““Exclusive: How Many Subprime Mortgages Were Awarded to Illegal Aliens?”
I’m guessing it’s a pretty small number. There were many loans made to unqualified people that are US citizens. That’s the problem..”
One is too many. These policies were made for and by organizations like LaRaza, who Fannie Mae and others contribute millions to every year. BAC, Wells Fargo, WaMu all made a big play a couple years ago for these illegal alien customers. There are thousands of them.
Bank of America to offer bank accounts, credit cards to illegal immigrants
[snip]
Fifty-one branches of Bank of America in Los Angeles County are launching the promotion.
Bank of America says they are simply going after an existing customer base in the Los Angeles area.
http://www.wwaytv3.com/node/396
“Exclusive: How Many Subprime Mortgages Were Awarded to Illegal Aliens?”
Why, because they went south?
depository bank accounts are much different than mortgages.
The taxpayers are picking up the tab for mortgages that go bad, not bank accounts.