Mortgage underwriting expectations

[Anonymous]

Hi, I’m under contract, paid my earnest, inspection and waiting on the appraisal. I filed chap 7 Bk two years ago and my current scores are 645, 680 and 690. I have several late payments on my student loans from 2014/15, but I haven’t had a single late payment in almost 5 years. I don’t have any collections either.

Here are my concerns:
I split my direct deposit between two accounts, my own personal account and second joint account with my teen daughter. I have several overdraft fees on the account that I share with my daughter. Each time the bank has refunded the money, due to me calling and begging and explaining my daughters irresponsibility. My main account has one overdraft fee from last year. How likely will my loan be denied once it goes to underwriting? Income is 77k and DTI is 25%.

[NC_Mtg_Loaner]

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You are likely to only need a detailed LOX for the overdraft fees.

If it's not too late, you might even be able to exclude the joint account with your daughter and save any need for explaining the multiple incidences. 

Congrats.

[Anonymous]

I think the lenders only look at last 2-3 months on statements. If they're past that the lender may not even request anything from you.