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Banking on Illegals (Blatant criminality..UNREAL!)
The Pittsburgh Tribune Review ^ | 05/28/05 | Dimitri Vassiloros

Posted on 05/28/2005 9:57:39 PM PDT by smoothsailing

Banking on illegals

By Dimitri Vassilaros

TRIBUNE-REVIEW

Sunday, May 29, 2005

New South Federal Savings Bank is giving illegal aliens home mortgages to help them realize the American dream.

Its Casa Mia program is designed to help tax-paying immigrants "without traditional forms of documentation" -- like anything indicating they are Americans. Remedios Gomez Arnau, consul general of Mexico in Atlanta, is working closely with the massive Alabama-based bank "to ensure the accurate identification of Mexican immigrants." Said Senor Arnau: "We are excited to see a loan product specifically aimed at helping Mexican immigrants."

New South describes itself as Alabama's largest thrift with $1.4 billion in assets. It has residential mortgage loan offices in 13 states and services home loans in 30 more, the District of Columbia and the Virgin Islands. If enough illegals apply, New South plans to offer Casa Mia mortgages in Atlanta, Phoenix and Houston "in the near future." Unless, that is, the bank officers are arrested for helping to harbor illegal aliens.

'CLEAR VIOLATION'

"What this bank is doing is a clear violation of the U.S. Immigration and Nationality Act," said Craig Nelsen, executive director of Friends of Immigration Law Enforcement. FILE describes itself as an association of legal and legislative volunteers working on behalf of Americans to ensure that immigration law is being enforced. "If any loans are issued, they are liable for arrest," Nelsen said. "On TV, you see poor Mexican kids being led away in handcuffs. We need these bank directors led away in handcuffs."

It is a felony to encourage an alien to reside in the United States, knowing that such residence is in violation of the law, Nelsen stated in a letter to New South.

It is hard to imagine almost any court taking seriously ...CONTINUED AT LINK BELOW....

(Excerpt) Read more at pittsburghlive.com ...


TOPICS: Business/Economy; Crime/Corruption; Culture/Society; Editorial; Foreign Affairs; Mexico; News/Current Events; US: Alabama; War on Terror
KEYWORDS: aliens; banking; border; illegalimmigration; illegals; immigration; mexico; weareallminutemennow
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To: bayourod; rbd3

Didn't know rdb3 was a fed... And all this time I thought it was the government's job to enforce the law.


51 posted on 05/28/2005 10:58:34 PM PDT by streetpreacher (God DOES exist; He's just not into you!)
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To: Bulgaricus
Looks like a job for The Terminator!
52 posted on 05/28/2005 10:59:11 PM PDT by smoothsailing (Qui Nhon Turtle Co.)
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To: bayourod
Please tell me you don't live in a house built partially by illegal immigrants.

What if I am living in a house built partially by illegal immigrants? All that means is that the homebuilder violated federal laws if he knowingly hired any illegal alien workers. What does that have to do with me as a homeowner? I didn't violate any laws by buying the house. You make some of the most ridiculous arguments in favor of illegal immigration that I've ever read.

53 posted on 05/28/2005 11:02:00 PM PDT by judgeandjury
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To: bayourod
Do you buy goods or services from any companies that employ illegal aliens? If so you are as morally responsible for facilitating the residency of illegal aliens as a bank that loans them money.

BS. Now you're just stinking up this thread with your illogical reasoning. Comparing a bank that KNOWINGLY loans money to an illegal alien with an consumer who DOESN'T KNOW whether or not a company he buys goods or services from has illegal aliens on its payroll just shows how desperate your arguments in favor of illegal immigration have become.

54 posted on 05/28/2005 11:08:02 PM PDT by judgeandjury
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Comment #55 Removed by Moderator

To: steenkeenbadges
New South is just like the Old South. Envious Northern industrialists lusted for the cheap labor and large land tracts. When President Lincoln decreed that he would not allow them to plunder the defeated Southern landowners, he signed his own death warrant.

IMHO, this is all in "the Plan" and no one on earth can stop it. Welcome to one-world government.


Complete ignorance of history, with a healthy dash of conspiracy theory.

Did you get lost on your way to Libertypost?
56 posted on 05/28/2005 11:10:52 PM PDT by A Balrog of Morgoth (With fire, sword, and stinging whip I drive the RINOs in terror before me.)
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To: bayourod

Why don't you stop putting up the strawmen, and explain to us why it's A-OK for any US business to knowingly hire, or cater to, illegal aliens?


57 posted on 05/28/2005 11:13:19 PM PDT by A Balrog of Morgoth (With fire, sword, and stinging whip I drive the RINOs in terror before me.)
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To: garyhope

You are right. The United States is one of only a few countires where you do not have to be a citizen to own property.


58 posted on 05/28/2005 11:13:56 PM PDT by skimask (I only fly on planes with two right wings)
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To: international american

I firmly believe that any bank that knowingly and willingly conducts business with illegal aliens, be it a home loan or a checking account, be stripped of their FDIC designation.


59 posted on 05/28/2005 11:20:26 PM PDT by politicalwit (USA...A Nation of Selective Law Enforcement.)
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To: politicalwit

Well, the big banks are spending millions to lobby for a small change in the banking laws that would allow them to make billions of dollars catering to illegal criminals.


60 posted on 05/28/2005 11:28:40 PM PDT by international american (Tagline now flameproof....purchased from "Conspiracy Guy Custom Taglines"LLC)
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To: A Balrog of Morgoth

Balrog, bayourod knows it is illegal, but he is pro illegal immigration. Just read his last 100 posts, and you will see. I enjoy reading your posts , by the way.

best,
Tim


61 posted on 05/28/2005 11:31:12 PM PDT by international american (Tagline now flameproof....purchased from "Conspiracy Guy Custom Taglines"LLC)
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To: smoothsailing

These corporate pigs will sell America to the highest bidder. Open your eyes! They are becoming a major threat to your liberty.


62 posted on 05/28/2005 11:40:53 PM PDT by rimmont
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To: international american
I noticed that when I read his profile. Paragraphs of rationalization about Pat Buchanon, Tancredo, and some group that accuses people of rape because they have hispanic surnames.

He's apparently one of those few that actually think that open borders are essential to increasing the pct of the hispanic vote the GOP gets.

Not very principled, if you ask me, to place a minor political advantage for the GOP ahead of enforcement of the nation's laws. And not very smart, politically either....

It's the conservative activists that get out the vote, and write the checks, and we are the ones who are upset with the open borders.

A negligible uptick in the hispanic vote is a poor tradeoff for an apathetic base, come election time.

And, thanks for the compliment.

FRegards,

Jeremy
63 posted on 05/28/2005 11:44:06 PM PDT by A Balrog of Morgoth (With fire, sword, and stinging whip I drive the RINOs in terror before me.)
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To: rimmont
They are becoming a major threat to your liberty.

Nothing new about that sort of thing. Check out some the crap that corporations were selling to the Union Army during the Civil War.
64 posted on 05/28/2005 11:45:37 PM PDT by A Balrog of Morgoth (With fire, sword, and stinging whip I drive the RINOs in terror before me.)
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To: rimmont

Let not your heart be troubled, my friend.My eyes are wide open.


65 posted on 05/28/2005 11:46:40 PM PDT by smoothsailing (Qui Nhon Turtle Co.)
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To: bayourod
You're like the Energizer bunny cheerleader for illegals - you just keep rooting and rooting and rooting...

"Blessed are the illegals for without them we could do nothing"
66 posted on 05/28/2005 11:48:16 PM PDT by Texas_Jarhead
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To: Texas_Jarhead
"Blessed are the illegals for without them we could do nothing"

Dang, you hit it right on the head.
67 posted on 05/28/2005 11:56:54 PM PDT by A Balrog of Morgoth (With fire, sword, and stinging whip I drive the RINOs in terror before me.)
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Comment #68 Removed by Moderator

To: smoothsailing

New South Federal Savings Bank Launches Loan Product (Casa Mia)

05/10/2005
BIRMINGHAM, AL – May 9, 2005 – New South Federal Savings Bank is launching a new loan product, Casa Mia, to expand homeownership opportunities for taxpaying immigrants.

Casa Mia is designed to help taxpaying immigrants without traditional forms of documentation realize their dreams of homeownership by accepting Individual Tax Identification Numbers (ITINs) as documentation in lieu of Social Security numbers (SSNs).

Since 1996, the Internal Revenue Service (IRS) has been issuing ITINs in order to receive taxes from immigrants. More recently, mortgage providers in the Midwest began using ITIN lending to help taxpaying immigrants become homeowners. However, a recent report by the Census Bureau shows that 29.2% of all foreign-born residents live in the South. Yet there are few, if any, mortgage lenders with home loans to serve this market.

“As a leader in residential lending, we understand the importance of homeownership to both individuals and communities,” Robert M. Couch, CEO and President of New South explains, “These are taxpayers who are giving back to our communities and deserve a fair chance to experience the American dream of homeownership.”

The Consul General of Mexico in Atlanta is working closely with New South to ensure the accurate identification of Mexican immigrants using the latest in technology to combat false Identification. Consul General, Remedios Gomez Arnau, attended New South’s launch of Casa Mia. “We are excited to see a loan product specifically aimed at helping Mexican immigrants. Casa Mia is helping break down the barriers to homeownership that this community has faced in the past. By becoming homeowners, these individuals will be able to become further involved in the local community.”

Predatory lending is an example of one of the many barriers immigrants have faced. Since traditional banking institutions did not have a product to fit their needs, some immigrants who attempted to become homeowners were taken advantage of by unscrupulous lenders. Johnny Creel, President of Seguro Realty and Insurance, has helped Birmingham immigrants find homes and has seen this first hand, “These are legitimate workers paying taxes, social security and Medicare who want to become mainstream. Many of them have taken out mortgages with rates has high as 11% because, at the time, there simply was no other outlet. By offering Casa Mia, New South is providing a safe, effective way to help immigrants become homeowners.”

In order to qualify for Casa Mia, borrowers have to prove at least two years residency and two years steady employment. They can use the ITINs and government issued photo ID in place of the SSNs, but they must have excellent credit. The program also requires each applicant to undergo homeownership counseling to ensure the borrower completely understands the logistics and responsibilities of owning their own home. New South plans to offer counseling in both Spanish and English through the Birmingham Center for Homeownership.

According to Cenus Bureau data, over 33.5 million foreign-born residents live in the United States. Couch recognizes this to be an ever-growing segment of the population, “It is important that we embrace this emerging market."

New South is initially launching Casa Mia in Birmingham and plans to expand the product to the Atlanta/Duluth, Phoenix and Houston markets in the near future.
###


Email Us...

http://www.newsouthfederal.com/customer_service/


69 posted on 05/29/2005 12:09:48 AM PDT by kcvl
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To: rbd3
Casa Mia is designed to help (ILLEGAL)taxpaying immigrants without traditional forms of documentation realize their dreams of homeownership by accepting Individual Tax Identification Numbers (ITINs) as documentation in lieu of Social Security numbers (SSNs).
70 posted on 05/29/2005 12:15:11 AM PDT by kcvl
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To: streetpreacher
May 10, 2005

Thrift targets mortgage product to undocumented (ILLEGAL) Hispanics

A new mortgage product for immigrants who lack Society Security numbers has been unveiled by New South Federal Savings Bank.

Casa Mia, a 20-year, fixed-rate loan, allows people to borrow as long as they have two years of residency, two years' steady employment and an Individual Tax Identification Number from the IRS. The borrower must also have sufficient credit standing.

Geared toward Hispanic people, Casa Mia is being launched in Birmingham and will then be expanded to the Atlanta/Duluth, Phoenix and Houston markets. The bank found that, based on chamber numbers, Birmingham is at the center of north Alabama's growing Hispanic population, which increased 208 percent between 1990 and 2000. Six of the state's seven counties with an Hispanic growth rate exceeding 575 percent are within 75 miles of Birmingham.

snip

Mexican consul general Maria De Los Remedios Gomez-Arnau and New South Federal's vice president of community reinvestment, Marth Walters-Pierce, are scheduled to join Couch Monday morning at the Crestwood Boulevard location to introduce the new product. Loan applicants receive counseling about the responsibilities of homeownership.

71 posted on 05/29/2005 12:20:16 AM PDT by kcvl
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To: kcvl
They make it sound so noble.

What a crock.

72 posted on 05/29/2005 12:20:32 AM PDT by smoothsailing (Qui Nhon Turtle Co.)
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To: Red Sea Swimmer
The words "Banking" and "Sovereignty" don't appear in the same dictionary.

You got that right!

73 posted on 05/29/2005 12:22:46 AM PDT by c-b 1
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To: smoothsailing

MARIA DE LOS REMEDIOS GOMEZ ARNAU, MEXICO Cónsul General

74 posted on 05/29/2005 12:23:14 AM PDT by kcvl
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To: Texas_Jarhead
I don't condone the violation of federal laws by people who hire illegals. But at the same time I don't live in fear of undocumented laborers who are providing essential goods and services without which our economy could not continue to grow.

I simply recognize the economic reality that our policy makers have to work with.

Rounding up eleven million people and kicking them out of the country is not a real option in today's political and cultural climate.

Did you see the reaction of FReepers to the thread a coup[le days ago about the Canadian couple separated from their 15 year old daughter because they were not allowed to return to the U.S.? Imagine the heart wrenching pictures and stories of 11 million people being uprooted and dislocated. It would rival the relocation horrors of Russia and China.

Sealing our borders is no a real option. It would be impossible. The only realistic solutions involve some type of guest worker program.

75 posted on 05/29/2005 7:05:42 AM PDT by bayourod (Unless we get over 40% of the Hispanic vote in 2008, President Hillary will take all your guns away.)
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To: bayourod

"undocumented laborers"

The legal term is "illegal aliens". Oh, the laws don't apply to the illegals in your opinion. You're one sick puppy.


76 posted on 05/29/2005 9:43:42 AM PDT by politicalwit (USA...A Nation of Selective Law Enforcement.)
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To: smoothsailing; MeekOneGOP; devolve; Gipper08; OXENinFLA; Boazo; Reagan Man; Reaganwuzthebest; ...
Clear and present violations - law breaking with the approval of the Federal Government . .

=================================

'Clear violation'

"What this bank is doing is a clear violation of the U.S. Immigration and Nationality Act," said Craig Nelsen, executive director of Friends of Immigration Law Enforcement. FILE describes itself as an association of legal and legislative volunteers working on behalf of Americans to ensure that immigration law is being enforced.

"If any loans are issued, they are liable for arrest," Nelsen said. "On TV, you see poor Mexican kids being led away in handcuffs. We need these bank directors led away in handcuffs."

It is a felony to encourage an alien to reside in the United States, knowing that such residence is in violation of the law, Nelsen stated in a letter to New South.

77 posted on 05/29/2005 9:47:24 AM PDT by Happy2BMe ("Viva La Migra" - LONG LIVE THE BORDER PATROL!)
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To: smoothsailing
Maybe the person who said why be a US citizen because the benefits are not much better than or as good as being an illegal alien breaking federal law.

We now know that the left wingers John McCaniac and Teddy the killer Kennedy place the value of citizenship at about 2,000 dollars.

Illegals can get home loans and all the benefits without having to serve this country in any way.

Not only that, they get all the best medical service at your expense.

Where is the line for those citizens who want to sign up for illegal alien status.
78 posted on 05/29/2005 9:51:51 AM PDT by OKIEDOC (LL THE)
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To: smoothsailing

To cash a check at Bank of America now, you must have two forms of ID. A drivers license and a Credit Card from a major bank. No debit or check cards count. I guess I will change my name to Jose Jiminez.


79 posted on 05/29/2005 10:06:10 AM PDT by jeremiah (Is it not treason, to allow the flow of illegals to be unchecked?)
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To: bayourod
"It would rival the relocation horrors of Russia and China"

That is a shamefull comparison to the illegal alien situation in the USA.I hope you rethink that.

80 posted on 05/29/2005 10:17:55 AM PDT by smoothsailing (Qui Nhon Turtle Co.)
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To: eddie willers

"And they will get away with it.

Until all the defaults start to come in."


And probably afterwards. The loans get securitized and resold.


81 posted on 05/29/2005 10:51:39 AM PDT by Pearls Before Swine
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To: smoothsailing

You know, if these illegals really knew what they believed in and what they were doing instead of being led around by their noses and false beliefs; they would clean up their own country.


82 posted on 05/29/2005 11:01:45 AM PDT by freekitty
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To: Happy2BMe
All bank officials could be charged under:
Title 18 U.S.C. Sec. 4, "Misprison of felony."

83 posted on 05/29/2005 11:08:28 AM PDT by Smartass (Si vis pacem, para bellum - Por el dedo de Dios se escribió)
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To: smoothsailing

"New South Federal Savings Bank is giving illegal aliens home mortgages to help them realize the American dream."

The City of Madison, WI is doing the same thing:

http://www.freerepublic.com/focus/f-news/1405620/posts


84 posted on 05/29/2005 11:12:55 AM PDT by Diana in Wisconsin (Save The Earth. It's The Only Planet With Chocolate.)
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To: VeniVidiVici

>>New South Federal Savings Bank is giving illegal aliens home mortgages<<



After the completion of the loan, the federal government buys the loan from the bank (thru FANNIE MAE) and the bank continues to service the loan by collecting the monthly mortgage payments. Or they may sell the servicing contract to another company.


85 posted on 05/29/2005 12:19:20 PM PDT by B4Ranch ( Report every illegal alien that you meet. Call 866-347-2423, it's a FREE CALL)
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To: smoothsailing

If it is against federal law for banks to do what they're doing then it's time to sue them since the feds obviously don't care. In Kansas the college tuition for illegals is being challenged and this Federal Savings Bank can be as well.


86 posted on 05/29/2005 12:40:27 PM PDT by Reaganwuzthebest
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To: Smartass; B4Ranch; Reagan Man; Reaganwuzthebest; Gipper08; MeekOneGOP; devolve; OXENinFLA; ...
Provided by 'SMARTASS' . .

=================================

§ 4. Misprision of felony

Release date: 2004-08-06

Whoever, having knowledge of the actual commission of a felony cognizable by a court of the United States, conceals and does not as soon as possible make known the same to some judge or other person in civil or military authority under the United States, shall be fined under this title or imprisoned not more than three years, or both.

All bank officials could be charged under: Title 18 U.S.C. Sec. 4, "Misprison of felony

And how the bankers wash their filthy hands from it and keep from going to jail (#85) . .

"After the completion of the loan, the federal government buys the loan from the bank (thru FANNIE MAE) and the bank continues to service the loan by collecting the monthly mortgage payments. Or they may sell the servicing contract to another company."

87 posted on 05/29/2005 12:48:14 PM PDT by Happy2BMe ("Viva La Migra" - LONG LIVE THE BORDER PATROL!)
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To: smoothsailing; All
If every law abiding citizen withdrew their money from New South and let them know why, I think it would cause a rethinking of the policy.
88 posted on 05/29/2005 12:52:39 PM PDT by CaptainK
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To: Happy2BMe
#85 does not trump the statute!
89 posted on 05/29/2005 12:52:53 PM PDT by Smartass (Si vis pacem, para bellum - Por el dedo de Dios se escribió)
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To: Smartass

No, but it gives a good audit trail (that nobody in the FED has any interest of following).


90 posted on 05/29/2005 12:57:58 PM PDT by Happy2BMe ("Viva La Migra" - LONG LIVE THE BORDER PATROL!)
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To: bayourod

I wish we could deport you.


91 posted on 05/29/2005 1:04:25 PM PDT by austinite
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To: Happy2BMe
Where the Feds have taken the American citizen out of the equation, courts have ruled, that a citizen cannot prosecute a criminal case.   Civil yes, criminal no...Hence, when justice remains blind, it isn't being served!
92 posted on 05/29/2005 1:08:26 PM PDT by Smartass (Si vis pacem, para bellum - Por el dedo de Dios se escribió)
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To: eddie willers; international american

See #85.

The banks transfer all of the risk to you and me when they sell the loan to FANNIE MAE. We are the ones who will pay if the FANNIE MAE pyramid ever collapses.



93 posted on 05/29/2005 2:00:02 PM PDT by B4Ranch ( Report every illegal alien that you meet. Call 866-347-2423, it's a FREE CALL)
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To: freekitty

>>they would clean up their own country.<<

That is not an issue today. They came to corrupt our contry and they are doing a great job of it. Congratulations are in order!

If we won't get off our dead butts to save it by evicting legislators one after the other until we get to the core group who understands what is happening, why should the illegals want to do more?

Hiney, free money is just that. It is free money for the receiver. We are paying it and all we want to do is whine but we will reelect the same party officials who put us in the mess. Of that I am almostr positve.

How often do you read about a thread on FR that promotes common sense ideas towards building a solid 3rd party that could present some serious competition to both the R's and the D's. The current flock of legislators at all levels, are comfortable in their chairs and there is no serious competition that I can see. Nor do I think there will be any. We're too comfortable watching our country spiral downhill.


94 posted on 05/29/2005 2:11:52 PM PDT by B4Ranch ( Report every illegal alien that you meet. Call 866-347-2423, it's a FREE CALL)
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To: bayourod
I don't condone the violation of federal laws by people who hire illegals. But at the same time I don't live in fear of undocumented laborers who are providing essential goods and services without which our economy could not continue to grow.

If we need foreign workers to help our economy grow, we can let in more LEGAL immigrants. We don't need illegal alien lawbreakers.

Rounding up eleven million people and kicking them out of the country is not a real option in today's political and cultural climate.

We don't need to round up any illegal aliens. Cut off ALL taxpayer funded services to illegal aliens while at the same time crack down HARD on businesses that knowingly hire illegal aliens. With no prospects for a job and no taxpayer funded goodies available to them, illegal aliens will begin to voluntarily head back to their home countries.

95 posted on 05/29/2005 2:16:29 PM PDT by judgeandjury
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To: Smartass

We have lost another round. Sad to say on this Memorial Day.

Go here if you don't believe me. Check out these down payments.

http://www.newswithviews.com/guest_opinion/guest52.htm

Proof of citizenship is not required. This is Bush's American Dream. Read the whole page and you will be disgusted.


96 posted on 05/29/2005 2:36:12 PM PDT by texastoo ("trash the treaties")
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To: Reaganwuzthebest

These aren't your common loans. Banks across the United States are writing the loans based on individual taxpayer identification number, or ITIN. No SSI number needed for these. No driver license ID needed, just the Mexican Consular ID.

Just so long as the IRS thinks they'll get their cut, everything will be fine! Only an IRS-issued document can be accepted for proof of your ITIN by a bank.

One company, Milwaukee-based Mortgage Guaranty Insurance, now offers private insurance on the loans, which reduces risks for banks and makes the mortgages easier to resell. The Federal Deposit Insurance Corp. is helping a group of Midwest banks to develop ITIN programs.


Senator Orrin Hatch's D.R.E.A.M. Act okayed giving them college educations so they can afford to pay for mortgages. Everything is going to be OK so just go back to watching TV. You don't mind subsidizing a college education for an untold number of illegal aliens, do you? Why complain about buying them homes? You have one, don't you?

Calm down. All of this is happpening under governmental oversight. Our elected officials have our best interesats in mind, (I hope)lol


97 posted on 05/29/2005 2:39:35 PM PDT by B4Ranch ( Report every illegal alien that you meet. Call 866-347-2423, it's a FREE CALL)
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To: judgeandjury

Are you certain that logic is allowed on this thread? It is an anti illegal immigrant you know.


98 posted on 05/29/2005 2:42:15 PM PDT by B4Ranch ( Report every illegal alien that you meet. Call 866-347-2423, it's a FREE CALL)
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To: texastoo
Very frustrating and disappointing.   I love and have supported President Bush and will continue to do so.   However, he's totally out of touch and lost on this issue.
99 posted on 05/29/2005 2:53:46 PM PDT by Smartass (Si vis pacem, para bellum - Por el dedo de Dios se escribió)
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To: Smartass

Bush knows exactly what he is doing. He is not a conservative. I won't argue as Bush is not worth it.


100 posted on 05/29/2005 3:08:02 PM PDT by texastoo ("trash the treaties")
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