I just received my condition package from lender and they are asking for LOE for credit inquiries. I'm not sure exactly what 2 are except mortgage shopping and the other is my Verizon. When we moved to the area our phones weren't not picking up here so we switched services. We hadn't really looked at homes as I applied in June and moved in Aug and just found a house negotiated contract and ready to move forward. The cell phone bill is lower than old phone bill. How do I explain this in my letter.
I would explain the inquiries to your loan officer and ask them how they would suggest that you address them. Personally, I would explain it just the way you did. If it's just shopping for your mortgage and Verizon, it's not like you were on an app spree. Underwriters just want to have a 'make sense' explanation and your LO should be able to advise you.