Fannie Mae declares support for DACA mortgage borrowers

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.

In recent weeks, HousingWire has been investigating whether the federal government is backing mortgages for Dreamers. In the wake of HousingWire’s original reporting, a number of lenders said they’ve been told directly by the Department of Housing and Urban Development that Dreamers are no longer eligible for FHA mortgages.

To that end, HousingWire subsequently investigated and found 12 different lender bulletins or guidelines that each declared that that Dreamers are ineligible for FHA financing.

And while the FHA appears to be turning its back on Dreamers, Fannie Mae announced late last week that its policies surrounding DACA borrowers and other non-citizens has not changed, adding that it will back mortgages for Dreamers, as long as certain lending criteria are met.

[link to www.housingwire.com (secure)]