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Most banks would sell the kidneys of Brazilian garbage men if they could get away with it

So, it shouldn't come as much of a surprise to find them doing something not nearly as bad but still quite disturbing. Namely, giving home loans to illegal aliens.

The article "Banks Find Mortgage Clientele in Undocumented Immigrants" is the latest in a string of reports about banks funding loans using ITINs ("individual taxpayer identification numbers") rather than social security numbers. It does include a quote from Dan Stein of FAIR, but about 80% of the paragraphs present the programs in a good light.

Probably the most outrageous quote comes from Antonio Riley, executive director of the Wisconsin Housing and Economic Development Authority. That's listed as a state agency, and here's what he has to say:

"We don't see what can be so controversial about helping people realize the dream of homeownership."

Let's see now. These are illegal immigrants, right? And, they (most likely) entered the country illegally, remain here illegally, and, if they're working here they're doing so illegally. Nope, I don't see anything controversial about that at all.

Several banks are mentioned in the report as making or guaranteeing these ITIN loans:

* Cincinnati-based Fifth Third Bank
* Mitchell Bank
* Neighborhood Housing Services of America (Oakland, CA)
* Banco Popular (Houston)
* Self-Help Credit Union (Durham, NC)
* Second Federal Savings (Chicago)
* First Bank of the Americas
* Texas Bank (Fort Worth)
* Mortgage Guaranty Insurance Corp. (Milwaukee)

It also mentions that the FDIC and Freddie Mac are involved or are considering getting involved.

See also Bank of "America", Welcome to the wacky world of corruption (about the WHEDA), "Undocumented Immigrants Buying Homes With Fake IDs", and "Who is the FDIC? And, why are they working with a foreign government to subvert our laws?"

Immigration2005a · Wed, 03/16/2005 - 22:58 · Importance: 1

Fri, 08/25/2006 - 11:07
Captain A

The bank owners should object, as an illegal immigrant is subject to dis-employment and deportation, which makes them high risks for defaulting on loans. Where do these illegal immigrants get the money for down payments? Not doing jobs that Americans refuse to do, for sure. What's with these banks? They must be charging usurous rates.