Letter Of Explanation For Bankruptcy Due To Divorce

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Review the underwriter’s request for a letter of explanation. Your mortgage loan officer or a loan processor who prepares your application for underwriting, can provide you with a copy of that request. It’s usually one of several underwriting conditions you must meet to gain full loan approval.

Letters of Explanation – mortgagestraightTalk.com – Letters of explanation may be requested for a variety of reasons. What follows is an alphabetical arrangement of the most common examples of requests for Letters of Explanation and satisfactory supporting documentation.. divorce. marital credit issues can be documented with a divorce decree.

A letter of explanation is a 100-word letter that sits on file at the three major credit bureaus; TransUnion, Experian and Equifax. This letter then gets sent out to anyone requesting a copy of your credit report, providing context for any negative credit entries.

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A letter of explanation (LOE) is a fairly common occurrence in the mortgage underwriting world, and they’re not always a bad thing. Lenders and underwriters sometimes ask for these letters in order to document something, to obtain more information, and to satisfy the requirements imposed by FHA, VA, Freddie Mac, etc.

Letter Explaining Reasons for Bankruptcy – In response to your letter regarding the reasons for my bankruptcy from which I was discharged 18 months ago, this is in regard to my recent application for a loan with your company. Why ARIAD Pharmaceuticals Needs an SEC Investigation – In a letter to Ariad Chairman Harvey Berger, the resigning directors justified their action by saying: Due to our vigorous disagreements. It was 5:30 AM in San Francisco when the ARIAD explanation.

Other situations where letter of explanation to mortgage underwriters may be required is a prior housing event such as a prior foreclosure, deed in lieu of foreclosure, or short sale The letter of explanation can simply state that the reason for the foreclosure, deed in lieu of foreclosure, or short sale was due to the following: