Thursday, October 9, 2008

HUD: Mortgage Crisis Linked to Illegal Immigrants

The U.S. Department of Housing and Urban Development (HUD) confirmed the subprime mortgage crisis' link to illegal immigration. HUD is reporting that more than five million fraudulent home mortgages were taken out by illegal immigrants.
The problem began years ago when banks were forced to give mortgages without confirming social security numbers or borrower identification. As a result, illegal immigrants were able to obtain home mortgages which they could not afford.

We've discussed this link here, and began doing so over a year ago here and here. We've asked for the federal government to investigate this link. Hopefully, this new announcement by HUD will force congress to stop burying its head in the sand and act.

UPDATE: The above link to the HUD announcement has been removed. You can view the Google cache version here.

7 comments:

Anonymous said...

Let's just hope this story continues to make it's rounds and becomes more public knowledge. THIS TRUTH MUST BE KNOWN.

The PC-bible is finally getting the flames that are overdue, due to the fact that PC-ism is nothing but criminal hypocrisy that needs to be flushed down the toilet.

PC-ism and the Dems that have forced it down our throats are going to have to deal with our anger:

We are angry for having to pay for the cleanup for ACORN, Fannie, Freddie, illegal immigration, and the wasted time and money associated with this crap. PC-ism finally has an official price tag and it's $700 BILLION.

Anonymous said...

The first link you quote has not text and just goes to a talk radio station.

There's nothing there, just like your theory.

James said...

Maybe you should read closer. The news radio station that wrote the article took it down after it was linked by drudgereport and mention on rushlimbaugh. We posted the google cache so you can read the article.

I guess the truth hurts your agenda, so go ahead and keep onl beliving it's not true.

Anonymous said...

There is no such report in the HUD website. I click on YOUR link and it refers me to a page written by YOU that concludes that, because Latinos are hurting in the real estate bubble, it's therefore undocumented immigrants that are causing the market crash. It's as if you expect that, if you repeat this lie enough, it will become true. If anybody believes this leap of logic, there's lots of bridges in New York you may be interested in.

James said...

Again, you can click the link to the original article in the area that says "UPDATE"

The news radio station has also posted a followup. HUD refuses to discuss the issue.

http://thekansascitian.blogspot.com/2008/10/hud-denies-illegal-immigrant-data.html

James said...

Thought you might find the data in these articles interesting. They all support our claims:

http://www.washingtonpost.com/wp-dyn/content/article/2008/03/22/AR2008032202086_2.html?sid=ST2008032300183

http://www.ocregister.com/money/loans-camile-percent-1806121-subprime-loan

You can find many more links to mainstream media articles in which the writer unwhittingly admits the link in our older posts on the subject.

Forrest Cutler said...

I can say that having been in the mortgage industry, and running a website trying to cleanup the brokerage industry by getting borrowers the best mortgage rates that indeed there were plenty of loan options a couple years ago (and possibly sooner) that allowed for people without a valid SSN to obtain a mortgage.