Mortgage Underwriting Letter of Explanation: Test and Overview

Mortgage Underwriting Letter of Explanation: Test and Overview

By Brandon Cornett | © 2019, all legal rights reserved | Duplication prohibited

Reader question: “We have already been expected to publish a page of description for the mortgage lender’s underwriter, regarding a bank overdraft charge. They certainly were struggling to offer a template or sample for a mortgage page of description, however they did state to help keep it easy. How come mortgage brokers request letters of description, and do a sample is had by you template we could used to get going? ”

The page of description (or LOE for quick) is really a typical the main home loan underwriting and documentation procedure. Some borrowers panic whenever an underwriter requests this type of page, since they think the mortgage is likely to be denied. Continue Reading