A: A letter of explanation for derogatory items on a credit report should explain the circumstances that caused any late payments and why future late payments will not occur, according to Guston Cho Associates. Writers should make the letter concise and only address the items the mortgage underwriter would like clarified.

Sample Letter of Explanation for Anything Author: Sylvia M. Gutierrez Created Date: 7/17/2015 5:39:46 PM.

A letter of explanation for derogatory credit may help convince a creditor, employer or insurance company to favor the consumer’s new credit request. Use these sample letters of explanation for derogatory credit as templates for your formal letter.

Do you have a example of an explanation of derogatory info on. – Do you have a example of an explanation of derogatory info on a credit report? Asked by gerald_thomas66, Ocilla, GA tue jan 27, 2015. I am applying for a loan and the lender needs an explanation of derogatory info on my credit report.

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Here is a sample template for a mortgage letter of explanation:. It usually has to do with credit and underwriting requirements that are imposed by secondary.

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The ABCs of Writing a Letter of Explanation for a Mortgage. Fortunately, when your loan officer or an underwriter requests a letter of explanation, it doesn’t have to be a big stress moment. It’s common for mortgage underwriters to ask for a written explanation for certain situations or problem areas in your credit history, employment or other areas.

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A letter of explanation for derogatory credit may help convince a creditor, employer or insurance company to favor the consumer’s new credit request. Use these sample letters of explanation for derogatory credit as templates for your formal letter.

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Tips in providing a Letter of Explanation (LOX) Any and. – Letters of Explanation should be provided for the following situation in all cases: derogatory credit – regardless of how old, on all Government loans a letter of explanation should be provided to explain all derogatory credit.