Fannie Mae's immigrant initiative, The Welcome Initiative, A New Home in a New Country (Iniciativa De Bienvenida, Un Nuevo Hogar en un Nuevo Pais), is our comprehensive bilingual marketing initiative to help our lenders address the needs of immigrant borrowers nationwide. Fannie Mae lenders can receive tools and materials for reaching out to consumers, and for building linkages with community partners.
The Welcome Initiative works to break down the barriers faced by immigrant consumers in the homeownership process by addressing key areas:
residency status
income, including the treatment of boarder income
employment
nontraditional credit
The goal of the Initiative is to establish strategic alliances with lenders and community partners to help immigrants, in various stages of residency, understand their eligibility to qualify for Fannie Mae mortgage products in order to purchase a home. Through its lender partners, Fannie Mae offers underwriting flexibilities that allow eligible immigrant borrowers to apply for a home loan even if they are only in the process of obtaining permanent residency, or do not have a complete U.S. income and credit history. Alternative sources of qualifying income such as boarder income and part-time employment are also considered.
If I didn't know better, I would think this was a big spoof.
Sen Hatch's puppy is growing quite well. It's a shame that a investigative reporter is trying to kill it. /sarc