Letter of explanation – sky falling – myFICO Forums – 783339 – But with that they asked for a letter of explanation for 3 large deposits. I was able to show a paper trail for 2 of them and no, a rich uncle did not give it to me. These deposits were legit. The 3rd deposit also legit (no gift money here either). The problem is back before the recession I put.
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You'll need to verify large deposits into your bank account when you. In addition , expect to get a letter from anyone who gave you money for.
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In trouble with large deposit and FHA loan approval. (sales. – I’m two weeks away from closing and the bank are asking for a letter of explanation of a large cash deposit to my account. This cash deposits comes City-Data Forum > General Forums > Real Estate: In trouble with large deposit and FHA loan approval.. In trouble with large deposit and FHA loan.
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Letter of Explanation – Large Deposits – Blend Help Center – When is a Large Deposits letter of explanation NOT triggered? If the source of a large deposit is identifiable from the asset statement and is an acceptable source of funds, no further explanation or documentation is required from the borrower. Examples of acceptable sources include: Payroll deposits from an employer
Money Matters: Be prepared to explain those large deposits. – "I know you have $200,000 in the bank and you only need $68,000 to settle on the home, but we can’t move forward until we know where this deposit for $1,300 came from. I will need a letter of explanation, the deposit slip, a copy of the check and maybe even the account as to where the check came from." Ouch! Moronic! Stupid!