A U.S. Congressman from Texas has just introduced a bill intended to prevent mortgage fraud by illegal aliens.
The Mortgage E-Verify Act, introduced by Rep. Kenny Marchant (R, Texas 24th), would require that the identity of all applicants for new or modified mortgages held by Fannie Mae or Freddie Mac or insured by the FHA, be confirmed through the E-Verify program of the Department of Homeland Security.
"My bill will potentially save millions by cutting down on fraudulent claims from illegal immigrants and protect taxpayers from subsidizing the restructuring or renegotiation mortgages of illegal immigrants," said Rep. Marchant in a press release.
Marchant cites Treasury Department data showing that incidents of mortgage fraud increased an estimated 1,411 percent from 1997 to 2005. "Furthermore, two-thirds of fraud reports in the last decade are due to falsified statements on loan documents," he noted. "My bill would curb these abuses and protect the taxpayers."
There was a major case in Nevada where a mortgage company branch manager conspired to manufacture and submit false employment and income documentation for borrowers, most of whom were illegal immigrants. Fifty-eight of the 233 fraudulent FHA loans totaling $6.2 million have, not surprisingly, gone into default, costing HUD nearly $2 million. The branch manager was found guilty on 32 counts of submitting false information to HUD, and one count of conspiracy. -- U.S. Rep. Kenny Marchant press release.
The FBI defines mortgage fraud as "a material misstatement, misrepresentation, or omission relied upon by an underwriter or lender to fund, purchase, or insure a loan."
Also See:
Do Illegal Aliens Have Constitutional Rights?
Should the US Census Count Illegal Aliens?
What are Fannie Mae and Freddie Mac?
Comments
http://new.wehategringos.com/?page_id=13
What is the argument here? every single alien “BROKE THE LAW!” Our Government, past & present, Republican & Democrat, have allowed the invasion of 20 to 30 million criminals and uneducated peons which is the largest invasion of any Nation, at any time, by any means & in direct violation of Article IV, Section IV of our Constitution.
This refusal to abide by our Constitution or enforce our Immigration Laws should be classified as Treason of the most foul kind, & as grounds for impeachment & trials for Treason!
Not only have they allowed the invasion, they force American tax payers to pay Billions on Billions of dollars to provide Welfare, Prison cells, Educate the invaders numerous children, and free medical care, at the same time the invading horde break numerous laws and massive document fraud, & are destroying our schools, hospitals, communities, culture and standard of living while Robbing, Raping, Killing & Assaulting American Citizens WAKE UP PEOPLE!
Every patriotic American and legal resident can accomplish something to halt or recede the illegal immigration occupiers of our nation, which includes contacing ICE. We all know the astronomical costs in hospital treatment, education, prison and unrevealed government entitlement. Americans must stand together and demand all immigration laws be rigidly enforced. Our own impoverished, hopeless people remain in terrible poverty, will our politicians have been heavily influenced by open border lobbyists. We need a in-perpetuity E-Verify verification program to differentiate from illegal and illegal workers for each state internal use.Every worker who has been employed for 30 years or just hired–MUST–be identified in every company. In addition the 287 (g) federal program that has not been established by every state, county or city police department.
This program also-MUST–be established and paid for by the government to train local police to apprehend illegal foreign nationals. Including in the SAVE ACT law, is the rescinded NO-MATCH-LETTER, that identifies discrepancies in cross-references a possible bogus name that doesn’t correspond with a Social Security number. The No Match letter must be resurrected, including Homeland Security Secretary Napolitiano who has compromised under handily slowed ICE audits and raids on businesses using illegal aliens. Our government has even been reckless in underfunding the Southern border fence, that as stated in The Secure Fence Act (Pub.L. 109-367) was enacted October 26, 2006 was meant to be constructed in as a two tier fence. Each one of these laws have been silently either underfunded or secretly smothered, so it became weak in enforcement. Congressman Kenny Marchant (TX-24) has authored a new law to reveal fraudulent mortgages, using E-Verify. Congressman Kenny Marchant (TX-24) His bill would curb mortgage abuses and protect the taxpayers.” But E-Verify has universal innovations to uncover fraudulent drivers licenses, vehicle registration, even for those who illegally applying for welfare.
Then how can Pelosi tell us, that our fence is secure, when Arizona-Tucson sector border officers explain that “Out of ten (10) illegal immigrants, only one (1) is caught.” I think anybody who believes our country has just 12 million illegal people, will believe just about anything Washington reports. Could they be giving this number, as they hiding the truth as they are readying to his us with this non-nonsensical AMNESTY? Not only will it have millions streaming across the Canadian and Southern border, before the act is signed? While millions more will try and slip through the enforcement net, for a future AMNESTY. Were you aware that Bush set up a Social Security totalization treaty with Mexico, with loopholes so illegal aliens could access billions of dollars? Are you also aware that massive numbers of tourists and students have for decades were never expected to leave our shores.
Learn more at NUMBERSUSA & JUDICIAL WATCH for the truth. Incidentally–THOSE WHO ENTERED–LEGALLY THROUGH ELLIS ISLAND DEMANDED NOTHING! TODAY, ALTHOUGH ILLEGAL THEY ARE COMING HERE WITH A DIFFERENT ATTITUDE, DEMANDING RIGHTS THEY DON’T HAVE.
What excuse do politicians have to sell American jobs overseas, while importing discount labor. Enact amendment to the 1986 Simpson-Mazzoli bill, don’t use propaganda to say the laws were broken–when never enforced. Tell your Washington and state Senators and Representatives what–YOU–want, and not–CONSPIRE–with the special interest lobbyists? Here’s the Capitol Switchboard number 202-224-3121 ONE LANGUAGE, ONE FLAG AND DEPORT–ALL–ILLEGAL IMMIGRANTS. IT CAN BE DONE WITH THE NEW GENERATION OF E-VERIFY.
Never any copyright. Let “THE PEOPLE” know. Copy & Paste and distribute freely.
Seems like a good bill to me.
“which is the largest invasion of any Nation, at any time, by any means”
LOL
You should study a little more history. You’ll discover the largest invasion was that of Europeans to America, not just what is now the U.S., but the whole American continent.
Gotta love wet backs, you can use them as a scape goat for anything.