Items Tagged with 'Deferred Action for Childhood Arrivals program'

ARTICLES

  • HUD declares FHA is no longer backing DACA mortgages

    "DACA recipients remain ineligible for FHA loans"
    After months and months of uncertainty about whether the FHA is backing mortgages for Deferred Action for Childhood Arrivals recipients or not, HUD has finally given an official answer. And that answer is no.
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  • Fannie Mae declares support for DACA mortgage borrowers

    Reiterates guidelines on mortgages for non-citizens
    While it appears that the Federal Housing Administration may not be backing mortgages for Deferred Action for Childhood Arrivals recipients, Fannie Mae declared recently that it supports (and will continue to support) mortgages for DACA recipients, also called Dreamers.
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  • Dreamers denied: Evidence mounts FHA is not backing DACA mortgages

    Lenders back down as government actions disrupt home loans
    Despite HUD stating recently that its policies have not changed in regards to the FHA backing mortgages for Deferred Action for Childhood Arrivals recipients, it appears that the opposite is actually the case. Or at least that’s how the mortgage lending industry is reacting. A new HousingWire investigation has uncovered lender bulletins or guidelines from a dozen different lenders each stating that Dreamers are not eligible for FHA financing.
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  • Confusion reigns over whether government is backing mortgages for DACA Dreamers

    HUD claims nothing has changed, lenders are hearing differently
    The Department of Housing and Urban Development, Federal Housing Administration, and Department of Agriculture told HousingWire recently that their policies have not changed in regard to mortgages to Deferred Action for Childhood Arrivals recipients. But multiple lenders and mortgage industry participants tell HousingWire that HUD seems to be saying one thing and doing another.
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  • Ask the Underwriter: Are DACA recipients eligible for FHA loans?

    Here are the requirements
    On Wednesday, a federal judge ruled that the protections for Deferred Action for Childhood Arrivals program recipients must stay in place and that the government must resume accepting new applications for the program. This is great news for the Dreamers! But what does it mean for DACA borrowers who are looking to buy a new home this spring? This week, Underwriter Dani Hernandez provides a walk through of the FHA’s guidelines and explains the documentation needed to get your DACA borrowers into a new home using FHA financing.
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  • Trump’s DACA decision to have limited effect on U.S. economy

    Full impact depends on Congress’ next move
    President Donald Trump officially announced he would end the previous administration’s DACA program. Now, analysts explained what this move will mean for the economy, saying its effects will be limited. But Congress’ next move could mean significant changes for the housing industry.
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