Banks Find Mortgage Clientele in Undocumented Immigrants
Banks Find Mortgage Clientele in Undocumented Immigrants
Their lender, Mitchell Bank, hasn't had a single late payment or delinquency on the $3.5 million of ITIN mortgage loans it has made since 2000, said James Maloney, chairman. "These are our best-performing assets," he said. "These are folks who are appreciative of the fact that we're willing to take a chance on them."
Others offering the loans include Neighborhood Housing Services of America based in Oakland, Calif., Banco Popular in Houston, and the Self-Help Credit Union based in Durham, N.C.
Second Federal Savings of Chicago has made $90 million of ITIN loans in the past nine months, said Mark Doyle, chief executive.
Their lender, Mitchell Bank, hasn't had a single late payment or delinquency on the $3.5 million of ITIN mortgage loans it has made since 2000, said James Maloney, chairman. "These are our best-performing assets," he said. "These are folks who are appreciative of the fact that we're willing to take a chance on them."
Others offering the loans include Neighborhood Housing Services of America based in Oakland, Calif., Banco Popular in Houston, and the Self-Help Credit Union based in Durham, N.C.
Second Federal Savings of Chicago has made $90 million of ITIN loans in the past nine months, said Mark Doyle, chief executive.
posted by drsancho at 7:39 AM
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