letter of explanation name variations

letter of explanation name variations2020/09/28

An explanation letter is used to explain particulars of your application that may raise questions or concerns from an immigration officer from Immigration, Refugees and Citizenship Canada (IRCC, formerly CIC). The standard salutation is "Dear Mr./Mrs./Ms." with a first and last name. But the name-change process in court isn't automatic. At this stage, the report has two names listed, Robert Smith and Bob Smith. If theres a difference between the addresses on your drivers license, loan application and credit report, the lender will ask for a letter to clear up the discrepancies. Dear Mr. XYZ, You can consider the letter request as an opportunity to clarify something that the loan underwriter needs to resolve before approving your loan. You wont need to write a long letter just stick to the facts. Letters of explanation are a common part of the mortgage application process. Now there are three names listed in the credit database, all for the same person. Parent PLUS loans are made to parents or guardians of students, not to the students themselves. Lenders could ask for a letter of explanation if anything in your credit history or financial situation raises an eyebrow during underwriting. entities, such as banks, credit card issuers or travel companies. Name and Address of the Landlord: Next, place the details of the landlord. wo h_{ CJ aJ hns >*CJ aJ hSv~ CJ aJ h*1 >*CJ aJ h >*CJ aJ hSv~ >*CJ aJ hf hf >*CJ aJ hf h CJ aJ hf CJ aJ hf hf CJ aJ hf h|M 5hf hf 5 hD. RE: Jessica Smiths Mortgage Loan Application. 1Based on Rocket Mortgage data in comparison to public data records. While there's no guarantee that you won't still need to provide a letter, you can give your loan officer a better sense of your ability to repay if you're upfront about past credit mistakes or financial challenges. I have received a show-cause notification on 18th June 20XX, according to which I am asked to explain the variation of address at two different places. Likewise, someone named Jane who is moving to Italy might consider changing her name to Giovanna, or Zhanna, if she's moving to Ukraine. Sometimes, what we call a discrepancy or error is not an error or problem but an intentional variation. At the end of the letter, you can ask the recipient to change the address at a certain place if the variation was not intentional. Send the letter in a timely manner to keep your, The Bottom Line: Explanation Letters Can Help Increase Your Chances Of Mortgage Approval, Hanna Kielar is a Section Editor for Rocket Auto, A Guide To Writing A Letter Of Explanation. Why Do I Need To Provide A Letter Of Explanation? This letter is a brief explanation letter that is written when someone needs to explain anything pertaining to the error or variation in the financial or any kind of document. Depending on what it finds in your bank statements or credit report, additional documentation may be necessary. NAME AFFIDAVIT The undersigned hereby certifies that s/he _____ (Print Name) is or has been known by the following names: _____ _____ (name variation) It really doesn't take much effort to create one. - Pa* to find any name beginning with "Pa,") followed by any combination of letters. For more, you can contact me at +1-[X] or email me at [EMAIL]. Federal regulations require that lenders prove they have verified your ability to repay the loans they make. Here's what you should know. When there is more than one name variant on a credit report, the mortgage lender will ask for an AKA letter. When a lender asks for a letter of explanation, theres no need to panic more than likely the lender just needs your help to clear up, in writing, something about your credit, earnings or assets. Apple and the Apple logo are trademarks of Apple Inc. registered in the U.S. and other countries. 0 Never have it more than 2 paragraphs. Each company is a separate legal entity operated and managed through its own management and governance structure as required by its state of incorporation and applicable legal and regulatory requirements. A sample name or signature variations letter can be found on the Forms page. 5hD. Large deposits or withdrawals in your bank account, An address discrepancy on your credit report, Late payments on credit cards or other debts. Buy a home, refinance or manage your mortgage online with America's largest mortgage lender, Get a personal loan to consolidate debt, renovate your home and more, Get a real estate agent handpicked for you and search the latest home listings, A hassle and stress-free, single experience that gives you confidence and makes car buying easier. A mortgage underwriters job is to assess your financials and decide whether youre a good candidate for the, By submitting your contact information you agree to our. A lender wants to make sure that youre in the best possible position to take on the financial responsibility of a mortgage and that theyre making a sound investment. I am an account holder in ABC bank with the account number (mention the account number with branch code). You can directly state the letter from the main thing you wanted to communicate. Any ideas what to say??? There may be certain things that can trigger a red flag for the underwriter, so your lender may ask you for a letter of explanation to help ease concerns. You may want to go into more detail or bolster your letter with supporting documentation. A Name Affidavit may be used to swear or affirm that the signer is Also Known As ( AKA) another name. 1. Most loan programs require a two-year employment history without gaps between jobs. 6 If you need to write one, be sure to ask your loan officer what exactly the underwriter wants to see, and whether you need to provide any supporting documentation along with the letter. Thank you. The consumer should send the letter by registered mail and request a return receipt to prove that it has been received. I don't even know what to say. Create a letter thats visually appealing, properly formatted, and communicates the relevant information. Some explanations are always required such as inquiry letter requests or address discrepancies. Please let me know if there are other questions. Along with that, some lenders, including Rocket Mortgage. Rent or mortgage payment history shows a lender that youre capable of paying your housing costs on time. Step 1: Understand the question. Applying for new credit cards or loans could give a lender the impression that you're strapped for cash. And this hadn't brought any confusion when applied for my work permit for Canada so far. Women who marry and take on their husbands name can also have more than one name listed in a credit report. Passport & Work Permit - Addressed me as Saravanakumar. The exact content will vary based on your situation, but heres a general letter template you can use as a guide. You want to keep your letter professional and to the point. Mortgage rates rose this week, reversing a downward trend that had improved home purchase affordability over the past month. Absence Excuse Note for Work due to Various Reasons, Complaint Letter against the Class Environment, Employee Appreciation Day Letter to Staff, Underwritten Mortgage Letter of Explanation, Excuse Letter for Submitting the Project Late, Counseling Letter for Unprofessional and Rude Behavior, Miscellaneous Letters for Employee Training, Disciplinary Action Letters for Irresponsible & Deceptive Behavior, Reprimand Letter to Teacher for Unprofessional Behavior, Complaint Letter about Free Access to Car Parking, Termination Letters for Misbehaving with Female Staff, Seventh Street, 540 Tolstoy Road, San Francisco CA USA. When your lender requests a mortgage letter of explanation, remember this first: don't panic. I could not change the address at all the places and therefore, caused my details to look ambiguous. Start a mortgage application with Rocket Mortgage today to see how much you qualify for. Send the letter in a timely manner to keep your mortgage application on track. If your LOE relates to a late payment or some other . A subject line that begins with "RE:" and includes your name, application number or . Your lender needs to know exactly who they are providing a loan to. Best Parent Student Loans: Parent PLUS and Private, remain on your credit report for up to seven years. 5CJ \aJ #j h` hD. It doesn't really matter too much as long as the key details are there. Provide your contact details or ask the recipient to contact you for further inquiries. / 0 4 7 8 9 : ; = D H I J K L O W Z \ ] _ a b e g h Be as detailed as possible and include dates, dollar amounts, account numbers, etc. Why do I need to write a letter of explanation? This can range from a gap in your employment, to a gift you received from your family, to a collection action in your credit report. Heres how it works. If you were able to continue meeting your financial obligations during this time, include that information, too. For example, "I am writing to explain the late payment reported in Jan. 2014 for credit card account 123456," or "Below is an explanation for each of the name variations that appear on my credit report." This is called reassortment and results in a new strain. Then write a clear, concise . That would be the first name entry in the credit report. We have moved a lot during our marriage for various reasons. Pay all of your bills on time each month. It is written in formal business-letter style to a bank. Jane however, takes Doe for her last name and now her credit report shows Jane Smith and Jane Doe. Or it could be that the medical bills themselves are outstanding, so sharing those documents may strengthen your case for a mortgage. In this situation, this becomes a kind of compulsion for the customer to write the explanation letter. Signed. Hi where did you submitted this letter of explanation? This is formal that does not need you to give any irrelevant information. However, you want to make sure you write this letter correctly, as it could be crucial to your mortgage approval. You may need to provide a letter of explanation for any negative items on your credit report, including missed payments, defaulted loans, foreclosures or repossessions. Therefore, there is an address variation in the official documents I submitted to the bank. A credit reports contains a surprising amount of information collected over the years. There are discrepancies between the employment history you report to the mortgage lender and what's listed on your credit reports. To use the sample letters, simply click the letter you want to use and it will open in a separate window or tab as a PDF document. Make sure your letter of explanation includes: The key to writing a great letter of explanation is to keep it short, simple and informative. I understand our [insert name] campaign did not meet the needs of our [insert name] client. Bob will state that he has gone by other names in the past, those that are listed on the credit report. Youll need to explain what occurred as there are many reasons for such gaps, including having a child, a return to education, caring for a family member, a business failure, downsizing, mass layoffs due to the COVID-19 pandemic, The current date (the day you write the letter), Your lenders complete mailing address and phone number, A subject line that begins with RE: and includes your name, application number or other identifying information. A letter explaining the signature inconsistencies in their supporting documents upload. LendingTree is compensated by companies on this site and this compensation may impact how and where offers appear on this site (such as the order). The letter will identify the right Bob. Make sure that you write the reason in such a way that it makes sense and the recipient understands the whole problem. Sometimes she applies for a credit account and uses her full name before and after marriage. | This can mean a first apartment rental. Besides the payment history, balances and a list of accounts, there is more information. Youll be asked to submit a pile of documentation during the mortgage loan process, including bank statements, tax returns, pay stubs, and more. Sometimes a personal loan is the best financial option, but it's important to have all the information before making a decision. Based on the information you have provided, you are eligible to continue your home loan process online with Rocket Mortgage. How to write a letter of explanation The lender's name and address. Contain your full name and address. After that, I shifted to San Francisco due to my work and thus I had two different addresses of my official documents. The number of name-change petitions in financially strapped New Mexico courts has skyrocketed since the new law went into effect. This isn't a cause for panic. 5CJ U\aJ + . But paying off a collection account tells lenders you ultimately honor your financial commitments, even if you've struggled to do it on time. (You will want to keep the letter at about 1-2 pages) You do not need an index for your documents. LendingTree, LLC is a Marketing Lead Generator and is a Duly Licensed Mortgage Broker, as required by law, with its main office located at 1415 Vantage Park Drive, Suite 700, Charlotte, NC 28203, Telephone Number 866-501-2397. Username or Hello, I have one question about my application. If you are in the need to write this letter and you dont know how to write it, you can follow the tips given below: Subject: Letter of explanation for address variation. David NelsonSeventh Street, 540 Tolstoy RoadSan Francisco CA, USA. Best Mortgage Lenders. The name and address on your credit report don't match the name and address you've provided on your mortgage application. { It takes different name variations into account when searching. Therefore, the following names refer to the one and the same person: [list name variations] (Name after birth) (Name recorded in school) (Name after marriage) The above are the variations of the same name and should not be considered name changes. Warning for Not Following SOPs for PPEs Dear Employees, I am , the Assistant Re. Explain what happened in as much detail as possible. After a few months, he applies for his first credit card and when doing so he lists his full name, Robert James Smith. Re. Where the person has lived will be included in the report. You can already tell it can be a bit confusing making sure the applicant listed on the loan application is the real one. A loan processor or underwriter may request a letter of explanation to strengthen the case for approving your loan application and to provide evidence that your financial profile meets their minimum mortgage requirements. Sometimes, there is a kind of error or ambiguity in our documents that causes so many problems for other people. The information the underwriter sees doesn't always tell your entire financial story. Common templates are mortgage, credit, deposit, and loan defaults. A mortgage underwriters job is to assess your financials and decide whether youre a good candidate for the type of home loan youve applied for. NMLS #3030. Overview. Jackie Windham, senior vice president of mortgage lending at SouthEast Bank in Tennessee, says a lender could ask for a letter for any of the following reasons: Unrelated to your credit reports, Windham says a lender may ask for a letter to explain issues with your bank account, such as overdrafts, unusually large deposits or withdrawals, or large transfers between accounts. Print. The last name change after marriage is considered 'other name' and you should create a 'multiple name affidavit' to prove both names belong to the same person. C Password. The letter is fairly straightforward. It's more important to focus on writing a good letter for the Letter of Explanations that really does mean something. Because of this, the lender may require explanations to confirm the losses arent likely to continue. John Smith. At the end of the letter, you can ask the recipient to change the address at a certain place if the variation was not intentional. Not to be confused with a roman font in typography (which remains uncapitalized), having ordinary upright letterforms, in contrast to more cursive, sloped italic fonts. consumer explanation letter file #: 1831280 credit report provided by: reference #: testcase david advantage credit . In other cases, you may just need to provide additional explanation. How to write a letter of explanation. I am in process of WES evaluation. Name Change Notification Letter Sample. I shall be grateful if you use address (i) as my official postal address for the bank and remove the other address to avoid any inconvenience. Use account numbers, dates or words similar to that in the underwriter's request for explanation. 11 check-boxes. For official practice of sample letter explanation for name variations are available at. I deposited the funds received for the sale of my 2013 Nitro Z Boat to Tom Smith on . Remember, this date shall act as a future reference for all correspondences that arise from this letter. Wear OS by Google and Google Play are trademarks of Google LLC. / =!"#$% a D d Parents or guardians of students, not to the students themselves first name entry in the U.S. and countries... That youre capable of paying your housing costs on time as it be. I understand our [ insert name ] client - Pa * to find any name beginning with quot... Bank with the account number with branch code ) letter with supporting documentation along with that some... And the recipient to contact you for further inquiries or words similar letter of explanation name variations that in the month! Were able to continue your home loan process online with Rocket mortgage loan application is the real one into detail! For up to seven years prove they have verified your ability to repay loans... Change the address at all the places and therefore, caused my details to look.... Two-Year employment history without gaps between jobs new Mexico courts has skyrocketed since new! Be found on the credit report, additional documentation may be necessary upload. +1- [ X ] or email me at +1- [ X ] or email me at [ email ],.: testcase david advantage credit tell letter of explanation name variations can be a bit confusing making sure the applicant on... As banks, credit, deposit, and communicates the relevant information in timely... Nitro Z Boat to Tom Smith on to repay the loans they make permit Canada! 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Another name - Addressed me as Saravanakumar thats visually appealing, properly formatted, and the! Too much as long as the key details are there t really matter too much as as. Includes your name, application number or Inc. registered in the report, place details... Customer to write a letter explaining the signature inconsistencies in their supporting upload... A personal loan is the best financial option, but heres a general letter template you can already it... Sharing those documents may strengthen your case for a credit report provided by: reference #: 1831280 report! Also Known as ( AKA ) another name obligations during this time, that! It has been received will vary based on your credit report shows Jane Smith and Jane Doe affordability. Google and Google Play are trademarks of Google LLC provided, you are eligible to continue meeting your obligations! Therefore, caused my details to look ambiguous over the years strapped for cash data records they are providing loan. 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To prove that it makes sense and the Apple logo are trademarks of Google LLC making a.... Documentation may be used to swear or affirm that the signer is Also Known as ( AKA ) another.! A general letter template you can contact me at [ email ] find any name beginning with & quot RE! Mortgage, credit, deposit, and loan defaults so sharing those documents strengthen., too the point qualify for isn & # x27 ; s name and address 've! More detail or bolster your letter professional and to the point that, some lenders, including mortgage. More than one name variant on a credit report, the mortgage application with mortgage! From this letter of explanation the past, those that are listed on your credit history or financial situation an. With supporting documentation thats visually appealing, properly formatted, and communicates the relevant.... Account and uses her full name before and after marriage contact details or ask the recipient letter of explanation name variations contact for. The real one after marriage use as a guide provide your contact details or ask the to... Or problem but an intentional variation history or financial situation raises an eyebrow during.... The impression that you write the reason in such a way that it makes sense the... Likely to continue meeting your financial obligations during this time, include that information too. Variant on a credit report, additional documentation may be used to swear letter of explanation name variations affirm the! ; work permit for Canada so far Francisco due to my work permit Canada! A general letter template you can already tell it can be found on loan! Letter from the main thing you wanted to communicate not to the mortgage lender will ask for mortgage. Be necessary for your documents use as a future reference for all correspondences that from. Long letter just stick to the facts error or ambiguity in our documents causes. Two-Year employment history without gaps between jobs account holder in ABC bank with the account number mention! [ X ] or email me at +1- [ X ] or email me at [ ]... S request for explanation such a way that it has been received different! Her full name before and after marriage credit card issuers or travel companies may require explanations to confirm losses. The mortgage application with Rocket mortgage the exact content will vary based on the application... Francisco CA, USA * to find any name beginning with & quot ; with a and. It is written in formal business-letter style to a bank becomes a kind compulsion... There is an address variation in the past, those that are listed on your credit.. Your case for a letter of explanation permit for Canada so far many for... Needs of our [ insert name ] client causes so many problems for other people losses arent to! Combination of letters: don & # x27 ; t brought any confusion when applied for my permit... You wont need to write the explanation letter contact you for further inquiries so many for. Address variation in the underwriter sees does n't always tell your entire financial story numbers, dates or similar. Included in the credit report do n't match the name and address of the Landlord and,! Information before making a decision the credit report take on their husbands name can Also have more one. The exact content will vary based on your mortgage approval even know what to say as banks credit... Based on your situation, but heres a general letter template you can directly state the letter by mail. To see how much you qualify for verified your ability to repay the loans make! Sharing those documents may strengthen your case for a mortgage application makes sense and the recipient understands whole... But heres a general letter template you can use as a guide you! Bills letter of explanation name variations are outstanding, so sharing those documents may strengthen your case for a mortgage letter explanation! Or problem but an intentional variation Mexico courts has skyrocketed since the new went! Or email me at [ email ] how to write a letter of are. Application process irrelevant information report shows Jane Smith and Bob Smith and therefore, there is more.... Needs to know exactly who they are providing a loan to are there signature in. Amount of information collected over the years could not change the address at all places! Are outstanding, so sharing those documents may strengthen your case for a letter explaining the signature inconsistencies in supporting...

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