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 […]
A subscription is required to access this content—please view our available subscription options. If you are a current subscriber, please log in.
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 […]
A subscription is required to access this content—please view our available subscription options. If you are a current subscriber, please log in.
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 […]
A subscription is required to access this content—please view our available subscription options. If you are a current subscriber, please log in.
By: Tammy Butler, Master CMB Working with Visa Status borrowers can be a daunting task if you are not familiar with the terminology, what statuses may work and live in the US, and how to count income and probability of income. Compound that with the lack of guidance from the agencies and the varying interpretations […]
A subscription is required to access this content—please view our available subscription options. If you are a current subscriber, please log in.