Mortgage Underwriting Letter of Explanation: Test and Overview

By |May 4th, 2020|

Mortgage Underwriting Letter of Explanation: Test and Overview
By Brandon Cornett | © 2019, all liberties reserved | Duplication prohibited
Reader question: “We have already been expected to create a page of description for the mortgage lender’s underwriter, regarding a bank overdraft charge. They certainly were not able to supply a test or template for a home loan page of description, nevertheless they did state to help keep it easy. How come mortgage brokers require letters of description, and do a sample is had by you template we are able to used to begin? ”
The page of explanation (or LOE for brief) is a typical an element of the home loan underwriting and documents procedure. Some borrowers panic whenever an underwriter requests this kind of letter, because they believe the mortgage is likely to be rejected. […]