of unemployment when your company downsized.
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Chances are the mortgage loan officer will write the letter of explanation for borrowers or coach borrowers on how to write the letter of explanations. Why Do Underwriters Ask For Letter Of Explanations Letter Of Explanations For Derogatory Items And Unpaid Collection Accounts
Address Discrepancy Letter is a letter of explanation where the borrower clarifies the current residential address and responds to any discrepancy in the address stated in credit report or other documents.
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· Ask the caller for their name, company, street address, telephone number, and if your state licenses debt collectors, a professional license number. You can also refuse to discuss any debt until you get a written
One last thing is that the letter must be hand signed, you can not send an email, the letter must be printed out, dated and then re-scanned or faxed. Spring Mortgage Broker 26214 Oak Ridge Dr. Suite B
Primary Residential Mortgage, Inc. provides information on payment options and answers to various mortgage payment-related questions. Read these articles.
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An "Inquiry Letter" is a standard request from your Lender when applying for a mortgage loan. We need to verify that no new credit has been established as a result of the inquiry—credit that may not yet appear on your credit report. All debt must be disclosed when applying for a mortgage loan.