Letter of explanation generator for mortgage files
Pick the topic the lender asked about, enter the borrower's own facts, and print a structured letter of explanation for the loan file.
Runs in your browser. What you type isn't sent or stored.
Build the letter
The borrower supplies the facts in their own words and signs the letter. Don't add anything the borrower hasn't confirmed.
Your letter
[Letter date] To: [Lender name] Re: [Borrower's full name], [Property address or loan number] Subject: Letter of explanation: Large deposit Deposit date: [Deposit date] Deposit amount: [Deposit amount] Account (last 4 digits): [Account (last 4 digits)] Where the funds came from, in the borrower's words: [Where the funds came from, in the borrower's words] Documents attached (whatever the lender asked for): [Documents attached (whatever the lender asked for)] Borrower signature: ______________________ Date: ____________ [Borrower's full name]
Questions
What topics does it cover?
Large deposits, NSF or overdraft items, employment gaps and address history. Pick one and the letter outline updates.
Does the tool write the explanation?
No. It structures the letter. The borrower supplies the facts in their own words and signs it. Don't add anything the borrower hasn't confirmed.
What should be attached?
Whatever the lender asks for. For a large deposit that may include records showing where the funds came from; confirm with the lender.
Will the lender accept the letter?
We can't say. The lender reviews the letter and any documents and makes the decision.
Ready for the real statements?
Upload 12 or 24 months of PDFs. StatementReady checks whether each statement's transactions add up to its printed balances.
This tool assists your review of the loan file. The lender makes all underwriting decisions.
StatementReady isn't affiliated with or endorsed by Fannie Mae or any lender named here.