Comments on: Illegal Aliens Took Out 5 Million Fraudulent Mortgages? http://www.therealestatebloggers.com/2008/10/09/illegal-aliens-took-out-5-million-fraudulent-mortgages/ Real Estate Blog, Mortgage, and Development News Sat, 20 Mar 2010 11:25:08 +0000 http://wordpress.org/?v=2.9.1 hourly 1 By: Al http://www.therealestatebloggers.com/2008/10/09/illegal-aliens-took-out-5-million-fraudulent-mortgages/comment-page-1/#comment-280102 Al Sat, 18 Oct 2008 06:39:52 +0000 http://www.therealestatebloggers.com/2008/10/09/illegal-aliens-took-out-5-million-fraudulent-mortgages/#comment-280102 If you used any form of federal fraud to get any home loan-Native American or not, that is indeed a federal FRAUD anyway! NO ifs ands or butts about that fact! If you used any form of federal fraud to get any home loan-Native American or not, that is indeed a federal FRAUD anyway! NO ifs ands or butts about that fact!

]]> By: Fred http://www.therealestatebloggers.com/2008/10/09/illegal-aliens-took-out-5-million-fraudulent-mortgages/comment-page-1/#comment-280097 Fred Sat, 18 Oct 2008 06:31:50 +0000 http://www.therealestatebloggers.com/2008/10/09/illegal-aliens-took-out-5-million-fraudulent-mortgages/#comment-280097 Lets just cut all the bull crap here! I as a U.S. citizens was even offerd a loan without any S.S.I. number in a E mail ad,before this bail out! It also offerd a no money down loan also, with no proof of employment! Now you tell me how stupid that is! That simply means these lenders had no idea who those barrowers where in the first place! Lets just cut all the bull crap here! I as a U.S. citizens was even offerd a loan without any S.S.I. number in a E mail ad,before this bail out! It also offerd a no money down loan also, with no proof of employment! Now you tell me how stupid that is! That simply means these lenders had no idea who those barrowers where in the first place!

]]> By: J. Mario http://www.therealestatebloggers.com/2008/10/09/illegal-aliens-took-out-5-million-fraudulent-mortgages/comment-page-1/#comment-277115 J. Mario Tue, 14 Oct 2008 16:24:03 +0000 http://www.therealestatebloggers.com/2008/10/09/illegal-aliens-took-out-5-million-fraudulent-mortgages/#comment-277115 Hey wait a minute -- did you say illegal and aliens and loans in the same sentence? First of all, illegal is illegal and if you do a thorough research of the sorts of loans that were being funded by ALL mortgage lenders a whole slew of them were illegal not just those originated on unsuspecting aliens -- particularly the non-english speaking ones. These autrocities go unmentioned in your conclusions, but the vast majority of these loans were deceptive against these folks, not the other way around. Aliens, for anyone interested, are aliens because that is how they are categorized here, but in the end, everyone who isn't indiginous to this country (as in native indians) is such. And lastly the mortgage industry is guilty (as in illegal) of making the whole mess up and now wanting to point fingers at someone. C'mon guy, get the facts right. You allude to a lot of stuff in your posting, but do you truly have the divvy on this sort of stuff? Unless you have walked in another's moccasins, you can't, can you. Hey wait a minute — did you say illegal and aliens and loans in the same sentence? First of all, illegal is illegal and if you do a thorough research of the sorts of loans that were being funded by ALL mortgage lenders a whole slew of them were illegal not just those originated on unsuspecting aliens — particularly the non-english speaking ones. These autrocities go unmentioned in your conclusions, but the vast majority of these loans were deceptive against these folks, not the other way around. Aliens, for anyone interested, are aliens because that is how they are categorized here, but in the end, everyone who isn’t indiginous to this country (as in native indians) is such. And lastly the mortgage industry is guilty (as in illegal) of making the whole mess up and now wanting to point fingers at someone. C’mon guy, get the facts right. You allude to a lot of stuff in your posting, but do you truly have the divvy on this sort of stuff? Unless you have walked in another’s moccasins, you can’t, can you.

]]> By: Serf http://www.therealestatebloggers.com/2008/10/09/illegal-aliens-took-out-5-million-fraudulent-mortgages/comment-page-1/#comment-272809 Serf Fri, 10 Oct 2008 14:43:13 +0000 http://www.therealestatebloggers.com/2008/10/09/illegal-aliens-took-out-5-million-fraudulent-mortgages/#comment-272809 I bet you that the default rate among this group is very low. I bet you that the default rate among this group is very low.

]]> By: Tom Royce http://www.therealestatebloggers.com/2008/10/09/illegal-aliens-took-out-5-million-fraudulent-mortgages/comment-page-1/#comment-272304 Tom Royce Thu, 09 Oct 2008 23:43:00 +0000 http://www.therealestatebloggers.com/2008/10/09/illegal-aliens-took-out-5-million-fraudulent-mortgages/#comment-272304 Edward Thanks for the clarification. Great stuff! Tom Edward

Thanks for the clarification. Great stuff!

Tom

]]> By: Edward F. Haertel http://www.therealestatebloggers.com/2008/10/09/illegal-aliens-took-out-5-million-fraudulent-mortgages/comment-page-1/#comment-272214 Edward F. Haertel Thu, 09 Oct 2008 20:36:19 +0000 http://www.therealestatebloggers.com/2008/10/09/illegal-aliens-took-out-5-million-fraudulent-mortgages/#comment-272214 A Google search led me to your comments on the illegal alien mortgages. Having been involved in identity theft investigations, I can think of one way in which the 5 million mortgages might have been fraudulent. I know that since 2001 a Social Security Account Number (SSAN) has been required when closing on a home. I don't believe that requirement existed prior to 2001, but lenders have asked for an SSAN at least since the mid to late 1970s, though there was no legal requirement to give the SSAN to the lender. Most illegals have at least one SSAN which they use. Many have several SSANs. Virtually all of these SSANs actually belong to someone other than the illegal, or are "impossible numbers". Though hardly ever prosecuted (which helps explain the prevalence of identity theft), it is a Federal felony violation for a person to use a SSAN which was not assigned to them by the government. Any mortgage obtained which involved the use of an SSAN by an illegal is, by definition, a fraudulently obtained mortgage which involved a felonious act. A Google search led me to your comments on the illegal alien mortgages. Having been involved in identity theft investigations, I can think of one way in which the 5 million mortgages might have been fraudulent. I know that since 2001 a Social Security Account Number (SSAN) has been required when closing on a home. I don’t believe that requirement existed prior to 2001, but lenders have asked for an SSAN at least since the mid to late 1970s, though there was no legal requirement to give the SSAN to the lender.

Most illegals have at least one SSAN which they use. Many have several SSANs. Virtually all of these SSANs actually belong to someone other than the illegal, or are “impossible numbers”. Though hardly ever prosecuted (which helps explain the prevalence of identity theft), it is a Federal felony violation for a person to use a SSAN which was not assigned to them by the government. Any mortgage obtained which involved the use of an SSAN by an illegal is, by definition, a fraudulently obtained mortgage which involved a felonious act.

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