Thread: How Many Subprime Mortgages Were Awarded to Illegal Aliens?

He was ultimately deported and then, several months afterwards I watched a televised news report about how terrorists from the Middle East had been coming to the United States to engage in coupon fraud to fund terrorist attacks around the world! The "dishwasher" we had arrested was obviously one of them. I have often wondered where he is now and what role he might have played in the terrorist attacks I have read about, including the first attack on the World Trade Center on February 26, 1993 and the attacks of September 11, 2001.

Can anone explain to me how coupon fraud works? I have never heard of this...

All the major national home builders use sub's who are all illegal, it cut the labor cost of home building by 2/3's.
The illegal labor cost was so low the price the builders could build them out using the wage slave came down and down, as did the quality.

Existing homes had to be priced lower to compete, then the builders went on a "I'll do it the most binge" as did all the local area's builders.

The national lenders made loans to the illegals doing other jobs as well as these who worked in the home building industry.

Many, Many loans to illegals with fake ID's and credit.

Now when they leave, who is on the hook.?

"We the People" the tax payers.

Fraud ,,,, 100% fraud.

I don't know about other parts of the country, but in AZ, Las Vegas and parts of Texas, the price of homes did not go down due to illegal labor.

The prices went up, the profits went up.

Yes, the quality went down. I saw those dirt dauber houses going up in AZ and Las Vegas and they looked like they had a few 2 x 4's, some chicken wire and sprayed on stucco.

My son had some experience with builders who used 'their own labor'. He rejected the house.

They are reporting no one is giving loans, yet the other day the bank ok'd a loan for my son to pick up a rental and he locked in for 30 days on a 5.65 interest rate....they are a bunch of damn liars.

Well, two houses down the illegals bought the house. $189,900 My wife befriended the lady who told her they are illegal. They have anchors however. Not sure ho many aare living there now?

Another guy I knew married to a Mexican told me 5 or 6 years ago that her mortgage company employer was giving out loans too illegals right and left. There used to be lots of Hispanic agents on Spanish television.

$$$ talks and no questions asked.

My son and DIL just got approved for a home loan. They have decided to wait, however, to see how this thing goes.

There is a large, very large corporation I know. One of their companies, also very, very large, is a big employer of illegals. This same company has it's very own bank - several branches.

I wonder how much of our taxpayer dollars was used to make loans through that company bank to illegal employees of that company?

nntrixie

I am sure the illegal employee's made out, you can bank on it!!

I'm sure they did.

I always heard that is how they bought their vehicles - and the payments were made through payroll deductions.

So could a bank make these loans, and then sell the mortgages to some of these people that are folding? Is that how it works?

I do believe so! alot of people were foreclosed on because they could not afford the payments (and they knew it when they got the loan)..banks use those loans as a write off, and you can bet alot of them are tied up in this deal, as is credit cards and car loans.

So a company bank could make loans to it's illegal employees, then just sell the paper to other banks.

The company bank has made money and is off the hook, and we taxpayers are on the hook.