Comments on: Hannie Mae – Formalizing Lending To Illegal Aliens

By: Fed and Mortgages for Illegal Immigrants (2006) « What’s Arugula

Fed and Mortgages for Illegal Immigrants (2006) « What’s Arugula — Mon, 13 Oct 2008 02:38:17 +0000

[...] Pages 46-50 are especially interesting as they concern mortgages issued with ITIN only. Fortunately, Fannie Mae would not touch ITIN-only mortgages, but other companies did purchase them. For example Hispanic National Mortgage Association would buy them and resell as securities. [...]

By: Bill

Bill — Thu, 17 Jul 2008 16:55:29 +0000

How does someone that is in the united states and obtained financing, and is now selling there home in a short sale situation provide documentation it is them when they have fake driver’s license, and how did they obtain a loan in the first place. They have itin #s but we just left a closing that blew up cause they had fake identification. How can I prove they are the sellers and close this transaction?

By: Jay From Miami

Jay From Miami — Wed, 16 Jul 2008 17:14:57 +0000

actually Banco Popular had a ITIN program last time i checked, i know that in 2006 the ltv was at 95%. LOL

These Lenders will doanything to make money

Regards,

By: Dominic Read

Dominic Read — Mon, 14 Jul 2008 15:59:39 +0000

Some time between 1993 and 1997 the INS stopped issuing social security numbers to legal aliens who were not permitted to work. This would include spouses and children of workers admitted with valid temporary work visas. This enables the temporary workers to pay US taxes and to be able to identify the other family members as legitimate dependants. Apparently this was done to prevent the confusion that might arise if a family member without the right to work had a Social Security Number – even though the Social Security Card was stamped – “Not Valid for employment”.

So – just becuase someone has an ITIN, does not necessarily mean that they are in the county illegaly.

By: Emery

Emery — Wed, 31 Oct 2007 16:28:41 +0000

Interesting that the media does very little to report of the percentage of subprime loans to illegals that have defaulted. Some report as high as 20%. So they import 30 million illegals and then figure out how to put them in debt immediately. We need to overturn the money changers tables of the FED in America.

By: Jeffrey Owen - Ion Home Inspection

Jeffrey Owen - Ion Home Inspection — Fri, 12 Oct 2007 23:56:06 +0000

Incredible. What are we doing….. Subprime is in melt down already!

By: Mike

Mike — Thu, 11 Oct 2007 13:57:16 +0000

How is this principle any different than the seemingly illegal actions of hiring illegal aliens?

By: Mike

Mike — Thu, 11 Oct 2007 13:48:09 +0000

one word “Politics.” well actually 2,… Politics and Greed.

It’s just more pockets for our lovely government to Milk along with the large corporations that hold hands with our government. All the media attention about controlling the influx of illegal aliens and they are offering them home mortgages?

Someone’s being fooled here…

It must be nice to easily write rules that put big bucks in your pocket, but if us simple folks step out of line they scream…..Illegal! and lock us up, that is until they say damn… thats a good way to make $$$$ let’s go ahead and legalize it.

What stupid title will the IRS come up with to hide their unethical profiteering “Transitional Americans”?

By: What is an ITIN and How is It Used in Real Estate? — The Real Estate Bloggers

Thu, 11 Oct 2007 13:41:53 +0000

[...] ← Hannie Mae – Formalizing Lending To Illegal Aliens [...]

By: Di M.

Di M. — Wed, 10 Oct 2007 17:07:29 +0000

The work arounds of the Hannie Mae really do say something about its sponsors; that they are not true Americans but are a hybrid of socialist-minded profit chasers. And of course, leave it to the unconstitutionally enforced IRS think tankers to hold hands with them.