Explanation Letter for Mortgage Underwriter

September 18, 2050

Ms. Evelyn Thompson

Senior Mortgage Underwriter

Prime Mortgage Solutions

4567 Maple Street

San Francisco, CA 94102

Subject: Explanation Regarding Mortgage Application

Dear Ms. Thompson,

I hope this letter finds you well. I am writing to provide a detailed explanation regarding the mortgage application submitted on September 10, 2050, and to address any concerns that may have arisen during the review process.

Background of the Mortgage Application:

The mortgage application was submitted with the intention of securing a loan to finance the purchase of a new property at 123 Elm Street, San Francisco, CA 94103. The loan amount requested is $450,000, with a 30-year fixed-rate mortgage.

Explanation of Key Issues:

• Credit History Concerns:

  • Issue: There have been some discrepancies noted in my credit history, specifically relating to a few late payments reported in the last 18 months.

  • Explanation: The late payments were due to unforeseen medical expenses incurred by my family during that period. I have attached medical bills and insurance claims to substantiate these circumstances. I have since resolved these issues and maintained a clean payment record.

• Employment Gaps:

  • Issue: A recent gap in employment was noted on my application.

  • Explanation: I experienced a temporary job loss from June 2024 to August 2024 due to company downsizing. During this period, I utilized my savings and unemployment benefits to maintain financial stability. I have attached a letter from my previous employer confirming the employment end date and a recent pay stub from my current position at [Current Employer's Name], where I have been employed since September 2024.

• Income Verification:

  • Issue: Concerns regarding the accuracy of my income documentation.

  • Explanation: I have included the most recent tax returns, pay stubs, and bank statements to verify my current income. These documents reflect my stable financial situation and consistent earnings.

Attached to this letter, you will find the following documents for your reference:

• Medical Bills and Insurance Claims

• Letter from Previous Employer

• Current Pay Stub

• Tax Returns and Bank Statements

We are committed to ensuring that all aspects of our mortgage application are transparent and accurate. If there are any additional documents or further clarification needed, please do not hesitate to contact me directly.

Thank you for your attention to this matter and for your continued assistance with our mortgage application. I look forward to your favorable response.

Sincerely,

[Your Name]

[Your Number]

[Your Email]

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