What is his average credit score?
Most of the information of past payments and account balances to available balances will be reflective of the credit score that you receive. If a file is manually underwritten the score will have more of an emphasis as well as the past mortgage history, credit card debt, balances & intallment history as the underwriting guidelines will outline exactly what is acceptable but if the file is underwritten electronically through DU, DO, or LP some of the flaws in the credit or higher balances may be overlooked if the file has a stronger loan to value (LTV) or if there are strong assets. If a substantial derogatory item is present on the credit report, it may be necessary to secure an underwriter’s exception When an underwriter is asked to make an exception to credit policy they will be asking for whatever extenuating factors caused the derogatory credit. Examples would be job loss, accident, death in family.
