The delinquency rate for FHA loans is still more than three times higher than normal loans, and depending on the period, have hovered between 8% and 14%. Time to bring in the illegal aliens.
It's unknown how many illegal aliens have taken out FHA loans, but some media stories have cited loan officers for whom illegal alien FHA loans represent a significant percentage of their business.
The Trump administration has applied the brakes to this avalanche of taxpayer-insured mortgages to illegal aliens.
Much of the furor over FHA loans for illegal aliens was stirred up by Dani Hernandez, an underwriter for NewCastle Home Loans.
NewCastle in Chicago markets aggressively to DACA illegal aliens, declaring, "Don't let the political climate worry you. DACA recipients are eligible to buy a home." It also assures the illegal aliens that they can qualify for FHA loans and it "Specializes in working with DACA recipients."
The more illegal aliens end up with FHA loans, and as those FHA loans are turned into Ginnie Mae Mortgage Backed Securities, deporting DACA illegal aliens would risk mass defaults on FHA loans which are backed by American taxpayers.
Taxpayer-backed mortgages for illegal aliens are only the tip of the tottering FHA iceberg that President Trump needs to begin shutting down to avoid another recession caused by bad loans.
https://www.frontpagemag.com/fpm/273245/trump-stops-taxpayer-backed-mortgages-illegal-daniel-greenfield
It's unknown how many illegal aliens have taken out FHA loans, but some media stories have cited loan officers for whom illegal alien FHA loans represent a significant percentage of their business.
The Trump administration has applied the brakes to this avalanche of taxpayer-insured mortgages to illegal aliens.
Much of the furor over FHA loans for illegal aliens was stirred up by Dani Hernandez, an underwriter for NewCastle Home Loans.
NewCastle in Chicago markets aggressively to DACA illegal aliens, declaring, "Don't let the political climate worry you. DACA recipients are eligible to buy a home." It also assures the illegal aliens that they can qualify for FHA loans and it "Specializes in working with DACA recipients."
The more illegal aliens end up with FHA loans, and as those FHA loans are turned into Ginnie Mae Mortgage Backed Securities, deporting DACA illegal aliens would risk mass defaults on FHA loans which are backed by American taxpayers.
Taxpayer-backed mortgages for illegal aliens are only the tip of the tottering FHA iceberg that President Trump needs to begin shutting down to avoid another recession caused by bad loans.
https://www.frontpagemag.com/fpm/273245/trump-stops-taxpayer-backed-mortgages-illegal-daniel-greenfield
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