VA with recent lates?

[Anonymous]

Hello to all.  I've searched the archives here and couldn't find a related question (at least with any reasonable answers).

Basically I am finishing training and am looking to use a VA loan.  Unfortunately, last fall (7 months ago) some of my federal loans fell out of deferrment for a couple months (60 days on the report).  I have no good excuse for this other than I didn't correctly resubmit the paperwork on time to keep the loans deferred.  Upon realizing the mistake I did get them back into deferrment but of course the recent lates are now on my report.

I am looking to get a VA mortgage in the next month or two.  Mid score 640.  Savings $15k.  Debt to income about 22% (looking at inexpensive house), all things considered.  

I have read on the internet that manual underwriting for VA mortgages was stopped but I can't see how this would be true. 

In short, any chance of getting approval or is 12 months set in stone?  No history of BK etc.

[DallasLoanGuy]

12 months not set in stone. automated underwriting can approve with lates.

va manual underwrite halted? news to me!

[Anonymous]

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@Anonymous wrote:

Unfortunately, last fall (7 months ago) some of my federal loans fell out of deferrment for a couple months (60 days on the report).  I have no good excuse for this other than I didn't correctly resubmit the paperwork on time to keep the loans deferred.  Upon realizing the mistake I did get them back into deferrment but of course the recent lates are now on my report.

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Who are the loans held by/serviced by?

What you're describing seems to happen a LOT. If you post *who* your loan-servicer on those student loans are, someone here (or in the Student Loans forum) might have contact info you could use to submit a "Goodwill adjustment" request (basically, a request to remove the late notations from your CRs as a gesture of goodwill towards you).

Getting those recent lates removed would more than likely bump your scores up by about 30 points. Plus remove your worry over those lates. Nice cushion for your sanity, right?!