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FHA changing collection account, judgments & disputed account guidelines (effective 10/15/13)

Established Contributor

Re: FHA changing collection account, judgments & disputed account guidelines (effective 10/15/13

It doesn't sound like it's really a big deal so just a simple LOE should work.
National Mortgage Banker.
VA Mortgage Expert.
Message 61 of 64
Contributor

Re: FHA changing collection account, judgments & disputed account guidelines (effective 10/15/13


VALoanMaster wrote:
It doesn't sound like it's really a big deal so just a simple LOE should work.

Thanks!  I sent you a PM as well with what I am thinking of saying for this.



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Message 62 of 64
New Visitor

Re: FHA changing collection account, judgments & disputed account guidelines (effective 10/15/13

 
Message 63 of 64
New Contributor

Re: FHA changing collection account, judgments & disputed account guidelines (effective 10/15/13


VoltaicShock wrote:
@VALoanMaster

 

Does the explanation really matter or do they just want to see someting in writing?

 

I am running into an issue now where there was a judgement against me but it was included in my BK and they still want an explanation.

 

This is what I was told to provide:

 

Letter of explanation: type it up and sign it please, simple sentences work, no need for crazy detail

 

To me it sounds like they don't really care and just want me to validate it?


That is correct...

 

There is no "Right or Wrong" way, your loan wont be denied or approved based on your letter.....

 

Its just a simple government requirement for the file.

 

The best advice is don't over think it...Just keep it simple! That's all they want.

 

Thanks,

Senior Mortgage Loan Officer in the states of Arizona & California
Message 64 of 64