Letter of Explanation
Get the Clarity You Need to Move Forward on a Deal
With IR’s Letter of Explanation, request more details from your borrower on any irregularities that pop up during the approval process – so you accurately and quickly determine whether to close the deal or move on to the next.
Reduce RiskAvoid losing a loan by getting the right answers you need to close the deal
Save TimeCustomize the form to fit your needs and underwriting guidelines for a faster process
Keep ClientsBefore passing on an applicant, give them a chance to explain their situation so they can still qualify
More ClarityGet a better idea of what may or may not have an impact on your lending decision
Get the whole story on derogatory tradelines, public records, new credit inquiries, and more!
Includes helpful instructions so the borrower can provide full and accurate explanations on any item
Automatically deliver the LOE with the TriMerge Credit Report or order it by itself anytime
“I’m closing more loans with fewer conditions thanks to Informative Research. To make the whole process easier for everyone, I now send my wholesaler a LOE for all derogs on every loan.”
– Landon S., Mortgage Banker