U.S. mortgage underwriting
Fannie Mae headquarters is seen in Washington November 7, 2013. REUTERS/Gary Cameron
NEW YORK (Reuters) – Fannie Mae said on Monday it has launched a program to streamline its underwriting on mortgages for some borrowers that uses electronic data instead of physical proof of their income, assets and employment.
The U.S. government mortgage agency said the “Day 1 Certainty” program would also offer relief from representation and warranty for the appraised value of a home and a waiver of its property inspection requirement for many mortgage refinancings.
“Together, these innovations deliver greater speed, simplicity, and certainty to lenders and borrowers. They also bring stronger risk management and promote greater digitization of data and processes to the mortgage industry, ” said Timothy Mayopoulos, Fannie Mae’s president and chief executive officer, in a statement.
These program features will be available on Dec. 10, Fannie Mae said.
Fannie Mae and Freddie Mac finance mortgages made by lenders by owning them and guaranteeing the bonds backed by these loans.
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What US banks offer foreign national mortgages? - Quora
Find a local, licensed loan originator who works for a non-depository mortgage lender OR a mortgage broker. Either of these entities (and not a bank) will be able to help you locate a lender willing to lend. You do not have to be a U.S. citizen to obtain a mortgage in the U.S. Here's another trick. The industry uses this website as a way to shop and see what lenders have to offer their customers:
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