(Guides) Updated Oct 7, 2026 · sources linked
NSF and
overdraft limits.
A file with strong deposits can still fail on NSFs. Most of the lenders we track publish a cap on occurrences in the most recent 12 months, and several tighten it when one falls in the last three months.
(01) Tolerances
What each lender publishes.
| Lender | Counted | Any in the last 3 months | None in the last 3 months |
|---|---|---|---|
| Newfi | NSF/OD occurrences, most recent 12 months; one or more on a day = 1 | Max 3 | Max 5 |
| Verus | Returned checks; one or more on a day = 1 | Up to 3 | Up to 5 |
| A&D | Returned items or a negative balance on a day = 1 | Max 3 | Max 6 |
| Acra | Returned checks (NSF); overdrafts don't count | Max 6 in 12 months | Max 6 in 12 months |
| Deephaven | Any NSF activity in 12 months | Must be explained | Must be explained |
| Angel Oak | No numeric limit in the public material we found | — | — |
(02) Counting
Items vs occurrences.
Newfi, Verus and A&D count occurrences per day: three returned items on one day are one occurrence. A statement's NSF count is usually items, so a file that looks over the limit may not be. Check same-day items before you rule a file out.
DepositDesk counts NSF items per month and says so on the worksheet; it doesn't merge same-day items for you.
(03) Worked example
Four NSFs, two outcomes.
4 occurrences in the last 12 months, one of them last month → Newfi, Verus and A&D cap at 3: over. The same 4 with none in the last 3 months → caps of 5, 5 and 6: within. Acra: 4 returned checks is within its 6; overdrafts aren't counted. Deephaven: explain all four.
(04) Over the limit
What to do.
An exception usually needs a borrower letter of explanation and compensating factors, at the lender's discretion. Waiting until the recent three months are clean can move a Newfi, Verus or A&D file from the tighter cap to the looser one.
(05) Sources
Read the lenders' own documents.
- Newfi Wholesale: Newfi Lending Rainier Matrix, effective for locks on/after Feb 19, 2026, rev. Mar 3, 2026 (pp. 17, 29–37) · how DepositDesk applies it
- Newfi Wholesale: Non-QM submission checklist, bank statement · how DepositDesk applies it
- Verus Mortgage Capital: Correspondent Non-Agency Seller Guide §2.7.6, Nov 11, 2024 · how DepositDesk applies it
- A&D Mortgage: Non-QM Loan Eligibility Guidelines §6.6.8, Sep 24, 2026 · how DepositDesk applies it
- Acra Lending: Acra Lending bank statement calculator, version v20250102 (from the broker resources page) · how DepositDesk applies it
- Deephaven Mortgage: Bank statement features sheet, Jan 19, 2023 · how DepositDesk applies it
- Deephaven Mortgage: Wholesale underwriting guidelines §8.3–8.4, effective Jan 10, 2022 · how DepositDesk applies it
Guidelines change without notice; dates are shown on each lender page. DepositDesk is independent and isn't affiliated with, endorsed by or approved by any lender named here. This guide is general information for mortgage professionals, not underwriting or legal advice.
(06) FAQ
Questions brokers ask.
How many NSFs are allowed on a bank statement loan?+
It depends on the lender. Newfi and Verus allow 3 occurrences in 12 months if any fell in the last 3 months, otherwise 5; A&D allows 3 or 6; Acra allows 6 returned checks and doesn't count overdrafts; Deephaven requires any NSF to be explained.
Do overdrafts count as NSFs?+
At Newfi (NSF/OD) and A&D (a negative balance on a day) they do. Acra's calculator counts returned checks only; overdrafts don't count.
What is an NSF occurrence?+
Newfi, Verus and A&D count days, not items: one or more returned items on the same day is one occurrence.
(07) Keep reading
Related guides.
(Next step)
Run the numbers on a real file.
Drop in 12 or 24 months of statements and DepositDesk builds the worksheet with these rules applied, every exclusion explained. Your first file is free; statements never leave your browser.