Submit a new letter of explanation. Ask your mortgage officer or broker, if you have one, for feedback on other information ...

Key takeaways. A letter of explanation for a mortgage is a document that addresses red flags that might derail a mortgage approval, such as a period of unemployment or an unpaid credit balance.

Key takeaways. A letter of explanation for a mortgage is a document that addresses red flags that might derail a mortgage approval, such as a period of unemployment or an unpaid credit balance.

Sample Letter of Explanation If your lender asks for a letter of explanation, you’ll want to state what the issue is and, if needed, describe how it was resolved. You won’t need to write a ...