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July 19, 2018

The Mortgage Industry May Have a DACA Problem. FHA Says Don't Make Loans to Illegals

By George Brooks

A HUD spokesman told this news organization that “non-U.S. citizens without lawful residency in the U.S. are not eligible for FHA-insured mortgages.”

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Poll

Who "owns" the mortgage customer that’s brought to a wholesale lender through a loan broker?

The broker. It’s his/her client.

35%

The wholesale/table funder. They’re taking the financial risk.

30%

The broker, but only for the first year. After that, the borrower is fair game.

13%

Hard to answer. It’s a complicated issue.

22%