Can a lender use foreign sources to help establish the credit, including the nontraditional credit, of a borrower?

Foreign sources of credit that can be adequately documented and verified by the lender may be used to help establish the credit, including nontraditional credit, of a borrower. The lender is fully responsible for determining the authenticity of these foreign sources. If the lender has any doubts about the authenticity of the foreign sources of credit, then the lender should not accept or use them.

HUD Policy Determination

All policy information contained in this knowledge base article is based upon the referenced HUD policy document. Any lending or insuring decisions should adhere to the specific information contained in that underlying policy document.

Topic Number: KA-04879