Letter of explanation sample

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This topic contains 5 replies, has 5 voices, and was last updated by  TTrumble 4 years, 3 months ago.

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  • #14007

    uniongladiator
    Participant

    I just had my first interview with my MC, and 4 letter of explanation (LOX) were requested. Does anyone have a sample letter that I could utilize? Thanks!

    #14026

    davidskye
    Participant

    My letters were pretty generic. I would say on each:

    To Whom It May Concern:
    The following is an explanation of…..

    I would then list the issue(s) I’m addressing and the explanation and that was it. Hope that helps!

    #14030

    rashad3000
    Participant

    Here is a partial sample of one of mine (true story, you need to do a LOX for NACA credit pulls):

    To Whom It May Concern:

    Please see the following inquiries:
    • NACA 1/23/15
    o Since the 90 days expired, a new credit report was required. Inquiry was to become NACA Qualified and submit Bank Application

    • Logix Federal Credit Union 11/7/14
    o Inquiry was to seek a credit card at a lower rate to complete a balance transfer.
    o No credit was granted, no debt was added.

    • EMS 11/6/14
    o NACA- Inquiry was to become NACA Qualified

    • Equifax Mortgage Services 11/6/14
    o NACA- Inquiry was to become NACA Qualified

    • NACA 11/6/14
    o Inquiry was to become NACA Qualified

    #14032

    davidskye
    Participant

    Good to know…it seems silly that they do lol but thanks for the heads up

    #14054

    Kristopher Fraley
    Participant

    My LOE’s were pretty generic as well. I had to write a bunch for things like name variances, address variances…some bank withdrawals and deposits….I wrote so many of them…in the beginning I was little bit more specific…. then I just started being more generic… and they were accepted.

    #14079

    TTrumble
    Member

    Agreed. Keep it simple.

    Tim Trumble
    Online Operations, NACA
    ttrumble@naca.com

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