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INVESTMENT GOVERNMENT PROPERTY PRESERVATION INDUSTRY UPDATES
HUD UPDATES
DACA
REGULATIONS
In the hours before President Biden was
sworn in, HUD Secretary Dr. Benjamin
Carson and HUD Deputy Secretary Brian
Montgomery announced that FHA would
permit DACA status recipients to apply for
FHA-insured mortgages going forward. e
change was made effective as of January 19.
According to the FHA's statement:
"Prior to today's announcement, the
FHA Single Family Housing Handbook
(Handbook 4000.1 Section II.A.1.b.ii(A)(9)
(c) includes this statement: 'Non-US citizens
without lawful residency in the U.S. are not
eligible for FHA-insured mortgages.' is
language was incorporated into the FHA
Handbook by the Obama Administration
in September 2015 although it was first
incorporated into FHA guidelines in 2003."
e FHA statement also noted that
"other FHA requirements remain in effect
for all potential borrowers including DACA
status recipients:
» the property will be the borrower's principal
residence;
» the borrower has a valid Social Security
Number (SSN), except for those employed
by the World Bank, a foreign embassy, or
equivalent employer identified by HUD;
» the borrower is eligible to work in the
U.S., as evidenced by the Employment
Authorization Document issued by the
USCIS; and
» the borrower satisfies the same
requirements, terms, and conditions as
those for U.S. citizens."
