Its commonplace today for lenders to require borrowers to address recent inquiries on their credit bureau reports. Recent credit bureau inquiries may indicate acquisition of new debt.
Since there ...
Its commonplace today for lenders to require borrowers to address recent inquiries on their credit bureau reports. Recent credit bureau inquiries may indicate acquisition of new debt.
Since there is a two to three month lag-time between the acquisition of new debt incurred and its presence on a credit bureau report, lenders are requiring written statements from borrowers affirming that no additional debt has been acquired since the credit bureau report was pulled.
Lenders feel that this is a necessary step in order limit default risk due to undisclosed debt service payments.
This is an example of a Letter of Explanation regarding Credit Bureau Inquries. We have provided you with the dates and companies of your latest credit bureau inquiries.
Please provide us with a letter specific to your inquiries and please let us know if youve incurred any new debt as a result of these inquiries.
I can be reached at 561-703-3454 or porcellimortgage@gmail.com
Like to rate videos and let people know what you think?
Automatically share your ratings, favorites, and more on Facebook, Twitter, and Google Reader with YouTube Autoshare.
Autoshare makes certain YouTube activities public on the services you choose. Select only the services you are comfortable with - like Facebook, Twitter, or Google Reader - to let your friends know what you like on YouTube. You can turn Autoshare off at any time.
Like to share videos with friends?
Automatically share your ratings, favorites, and more on Facebook, Twitter, and Google Reader with YouTube Autoshare.
Autoshare makes certain YouTube activities public on the services you choose. Select only the services you are comfortable with - like Facebook, Twitter, or Google Reader - to let your friends know what you like on YouTube. You can turn Autoshare off at any time.
This video has been removed from your Favorites. (Undo)
Like to Favorite videos and let people know what you think?
Automatically share your ratings, favorites, and more on Facebook, Twitter, and Google Reader with YouTube Autoshare.
Autoshare makes certain YouTube activities public on the services you choose. Select only the services you are comfortable with - like Facebook, Twitter, or Google Reader - to let your friends know what you like on YouTube. You can turn Autoshare off at any time.
Autoshare makes certain YouTube activities public on the services you choose. Select only the services you are comfortable with - like Facebook, Twitter, or Google Reader - to let your friends know what you like on YouTube. You can turn Autoshare off at any time.