Depending on whether you are writing a personal explanation to a lender or a professional credit memo, the structure of a credit write-up varies significantly. For Individuals: Letter of Explanation

: Be honest about risks; discuss "the bad and the ugly" rather than just the positive aspects.

: Lead with your loan quality rating and the specific rationale for approval or denial. Standard Credit Report Components How to Write a Letter of Explanation - Citizens Bank

: The borrower's own investment and any assets securing the loan.

: Identify the specific late payment, inquiry, or collection account.