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 I were an American, as I am an Englishman, while a foreign troop was landed in my country, I never would lay down my arms—never—never—never!”
—William Pitt, The Elder, Lord Chatham (1708–1778)
“There is no national science just as there is no national multiplication table; anything that is national is not scientific.”
—Anton Pavlovich Chekhov (1860–1904)
“To act the part of a true friend requires more conscientious feeling than to fill with credit and complacency any other station or capacity in social life.”
—Sarah Ellis (1812–1872)
“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)