Posted by HisHughness on 10/30/12 9:25pm
Msg #441395

Does anybody know what the abbreviation LOX stands for? n/m

Reply by PegiT_MN on 10/30/12 9:27pm
Msg #441398

Letter of Explanation n/m

Reply by Shoshana/AZ on 10/30/12 10:48pm
Msg #441417

I thought LOE was for letter of explanation. n/m

Reply by Donna McDaniel on 10/31/12 11:07am
Msg #441444

Also, Liquid Oxygen. n/m

Reply by MW/VA on 10/30/12 9:28pm
Msg #441399

I think it's for "love & kisses". Obviously, not from one

of your "X's". LOL

Reply by MW/VA on 10/30/12 9:29pm
Msg #441400

Oops, depends on the contest. Obviously wouldn't be

a loan doc term. ;-)

Reply by PegiT_MN on 10/30/12 9:36pm
Msg #441402

Re: Oops, depends on the contest. Obviously wouldn't be

A mortgage underwriter requests an LOX (letter of explanation) from a borrower whenever clarification or more information is needed to assist them in making a determination on the approval of their loan. The following would be some examples:

Borrower to provide LOX for $30,000 deposit appearing on most recent bank statement.

Borrower to provide LOX as to recent credit inquiries.

Borrower to provide LOX as child support on divorce papers does not match child support deposits on bank statements.

Then the borrower has to write a letter of explanation telling the underwriter why those things are showing up so the underwriter can determine if they qualify for their loan or not.

Hope that helped you out Hugh.

Reply by HisHughness on 10/30/12 10:13pm
Msg #441413

Re: Oops, depends on the contest. Obviously wouldn't be

It did indeed. I had never encountered the term before. Many thanks.

Reply by NVLSlady/VA on 10/31/12 9:43am
Msg #441436

LOX

Wow . . . learn something new all the time! Been around mortgage banking/loan docs for many years and don't remember Ever seeing this "abrev." We used VOE / VOI (Verification of Employment, Income, etc.) Must have been added for Next Generation! LOL

Reply by Claudine Osborne on 10/30/12 9:37pm
Msg #441403

Re: Oops, depends on the contest. Obviously wouldn't be

Lox and cream cheese? Isnt that like an Irish thing?? Lol couldn't help myself..My bad!

Reply by jba/fl on 10/30/12 11:39pm
Msg #441422

Re: Oops, depends on the contest. Obviously wouldn't be

And capers!

Reply by jba/fl on 10/30/12 11:29pm
Msg #441420

Re: Does anybody know what the abbreviation LOX stands for?

Great breakfast fare with bagel & cream cheese.

Reply by bagger on 10/31/12 9:43am
Msg #441437

I thought it was Hebrew for Smoked Salmon. n/m