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 sincerely hope that the incoming Congress will be alive, as it should be, to the importance of our foreign trade and of encouraging it in every way feasible. The possibility of increasing this trade in the Orient, in the Philippines, and in South America is known to everyone who has given the matter attention.”
—William Howard Taft (1857–1930)
“...America has enjoyed the doubtful blessing of a single-track mind. We are able to accommodate, at a time, only one national hero; and we demand that that hero shall be uniform and invincible. As a literate people we are preoccupied, neither with the race nor the individual, but with the type. Yesterday, we romanticized the “tough guy;” today, we are romanticizing the underprivileged, tough or tender; tomorrow, we shall begin to romanticize the pure primitive.”
—Ellen Glasgow (1873–1945)
“Bless my soul, Sir, will you Britons not credit that an American can be a gentleman, & have read the Waverly Novels, tho every digit may have been in the tar-bucket?”
—Herman Melville (1819–1891)
“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)