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:
“The whole object of travel is not to set foot on foreign land; it is at last to set foot on one’s own country as a foreign land.”
—Gilbert Keith Chesterton (1874–1936)
“Let us put an end to self-inflicted wounds. Let us remember that our national unity is a most priceless asset. Let us deny our adversaries the satisfaction of using Vietnam to pit Americans against Americans.”
—Gerald R. Ford (b. 1913)
“It is probable that the principal credit of miracles, visions, enchantments, and such extraordinary occurrences comes from the power of imagination, acting principally upon the minds of the common people, which are softer.”
—Michel de Montaigne (1533–1592)
“He who is only a traveler learns things at second-hand and by the halves, and is poor authority. We are most interested when science reports what those men already know practically or instinctively, for that alone is a true humanity, or account of human experience.”
—Henry David Thoreau (1817–1862)