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Letters Of Explanations To Mortgage Underwriters And How To Write Them Borrowers who are either buying a home or homeowners who are refinancing their home loan go through the mortgage process by completing and submitting a mortgage application called 1003. Completing a mortgage application officially starts the mortgage process. The mortgage application, also known as 1003, asks information about income, debts, and assets It also asks disclosures such as if the borrower filed bankruptcy, had a foreclosure, had a judgment, had tax liens, or short sale It is of utmost importance that mortgage applicants answer these questions as accurately and truthfully as possible All information stated on mortgage application will be verified Letters of explanations to mortgage underwriters will need to submit on matters mortgage underwriters need clarification Read more https://gustancho.com/letters-of-expl...