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Mortgage Underwriting Letter of Explanation: Test and Overview

Mortgage Underwriting Letter of Explanation: Test and Overview

By Brandon Cornett | © 2019, all liberties reserved | Duplication prohibited

Reader question: “We were expected to create a page of description for our mortgage underwriter that is lender’s regarding a bank overdraft fee. These people were not able to supply a test or template for a home loan letter of description, however they did state to keep it easy. How come mortgage brokers request letters of description, and do you have got a test template we can used to begin? ”

The page of explanation (or LOE for quick) is really a part that is common of home loan underwriting and paperwork procedure. Some borrowers panic whenever an underwriter wants this kind of page, since they believe the loan is likely to be rejected. But that’s not necessarily real. Lees verder Mortgage Underwriting Letter of Explanation: Test and Overview