Skip to comments.Banking on illegal immigrants (Flashback August 8, 2005)
Posted on 12/05/2007 5:19:36 PM PST by mdittmar
Banks are seeing an untapped resource in providing home loans to undocumented U.S. residents
The banking industry is opening its doors to a controversial new market: illegal immigrants.
(Excerpt) Read more at money.cnn.com ...
“This probably had nothing to do with the current situation.”
Nope, no way.
Seems to me that one or two of us predicted a problem or two.
“Banks are seeing an untapped resource in providing home loans to
undocumented U.S. residents”
What a difference less than two years can make!
Well it must have sounded like a great idea “at the time” as for
Well-Fargo in this article from JAN 16th, 2006:
Embracing aliens: Wells Fargo offering home loans to
And look where Well-Fargo home loans got before the end of 2007:
Wells Fargo To Take $1.4 billion Charge For Bad Loans
Yahoo News ^ | November 26, 2007 | Jonathan Stempel
See links at post 8, 9 and 13.
I LOVE this quote from the article:
“Executives at Wells Fargo were not immediately available for further comment.”
Yeah, probably afraid one of them will publically spill the beans:
“We made deals with criminals that BROKE into the USA...and we’re
SHOCKED, SHOCKED I tell you that they turned out to be bad loan risks!”
Gee, ya thing these illegals had anything to do with the sub prime crackup?
Nah, couldn’t be.
bump for publicity
It worked out good in the end though, right?
Nice message to send the illegals. Come here illegally, break the law, and you too can live the American dream. Heck there are honest to goodness AMERICANS that aren't living the American Dream, why should these illegals even be able to fantasize about it?
Not a citizen? No problem......
“undocumented U.S. residents” = illegal Mexicans = Barbarian hords.
Savage just said the feds forced the banks to give loans to illegals. Is this part of the NAU? It now appears the illegals will be bailed out and we are going to pay for it. Either the feds didnt think it thru or it was planned.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.