Foreign National Credit Reports
Lenders do prefer a credit report from the home country, although some will take 3 credit reference letters from the borrower. The credit report is much like our own in the U.S. but without scores as their scoring systems are different from our own. There are agencies in the U.S. that obtain the data, conform it to U.S. regulations and provide the background checks (verification of employment, verification of an existence of a company for self employed) and anti-money laundering, anti-terrorism, OFAC and red flag rules.
Read more about this topic: Foreign National Mortgage
Famous quotes containing the words foreign, national, credit and/or reports:
“I am ... willing to make it clear that American foreign policy must uphold the sanctity of international treaties. That is the cornerstone on which all relations between nations must rest.”
—Franklin D. Roosevelt (1882–1945)
“The word which gives the key to the national vice is waste. And people who are wasteful are not wise, neither can they remain young and vigorous. In order to transmute energy to higher and more subtle levels one must first conserve it.”
—Henry Miller (1891–1980)
“Most of the money given by rich people in “charity” is made up of conscience money, “ransom,” political bribery, and bids for titles.... One buys moral credit by signing a cheque, which is easier than turning a prayer wheel.”
—George Bernard Shaw (1856–1950)
“Journalism without a moral position is impossible. Every journalist is a moralist. It’s absolutely unavoidable. A journalist is someone who looks at the world and the way it works, someone who takes a close look at things every day and reports what she sees, someone who represents the world, the event, for others. She cannot do her work without judging what she sees.”
—Marguerite Duras (b. 1914)