Get Address Variation Letter

What is letter of explanation for address variance? A letter of explanation (sometimes called an LOE or LOW) is a document requested by mortgage lenders when they want more details about your financial situation.

There is no specific format as such to the Letter of Explanation. The LoE is a single document which should be short, concise and factual (ideally 1 page, maximum 2 pages) and addresses any issues there may be in your application. LoE is only required to explain something that is not apparent and needs clarification.

The purpose of the Address Discrepancy Letter is to confirm the correct residential address and obtain clarifications for other reported addresses. A lender may typically ask for this letter when the current residential address provided on the loan application is different than the address shown on the credit report.

The key to writing a great letter of explanation is to keep it short, simple and informative. Be clear and write with as much detail as you can since someone else will need to understand your situation. Avoid including irrelevant information or answers to questions the underwriter didn't ask.

A “notice of address discrepancy” is a notice sent to a user of a consumer report (including landlords and property managers) by a nationwide consumer reporting agency (“NCRA”, e.g. Experian, Equifax and/or TransUnion) notifying the user (you) that the address provided by the user to obtain the report “substantially ...

A letter of explanation is a written, signed and dated document you prepare to address questions a mortgage lender may have about your loan application.

Definitions of standard letter a letter that a person, company, or institution always uses for a particular purpose. It is sent to more than one recipient with only minor changes to each letter (eg the date, the name of the recipient, the reference number etc).