Written by: Tracey Rumsey, Staff Writer UPDATED Visa Status – Non-U.S. Citizen Guidelines – All Agency Guidance Working with clients who have not been granted permanent residency but are permitted to live and work in the US can be complex. The reason is that the agencies offer little guidance and leave the decisions up to […]
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Question: I have two borrowers whose current work permit (Category A18) expired and they are in the process of getting it renewed. We have documents to showing the application and pending renewal. Will this be acceptable to Fannie Mae? MC – Visa Status – Non-US Citizen – All Agency Guidance Chart Answer: The USCIS defines […]
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Question: Our client is under a C08 Visa Status. Will any of the agencies accept this status? MC Chart – Visa Status Reference, MC-Visa Status Terminology for Mortgage Lenders, MC Online Training Classes for Non-U.S. Citizen Borrower Lending Answer: The CO8 Visa is a temporary asylum status with an application pending for permanent asylum. This […]
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Answer: Our experts and a subscriber accustomed to doing DACA loans reached out to multiple agencies to get their answers as to whether DACA is or is not acceptable. We have published the relevant parts of those responses under the Reference section. Since the rescission of DACA in February of 2018, the secondary markets have […]
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Answer: FHA provides no detail on the acceptability of visas and requires the lender to determine that the borrower resides and works in the US legally and their residency status and income is stable and likely to continue for at least 3 years. We have attached our Interactive VISA Status Chart which was just released and […]
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