Our bank statements show multiple ODPs here and there and our UW requested a LOE for this.
The ODPs occur because we've been aggressively savings and therefore, keep very little extra cash in our checking account (the rest is in our savings account) and we have a $0 balance CC set up with ODP. Therefore, any time we spend more than planned, rather than quickly making a transfer from savings and checking and then waiting, we would just allow an ODP transfer and then pay it right off.
Below is my draft LOE and I would love feedback. I want to provide the information needed, but also not provide too much and I also want to make it completely clear that this was not because we didn't have the $ or because we're irresponsible, it's just because we were being over-zelous savers 
Thoughts??
As of today, the Chase credit card that receives our overdraft protection (“ODP”) transfers has a balance of $0.
Over the past few years, and specifically the past 6 months, we have been aggressively saving in order to put ourselves in the best possible position to purchase a home. As a result, each time we received income, we would only leave enough money in our checking account to cover bills and basic day-to-day expenses and then immediately transfer all surplus money to our American Express savings account. Because this aggressive strategy left very little extra money in our checking account, from time to time, we would make unplanned purchases exceeding the amount left in our checking account, which would cause an ODP transfer to this Chase credit card.
Any time an ODP occurred, there was more than enough money in our savings account to cover the amount of the ODP transfers, however, because of the 2-day wait for transfers from our savings account to our checking account and because we knew we had ODP set up with this credit card, we were never concerned about the ODP transfers. In addition, every time an ODP occurred, we would immediately pay off the transfer to the Chase credit card, always returning that credit card’s balance to $0. I have also provided the most recent statement (February 15, 2012) from this account to show that ODP transfers which appear on our most recent Chase bank statement were paid off immediately, which brought the credit card’s balance to $0 before the statement close date.
