Mortgages for Illegal Aliens Encouraged by FDIC
excerpt:
"Openly adding to the growing list of illicit acts on behalf of illegal aliens are corporate entities and mid-sized businesses knowingly hiring illegal aliens without verification of proper documentation. Long gone are the days when we were told illegal workers were merely filling jobs as domestics in the home or doing the work of landscapers, as many decent blue collar jobs go directly to the illegal population now, bypassing hardworking Americans. And since no fines have ever been issued against any businesses hiring illegal aliens there is no impetus for any to stop, as they enjoy not having to pay benefits or guaranteeing work on a permanent basis."
"But while most Americans are at least peripherally aware of these unaddressed problems, many would be surprised how financial institutions are now bending over backwards to woo illegal aliens to become home owners. Until recently it was an unexposed policy, but banks across the nation have now put out the welcome mats in full force, through marketing campaigns."
Then there's this article originally published in the Wall Street Journal:
Illegal aliens getting home loans
excerpt:
"In the 1990s, Mitchell Bank’s old turf on Milwaukee’s South Side began to see an influx of Latino immigrants. James Maloney, the chairman of Mitchell Bank, saw the newcomers as a solution to the bank’s falling fortunes. Its assets fell to $60 million in 1999, from $95 million in the 1990s. Maloney decided in 2002 the bank should offer mortgages even to illegal immigrants, convinced that would revitalize the area."
"The move would be in line with a federal law, enforced by the FDIC, that requires banks to invest in the communities in which they gather deposits, according to the banker. Because most undocumented immigrants don’t have a credit history, the bank decided to consider utility, rent and overseas-remittance receipts in assessing their creditworthiness. A letter from a pastor was also welcome."
So much for separation between church and state.