Overdraft Charges / NSF Charges
Updated: 10/10/2018
Article #: 138
It is underwriter discretion; however, we follow findings & not all banks report the YTD NSF fees on the statements or if we have a VOD we wouldn't know about NSF's If the underwriter feels it's a financial mismanagement they may ask for an LOE and/or more. Usually 1-2 NSF's in one month not a huge deal or if they are overdraft protection deposits where they have money in savings & bank just charges them a small fee to xfer not as big of a deal but it is all case by case.
Original Question:
Hello! I have a client that has 3 overdraft fees this year on her bank statements. Will this effect the loan?|
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