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.
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