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:
“Since every effort in our educational life seems to be directed toward making of the child a being foreign to itself, it must of necessity produce individuals foreign to one another, and in everlasting antagonism with each other.”
—Emma Goldman (1869–1940)
“The signs look better. The Father of Waters again goes unvexed to the sea. Thanks to the great North-West for it. Nor yet wholly to them.... The job was a great national one.”
—Abraham Lincoln (1809–1865)
“The solar system has no anxiety about its reputation, and the credit of truth and honesty is as safe; nor have I any fear that a skeptical bias can be given by leaning hard on the sides of fate, of practical power, or of trade, which the doctrine of Faith cannot down-weigh.”
—Ralph Waldo Emerson (1803–1882)
“I think a Person who is thus terrifyed [sic] with the Imagination of Ghosts and Spectres much more reasonable, than one who contrary to the Reports of all Historians sacred and profane, ancient and modern, and to the Traditions of all Nations, thinks the Appearance of Spirits fabulous and groundless.”
—Joseph Addison (1672–1719)