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Banking on Illegals (Blatant criminality..UNREAL!)
The Pittsburgh Tribune Review ^ | 05/28/05 | Dimitri Vassiloros

Posted on 05/28/2005 9:57:39 PM PDT by smoothsailing

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To: eddie willers

"And they will get away with it.

Until all the defaults start to come in."


And probably afterwards. The loans get securitized and resold.


81 posted on 05/29/2005 10:51:39 AM PDT by Pearls Before Swine
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To: smoothsailing

You know, if these illegals really knew what they believed in and what they were doing instead of being led around by their noses and false beliefs; they would clean up their own country.


82 posted on 05/29/2005 11:01:45 AM PDT by freekitty
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To: Happy2BMe
All bank officials could be charged under:
Title 18 U.S.C. Sec. 4, "Misprison of felony."

83 posted on 05/29/2005 11:08:28 AM PDT by Smartass (Si vis pacem, para bellum - Por el dedo de Dios se escribió)
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To: smoothsailing

"New South Federal Savings Bank is giving illegal aliens home mortgages to help them realize the American dream."

The City of Madison, WI is doing the same thing:

http://www.freerepublic.com/focus/f-news/1405620/posts


84 posted on 05/29/2005 11:12:55 AM PDT by Diana in Wisconsin (Save The Earth. It's The Only Planet With Chocolate.)
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To: VeniVidiVici

>>New South Federal Savings Bank is giving illegal aliens home mortgages<<



After the completion of the loan, the federal government buys the loan from the bank (thru FANNIE MAE) and the bank continues to service the loan by collecting the monthly mortgage payments. Or they may sell the servicing contract to another company.


85 posted on 05/29/2005 12:19:20 PM PDT by B4Ranch ( Report every illegal alien that you meet. Call 866-347-2423, it's a FREE CALL)
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To: smoothsailing

If it is against federal law for banks to do what they're doing then it's time to sue them since the feds obviously don't care. In Kansas the college tuition for illegals is being challenged and this Federal Savings Bank can be as well.


86 posted on 05/29/2005 12:40:27 PM PDT by Reaganwuzthebest
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To: Smartass; B4Ranch; Reagan Man; Reaganwuzthebest; Gipper08; MeekOneGOP; devolve; OXENinFLA; ...
Provided by 'SMARTASS' . .

=================================

§ 4. Misprision of felony

Release date: 2004-08-06

Whoever, having knowledge of the actual commission of a felony cognizable by a court of the United States, conceals and does not as soon as possible make known the same to some judge or other person in civil or military authority under the United States, shall be fined under this title or imprisoned not more than three years, or both.

All bank officials could be charged under: Title 18 U.S.C. Sec. 4, "Misprison of felony

And how the bankers wash their filthy hands from it and keep from going to jail (#85) . .

"After the completion of the loan, the federal government buys the loan from the bank (thru FANNIE MAE) and the bank continues to service the loan by collecting the monthly mortgage payments. Or they may sell the servicing contract to another company."

87 posted on 05/29/2005 12:48:14 PM PDT by Happy2BMe ("Viva La Migra" - LONG LIVE THE BORDER PATROL!)
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To: smoothsailing; All
If every law abiding citizen withdrew their money from New South and let them know why, I think it would cause a rethinking of the policy.
88 posted on 05/29/2005 12:52:39 PM PDT by CaptainK
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To: Happy2BMe
#85 does not trump the statute!
89 posted on 05/29/2005 12:52:53 PM PDT by Smartass (Si vis pacem, para bellum - Por el dedo de Dios se escribió)
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To: Smartass

No, but it gives a good audit trail (that nobody in the FED has any interest of following).


90 posted on 05/29/2005 12:57:58 PM PDT by Happy2BMe ("Viva La Migra" - LONG LIVE THE BORDER PATROL!)
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To: bayourod

I wish we could deport you.


91 posted on 05/29/2005 1:04:25 PM PDT by austinite
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To: Happy2BMe
Where the Feds have taken the American citizen out of the equation, courts have ruled, that a citizen cannot prosecute a criminal case.   Civil yes, criminal no...Hence, when justice remains blind, it isn't being served!
92 posted on 05/29/2005 1:08:26 PM PDT by Smartass (Si vis pacem, para bellum - Por el dedo de Dios se escribió)
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To: eddie willers; international american

See #85.

The banks transfer all of the risk to you and me when they sell the loan to FANNIE MAE. We are the ones who will pay if the FANNIE MAE pyramid ever collapses.



93 posted on 05/29/2005 2:00:02 PM PDT by B4Ranch ( Report every illegal alien that you meet. Call 866-347-2423, it's a FREE CALL)
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To: freekitty

>>they would clean up their own country.<<

That is not an issue today. They came to corrupt our contry and they are doing a great job of it. Congratulations are in order!

If we won't get off our dead butts to save it by evicting legislators one after the other until we get to the core group who understands what is happening, why should the illegals want to do more?

Hiney, free money is just that. It is free money for the receiver. We are paying it and all we want to do is whine but we will reelect the same party officials who put us in the mess. Of that I am almostr positve.

How often do you read about a thread on FR that promotes common sense ideas towards building a solid 3rd party that could present some serious competition to both the R's and the D's. The current flock of legislators at all levels, are comfortable in their chairs and there is no serious competition that I can see. Nor do I think there will be any. We're too comfortable watching our country spiral downhill.


94 posted on 05/29/2005 2:11:52 PM PDT by B4Ranch ( Report every illegal alien that you meet. Call 866-347-2423, it's a FREE CALL)
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To: bayourod
I don't condone the violation of federal laws by people who hire illegals. But at the same time I don't live in fear of undocumented laborers who are providing essential goods and services without which our economy could not continue to grow.

If we need foreign workers to help our economy grow, we can let in more LEGAL immigrants. We don't need illegal alien lawbreakers.

Rounding up eleven million people and kicking them out of the country is not a real option in today's political and cultural climate.

We don't need to round up any illegal aliens. Cut off ALL taxpayer funded services to illegal aliens while at the same time crack down HARD on businesses that knowingly hire illegal aliens. With no prospects for a job and no taxpayer funded goodies available to them, illegal aliens will begin to voluntarily head back to their home countries.

95 posted on 05/29/2005 2:16:29 PM PDT by judgeandjury
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To: Smartass

We have lost another round. Sad to say on this Memorial Day.

Go here if you don't believe me. Check out these down payments.

http://www.newswithviews.com/guest_opinion/guest52.htm

Proof of citizenship is not required. This is Bush's American Dream. Read the whole page and you will be disgusted.


96 posted on 05/29/2005 2:36:12 PM PDT by texastoo ("trash the treaties")
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To: Reaganwuzthebest

These aren't your common loans. Banks across the United States are writing the loans based on individual taxpayer identification number, or ITIN. No SSI number needed for these. No driver license ID needed, just the Mexican Consular ID.

Just so long as the IRS thinks they'll get their cut, everything will be fine! Only an IRS-issued document can be accepted for proof of your ITIN by a bank.

One company, Milwaukee-based Mortgage Guaranty Insurance, now offers private insurance on the loans, which reduces risks for banks and makes the mortgages easier to resell. The Federal Deposit Insurance Corp. is helping a group of Midwest banks to develop ITIN programs.


Senator Orrin Hatch's D.R.E.A.M. Act okayed giving them college educations so they can afford to pay for mortgages. Everything is going to be OK so just go back to watching TV. You don't mind subsidizing a college education for an untold number of illegal aliens, do you? Why complain about buying them homes? You have one, don't you?

Calm down. All of this is happpening under governmental oversight. Our elected officials have our best interesats in mind, (I hope)lol


97 posted on 05/29/2005 2:39:35 PM PDT by B4Ranch ( Report every illegal alien that you meet. Call 866-347-2423, it's a FREE CALL)
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To: judgeandjury

Are you certain that logic is allowed on this thread? It is an anti illegal immigrant you know.


98 posted on 05/29/2005 2:42:15 PM PDT by B4Ranch ( Report every illegal alien that you meet. Call 866-347-2423, it's a FREE CALL)
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To: texastoo
Very frustrating and disappointing.   I love and have supported President Bush and will continue to do so.   However, he's totally out of touch and lost on this issue.
99 posted on 05/29/2005 2:53:46 PM PDT by Smartass (Si vis pacem, para bellum - Por el dedo de Dios se escribió)
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To: Smartass

Bush knows exactly what he is doing. He is not a conservative. I won't argue as Bush is not worth it.


100 posted on 05/29/2005 3:08:02 PM PDT by texastoo ("trash the treaties")
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