Banking on Illegals (Blatant criminality..UNREAL!)

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.

"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....

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

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.
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Email Us...

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

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.

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.

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.

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