In a March 8 letter, the Directors of the company. The A-G said it had received no valid explanation for the contract variations and noted crimes may have committed in the government-financed.

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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Loan officers or other assisters tend to simplify. For borrowers who are too busy or unable to write, the explanation can be dictated to the loan officer or processor and certified by the borrower as true before closing. Letters of Explanation should be read for substance, credibility, and whether flexibility is justified.

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How to Write the Letter of Explanation. While the Letter of Explanation isn’t extremely formal, there is a specific format you should follow and certain information you must include. This will give you the best chance of the underwriter accepting the letter and approving your loan file.

This letter will not help a desperate credit situation, but may make a difference in a marginal one. Explaining a couple late payments could mean the difference between a good interest rate and a fair one. The basic premise of this explanation letter is to address: The situation you were in which caused you to pay late was beyond your control.

Letter of Explanation Requirements Will Vary by Lender. Perhaps there’s a deposit for $10,000 in the account, which doesn’t quite line-up with what you make in the way of salary. It seems a little out of place, even if it’s entirely legit. The underwriter may ask that you explain that deposit to ensure it’s kosher,

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Check your letter for spelling, grammar and formatting issues before you submit it, and follow your loan officer’s instructions. A letter of explanation helps your lender understand you better. Use it as an opportunity to show that you are a responsible borrower who can manage big financial obligations like a mortgage.

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How to Write Letters of Explanation for mortgage underwriting step. review the underwriter’s request for a letter of explanation. Provide the date and a greeting, such as "To Whom It May Concern" or "Dear Sir or Madam.". Describe the circumstances that led to your late payment or the causes for.