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:
“If one mistreats citizens of foreign countries, one infringes upon one’s duty toward one’s own subjects; for thus one exposes them to the law of retribution.”
—Johann Wolfgang Von Goethe (1749–1832)
“Mr. Christian, it is about time for many people to begin to come to the White House to discuss different phases of the coal strike. When anybody comes, if his special problem concerns the state, refer him to the governor of Pennsylvania. If his problem has a national phase, refer him to the United States Coal Commission. In no event bring him to me.”
—Calvin Coolidge (1872–1933)
“Money is a poor man’s credit card.”
—Marshall McLuhan (1911–1980)
“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)