"Unless Fannie Mae, Freddie Mac and FHA (Federal Housing Administration) start doing this type of loans, it's only going to have a marginal impact."
The day that happens there will be heck to pay..
what about the default rates? Will illegal aliens be able to file for protection in the bankruptcy federal courts?
Even if they are able, will they want to risk "la migra"? (a federal judge's obligation to report the illegal?)
This will create a forclosure class which will be another problem to be "fixed".