Tag: EAD

Fannie Mae – DACA & Non-US Citizen Policy Clarified by Fannie Mae – Fact Sheet Issued for Non-Citizen Borrower Eligibility – Dated March 2019-Released on March 22, 2019

Written By: Lloyd Rutherford, Staff Writer At long last, we have finally received clarification from one of the agencies regarding lending to DACA status clients!  In this update, Fannie outlines very clearly how to assist Non-US Citizen applicants. Rule Synopsis: Fannie Mae issues their first ever Fact Sheet to provide more clarity around a topic […]

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Fannie Mae – DACA & Non-US Citizen Policy Clarified by Fannie Mae – Fact Sheet Issued for Non-Citizen Borrower Eligibility – Dated March 2019-Released on March 22, 2019

Written By: Lloyd Rutherford, Staff Writer At long last, we have finally received clarification from one of the agencies regarding lending to DACA status clients!  In this update, Fannie outlines very clearly how to assist Non-US Citizen applicants. Rule Synopsis: Fannie Mae issues their first ever Fact Sheet to provide more clarity around a topic […]

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Compliance – Visa Requirements: What are the general guidelines for permanent and non-permanent status borrowers? [MC Visa Buyer Chart] [Visa Classifications that Allow You to Work in the US] [MTP™ Mortgage Loans for Non-US Citizen Clients]

Answer: Mortgage lenders will require a Visa type that allows a non-permanent resident to be here legally and work.  They will also require a social security number, which means that they are allowed to work in the US. General guidelines include: Employment Authorization Document [EAD] which is issued by the Dept. of Homeland Security (USCIS) […]

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FHA – Employer Assistance Program Requirements – Does FHA allow funds to be used from Employer Assistance Programs [EAD]?

Answer: Yes, please see the below guidelines for use and documentation required. Reference: 4000.1 II. A. 4. d.  iii (M) Employer Assistance (TOTAL) (1) Definition: Employer Assistance refers to benefits provided by an employer to relocate the Borrower or assist in the Borrower’s housing purchase, including closing costs, MIP, or any portion of the MRI. Employer Assistance […]

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