Larry Kudlow Just Handed It to The Leftists on The MSNBC Morning Show Over Subprime Loans

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[Kimberly GG]

“Or do you have something apposite to include, such as the actual practices of Wells Fargo and BoA in lending on CA real estate when people of questionable citizenship are likely involved?”

Where to start? Ok, Wells Fargo...

Bank Offers American Dream To Illegal Immigrants
Critics Say Program Sends Wrong Message

SAN DIEGO — It’s the American dream — buying a home for your family. And now you don’t have to be in the country legally to own one.

Wells Fargo is first major California lender to offer home loans to illegal immigrants, 10News reported.

“We’re not required to ask the immigration status of any of our customers. That is the responsibility of the federal government,” Wells Fargo bank representative Jerry Ruiz said.”.....
http://www.10news.com/money/6377080/detail.html

I’m not sure about BoA...will look up in a bit...but, here’s CitiCorp:

Undocumented residents being recruited for loans

By Janine Zúñiga
STAFF WRITER

February 6, 2006

* Home-buying industry busy wooing Latinos

A major U.S. bank has funded its first home loans to undocumented Mexican immigrants in San Diego County in a move that targets a lucrative, wide-open market while providing new grist for the debate over illegal immigration.

The local program, which uses tax identification numbers instead of Social Security numbers, is similar to programs run by small lenders – and two state agencies – around the country that have distributed millions of dollars to undocumented immigrants over the past few years.

“There is a huge untapped market out there, but it is a controversial program,” said Sarah Lumbert, office director of San Diego’s ACORN Housing Corp., part of a national group working with Citibank to provide tax-ID loans.”...

http://www.signonsandiego.com/uniontrib/20060206/news_1n6loans.html

A housing rescue nears – but for whom?
Minority neighborhoods would especially benefit from a $3.9 billion aid package.

.....”Black and Hispanic families have gotten a disproportionate share of subprime lending, and subprime loans are the driving force behind the foreclosures,” says Katheen Day, spokeswoman for the Center for Responsible Lending, a nonprofit research and policy group based in Durham, N.C. “We know that black and Hispanic communities are hardest hit.”

Subprime loans – loans made to homebuyers with less-than-perfect credit – were responsible for a large share of the foreclosures that started last year. And minorities received a hefty share of those loans. Just over half of African-Americans and 4 in 10 Hispanics who got a mortgage in 2006 had a subprime loan, according to a 2007 analysis by the Center for Responsible Lending.

Also, the areas hardest hit by home-loan crisis are heavily Hispanic. In seven of the 10 metro areas with the highest foreclosure rates last month, they represent at least one-third of the population; in two of them – Merced and Salinas-Monterey, Calif. – Hispanics make up more than half of the population. Their rates of home­ownership are also high: More than half of Hispanic households owned their home in eight of the top 10 foreclosure cities, according to the latest census data. “...

http://www.csmonitor.com/2008/0722/p01s04-uspo.html

Oh, and did you catch the nutjob on Cavuto today demanding that these HOMEOWNERS be given the same bailout that the government is giving the financial institutions. Won’t that just be something if we end up paying the mortgages on the illegal’s homes. The way things have been going...NOTHING would surprise me.

[BelegStrongbow]

That is exactly what I was hoping you would post. I did not write back thinking you did not have this data. I just want to see it in black and white, today, so that people really do recognize that the elites in CA, who couldn’t be bluer politically, really do have the utmost disdain for citizenship, honor and duty.

Thanks!