Either way, one credit inquiry will likely only lower your credit score by five points or less, so it may not even be a concern if you already have a solid credit score. Of course, mortgage inquiries can and will affect consumers differently based on their credit profile, so there’s no absolute rule.

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LOX is often requested by mortgage underwriters, especially on applicants with prior bad credit, a prior bankruptcy, a prior foreclosure, a prior deed in lieu of foreclosure, and a prior short sale; Letter of explanations to mortgage loan underwriters will be required for the following: recent credit inquiries; late payments; irregular or large.

Credit Inquiry Letter Borrower Name: _____ Loan #: _____. are to address the inquiries on the credit report associated with. I/We understand if anything changes re garding the information I have provided prior to loan closing I/We will notify the loan originator immediately..

There are times when a mortgage underwriter needs a letter of explanation for one or more items in your loan package. Letters are often needed to explain a credit problem such as the circumstances.

Say you apply for a mortgage or prequalification letter to buy a home. what’s called an LQI (Loan Quality Initiative) credit pull to make sure there have been no changes in your report, including.

LETTER OF EXPLANATION – CREDIT REPORT INQUIRIES A number of inquiries are showing on our credit report in the last 90 days. All credit related inquiries are only because of our shopping for mortgage loans. We have not incurred any new debt or obtained a mortgage loan during this period. amit khosla 5/12/2010 priya khosla 5/12/2010

"Most often, this occurs when you are applying for a loan," Aiken said. "Other hard inquiries may be. Send your letter by Certified Mail, Return Receipt Requested." If you decide to approach the.

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How to write a credit inquiry letter. This video is about explaning the credit inquiries you have had on your personal credit in the last 120 days. You may wonder.who’s business is it on whether.

I’ve been aggressively paying off debt and building my credit, so I check my free credit score at least once a month. And.

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