NSF After Statements Sent to Underwriting

[josh088]

Hi Everyone,

We are in the process for applying for a USDA Guaranteed loan. We have supplied all of the needed documentation and our file is just waiting on the appraisal to come in today and it will be sent to underwriting.

In an oversight, I managed to get an NSF fee on one of our checking accounts today. (Forgot about an automated payment that was scheduled to come out and I did not transfer funds from our primary account in time. My question is, since our file is almost in underwriting, is this something I will need to worry about? It’s not on any of the statements we have supplied to the bank since it just happened today and the statement it will be on won’t be available until early January.

Thanks!

Josh

[germaine47]

MB did ask for additional bank statements once I started over on a new contract after 60 days.  I ended up giving 4 months of bank statements and 4 months of pay stubs.  They may not ask for any more information but it may depend on the underwriter.  If it is one isolated incident a letter explanation is all that may be required, remember that your loan officer is their to help you, If they ask for your statements just be upffront about what happened.

[josh088]

Thanks, it is an isolated incident and we had plenty of money on our other accounts, so i think a letter will be enough. Especially since we are scheduled not owe anything at closing... In fact we are suppose to be getting a check back at closing. Just trying to ease my concern about doing something dumb.