Thursday, August 26, 2010

FORECLOSURES & ILLEGALS - Who Pays? Who Profits LA RAZA DONOR WELLS FARGO?

In Rep. Dan Tancredo’s district there have been more than 10,000 mortgages owned by illegals that went into foreclosure. It’s only part of the border to border crime wave perpetrated by illegals from Mexico.
Time to fight AMNESTY and OPEN BORDERS?
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E-Verify for Mortgage Applications (fraudulent claims from illegal immigrant)


Rep. Kenny Marchant Proposes Bill to use E-Verify for Mortgage Applications
Tuesday, February 9, 2010, 9:56 AM EST - posted on NumbersUSA


Rep. Kenny Marchant
Rep. Kenny Marchant (R-Texas) has offered the Mortgage E-Verify Act that would require a mortgagor to be verified through E-Verify when applying for a modification of a home loan owned by Fannie Mae or Freddie Mac.

"As a member of the House Financial Services Committee, I am happy to introduce my bill, the Mortgage E-Verify Act, which would require, as a condition for modification of a home mortgage loan held by Fannie Mae or Freddie Mac or insured by the Federal Housing Administration (FHA), that the mortgagor be verified under the E-Verify program," Rep. Marchant said in a press release. "My bill will potentially save millions by cutting down on fraudulent claims from illegal immigrants and protect taxpayers from subsidizing the restructuring or renegotiation mortgages of illegal immigrants."

Rep. Marchant's bill is a result of a major case in Nevada where a loan officer submitted false income and employment documentation to help illegal aliens secure FHA loans. The scam totaled $6.2 million in loans with many going into default, costing HUD nearly $2 million. The loan officer was found guilty on 32 counts of submitting false information.

"E-Verify is a fantastic program which I have supported making permanent for employers," Rep. Marchant said. "Mandating its use as a condition for home mortgage loan modifications would help eliminate waste, fraud, and abuse in the system and bring integrity to the process. In fact, the Treasury Department's Financial Crimes Enforcement division (FinCEN) estimates that mortgage fraud increased 1,411 percent from 1997 to 2005. Furthermore, two-thirds of fraud reports in the last decade are due to falsified statements on loan documents. My bill would curb these abuses and protect the taxpayers."
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Lou Dobbs Tonight
Monday, November 12, 2007

Mortgage giants Wells Fargo and Countrywide Financial are accused of slapping dubious fees on homeowners struggling to save their homes. With fewer new mortgages being written, these
companies appear to be leaning on these lucrative fees to stay profitable—with devastating consequences for homeowners. We’ll have that report.
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States that border Mexico caused the meltdown (simply loans to ILLEGALS)
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September 25, 2008

It’s also no accident that the vast majority of the mortgages already defaulted on or about to default come from states where illegal immigration is the most rampant. According to the New York Times: California, Arizona, Texas and Florida. It was time to scam America internally and externally.

(THE POPULATION OF HARRY REID’S STATE OF NEVADA IS NOW 25% ILLEGAL. REID HAS WORKED TIRELESSLY FOR MORE ILLEGALS AND OBTAINED $5 MILLION ADDITIONAL TAX PAYER DOLLARS FOR LA RAZA! LAS VEGAS HAS ONE OF THE HIGHEST RATES OF FORECLOSURES IN AMERICA!)

The mortgages, with an average size of about $450,000, were Alt-A loans — the kind often referred to as liar loans, because lenders made them without the usual documentation to verify borrowers’ incomes or savings. Some of the loans came only via an on-line application with no appearance of the person getting the loan was needed. Nearly 60 percent of the loans were made in California, Florida and Arizona, where home prices rose — and subsequently fell — faster than almost anywhere else in the country.

But there’s so much more, according to blogger and journalist Michelle Malkin:

Regional reports across the country have decried the subprime meltdown’s impact on illegal immigrant “victims.” A July report showed that in seven of the 10 metro areas with the highest foreclosure rates, Hispanics represented at least one-third of the population; in two of those areas – Merced and Salinas-Monterey, Calif. – Hispanics comprised half the population. The amnesty-promoting National Council of La Raza and its Development Fund have received millions in federal funds to “counsel” their constituents on obtaining mortgages with little to no money down; the group almost succeeded in attaching a $10 million earmark for itself in one of the housing bills past this spring. ( Proving corruption in high levels of our government) our SENATORS are opperating in a Clandestine manner.

(A clandestine operation is an intelligence or military operation carried out in such a way that the operation goes unnoticed).

Come on people it is 1776 all over again. Some of the owners of the Federal Reserve live in England and Germany. The largest shareholder in the illegal stock of the Federal Reserve lives in England, by the way, this is why England's money is worth the most on earth. Gold prices are set in London each morning. The Euro is the second strongest currency followed by the USA.....we are mere puppets for paying the piper to make these people rich beyond imagination.

So, once again, U. S. citizens will pay for the lawlessness of our leaders and their friends on Wall Street. It is a very bad time for our country!

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