topic Re: NSF fees PLEASE ADVISE in Mortgage Loans

NSF fees PLEASE ADVISE

Anonymous — Wed, 05 Apr 2017 18:23:25 GMT

I am applying for a mortgage and score is now at 670. My debt to income ratio is extremely low but I don't have a lot of accounts. I had $72 in NSF fees in March that the bank took off and the branch manager listed their contact information and is willing to speak to the underwriter. Is this going to hurt me? I'm going to have a nrevous breakdown before this is over.

Re: NSF fees PLEASE ADVISE

ShanetheMortgageMan — Wed, 05 Apr 2017 18:28:24 GMT

You will need to explain the NSF fee, the underwriter won't take a phone call from the branch manager, they only accept items in writing.

Most lenders won't have a problem with NSF fees as long as it's not reoccurring. If this was a bank error, then I wouldn't be worried.

Re: NSF fees PLEASE ADVISE

Anonymous — Wed, 05 Apr 2017 18:32:52 GMT

It was my error, but not sure how they recorded it. They credited my account and just wrote clerical error.

Re: NSF fees PLEASE ADVISE

Anonymous — Wed, 05 Apr 2017 18:35:25 GMT

Would it help if I included an additional 30 days in my paperwork?

Re: NSF fees PLEASE ADVISE

ShanetheMortgageMan — Wed, 05 Apr 2017 18:41:54 GMT

Lender's require the last 2 months of bank statements for each account you are using to qualify, so at this point Feb/March would be needed.