AIG Investments Conforming Agency Overlays-Revision Notification--October 20, 2022

The following guidance has been updated in the Conforming Agency Overlays guideline document. The previous and updated language is shown below, with the full revised Conforming Agency Overlays guideline document available on the AIG Correspondent Lending webpage.

Loan File Requirements Section

Previous Language:

All borrowers (US Citizens, permanent and non-permanent residents) must have a valid Social Security number.  Permanent and non-permanent residents must have legal residency documented as noted below:

  • For permanent residents, a copy of the green card is required (front and back).
  • For non-permanent residents, H1B and L1 Visas are eligible when one of the following documentation is provided:
    • Borrower’s current visa. 
    • Approval of the application or petition, Notice of Action Form I-797, I-797A, or I- 797B.
    • TN, NAFTA passport stamp.
    • Current (unexpired) Employment Authorization Document (EAD) issued by USCIS.
      • If the EAD will expire within one year, one of the following must be provided:
        • Documentation of one previous EAD renewal; or
        • If there are no prior EAD renewals, documentation from USCIS confirming the likelihood of renewal.

Note: Legal residency documentation must include borrower’s name, eligible visa category, and expiration date.

Revised Language:

All borrowers (US Citizens, permanent and non-permanent residents) must have a valid Social Security number. 

  • Permanent and non-permanent residents must have current legal residency documented as noted below:
    • For permanent residents, a copy of the green card is required (front and back).
    • For non-permanent residents, only H1B and L1 Visas are eligible. The documentation must include the borrower’s name, eligible visa category, and expiration date.