Notes underwritten with Itin numbers less valuable?

[Account Closed]

I work for a mortgage company and we underwrite private notes for investors One of our programs is that we underwrite for owner occupants with iTIN numbers. Are these notes discounted more than other notes even though they are superbly underwritten?  

[Sushil Sureka]

We have purchased notes on assets for owner occupants with iTIN numbers. We did not ask for larger discount as we solely based our decision off of the asset quality and margin of safety in terms of vested equity.  That may not be the case for institutional level note buyers, but we certainly did not care.

Freddie don't purchase these loans, so I can see stigma attached with these loans. 

I know it does not provide the answer you are looking for, but just wanted to give my perspective.