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:
“Most of our occupations are low comedy.... We must play our part duly, but as the part of a borrowed character. Of the mask and appearance we must not make a real essence, nor of what is foreign what is our very own.”
—Michel de Montaigne (1533–1592)
“[D]rilling and arming, when carried on on a national scale, excite whole populations to frenzies which end in war.”
—Franklin D. Roosevelt (1882–1945)
“Laws remain in credit not because they are just, but because they are laws. That is the mystic foundation of their authority; they have no other.”
—Michel de Montaigne (1533–1592)
“The three-year-old who lies about taking a cookie isn’t really a “liar” after all. He simply can’t control his impulses. He then convinces himself of a new truth and, eager for your approval, reports the version that he knows will make you happy.”
—Cathy Rindner Tempelsman (20th century)