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The DEA contends that Miami-Dade mortgage broker Hugo Oliva and Manuel Caro falsified documents to obtain mortgage loans to buy houses to grow drugs.....fake documents included bank statements, W2 forms, pay stubs and employment records.

(Sniffle) Just here for a better life (sob).

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REFERENCE---MICHELE MALKIN----9/24/08 As panicked politicians prepare to fork over $1 trillion to rescue Wall Street......one villain has slipped notice: illegal immigration, crime-enabling banks and open-borders Bush policies.......cities hardest hit by the foreclosure wave happen to be some of the nation's largest illegal alien sanctuaries. Half of the mortgages to Hispanics are subprime.

A quarter of all those subprime loans are in default and foreclosure. The National Council of La Raza and its Development Fund received millions in federal funds to "counsel" on obtaining mortgages with little to no money down; the group almost succeeded in attaching a $10M earmark for itself in one of the housing bills passed this spring.

The quasi-governmental Wisconsin Housing and Economic Development Authority guaranteed home loans to illegal immigrants. Ads proclaim: "Sin verificacion de ingresos! Sin verificacion de documento!" - translates as, 'Income tax forms are not required, nor are immigration papers.' " Fraudsters engaged in house-flipping rings using illegal aliens as straw buyers.....the FBI cites a conspiracy involving a Nevada First Residential Mortgage Company branch manager who directed loan officers, processors to originate 233 fraudulent FHA loans valued at over $25M. The defrauders made and submitted false employment and income documentation for illegal immigrants from Mexico.....

"Fifty-eight loans with a total value of $6.2M have gone into default, with a loss to the HUD of over $1.9M." It's the tip of the iceberg. Thanks to lax Bush policies allowing illegals to use "matricula consular cards" and taxpayer-ID numbers to open bank accounts, mortgage fraud has grown........the GAO told me five years ago: "Considering the large cities inundated with illegal aliens, the federal government isn't willing to expose this problem for financial reasons as well as for fear of political repercussions."

The chickens are coming home to roost. Law-abiding taxpayers are going to pay for it.