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Hi our underwriter recently asked me to provide for a letter f explanation stating why the $265 income was not claimed on my 2015.

by acfvasquez786 from , California. 21 days ago Reply


But the thing is I did not notice that we completely left that out when I filed my 2015 tax returns. How do I explain to my underwriter that it was a one time mistake without putting our home loan in jeopardy?

21 days ago
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William J Acres (William_Acres)
#2 ranked lender in Arizona - 7,727 contributions

You just explained it.. To Whom It may Concern: Up until my applying for this mortgage, i was not aware that I had missed adding $265 in income on my 2015 returns. Now that I know, I will get with my tax professional and inquire what the necessary steps would be to correct this isolated, one time error. Something like this would work.. it's unlikely that it would cause your loan to be denied.. The underwriter is just covering all bases.. If your loan does get denied, then call me.. If this is the only issue, then i'm sure I can find a loan for you.. Also, It's your loan officers job to advise you.. including advising you on how to write letters of explanation.. He/she should have discussed this with you... I'm a preferred Lender with Arizona and California being my primary markets. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com NMLS# 226347 / RPM Mortgage NMLS 1541014 / AZMB0121893

21 days ago
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Joe Metzler (JoeMetzler)
#1 ranked lender in Minnesota - 3,411 contributions

You don't explain what the income was, but it generally isn't a deny the loan question, just something they need to get to put in the file. Just write a little story, sign it, and move on with your day.

21 days ago
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Phil Dumouchel (PhilDu)
#32 ranked lender in South Carolina - 2,224 contributions

Just answer the question, sounds like it was an oversight. for that small amount of money in 2015 they just want something for the file. Good luck!

21 days ago
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Michael Diaz (sincityloandr)
#59 ranked lender in Nevada - 25 contributions

That is just a letter of explanation to satisfy that. I am suprised you Loan Officer didn't handle that for you. The uw just needs to explain all items and document. If you have any problems with you loan or falls out contact me. We have a 10 day escrow saver loan to make your close by your contract date

19 days ago
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