We had an event that caused us to have multiple late payments on our mortgage account - The bank advised to not pay to get a loan modification (terrible advice and we should have known better). It has been 34 months since that event and we have not had any other late payments - any idea how that will be looked at in underwriting. All other factors are solid - 25% DTI and 12 months reserves, median score is 669 onthe FICO home score model. This is a portfolio loan but we have gotten mixed guidance. Seems like most want 12-24 months without any deliquencies - I am preparing a letter of explanation.
