Tuesday, September 30, 2008

Timothy Sandos: a real prophet

The (illegal) American Dream
May 3, 2007

The nation’s big banks, scrambling for customers, are pitching mortgages to illegal immigrants.

Two years ago, making home loans to people who are in the U.S. illegally was largely limited to community banks that wanted to revitalize neighborhoods by offering low-cost mortgages to local workers. There are signs that these loans, which comply with regulatory requirements and which represent a sliver of the nation’s $10 trillion mortgage market, are starting to take off in the broader banking industry.

Whoever hits the street first with these loans will be the winner,” says Timothy Sandos, president of the National Association of Hispanic Real Estate Professionals. The group says at least $85 billion of mortgages could be originated from 375,000 households occupied by undocumented renters, up from an estimated $44 billion from 216,000 households a few years ago.

Good call Timothy. You bet $700,000,000,000 that being a racist who lends money to criminals would be a financial winner. Unfortunately it looks like you bet with our money.

From his bio at The National Association of Hispanic Real Estate Professionals:
Sandos was executive vice president of Emerging Markets for St. Louis-based CitiMortgage, where he led the company's programs and initiatives that targeted minority and underserved market segments throughout the nation.


Anonymous said...

Hmmmm...Bad Mortgages to Illegal's + over 1/2 million Jobs replaced by Illegal's this year alone + millions of Jobs shipped to Mexico, China & India + $700 Billion Get out of Jail Card for Bankers + recent $85 Billion bailout for AIG + $150 Billion in "Stimulus" checks + We owe China over $500 Billion + $100's of Billions due for Medicaid prescription plan + + + + +

This "Free" trade, NAFTA, Open borders Agenda, non stop flow of desperate 3rd World workers, North American Union, New World Order stuff are really GREAT for the economy huh?

Solution? Pull 1/2 the Troops from Japan, Germany & Korea and put them on America's Borders & Ports (American Military defending America-wow).
Make E-Verify mandatory for all companies Nationwide and ALL Government agencies do NOT give one penny in services to Illegal's.

Bobkatt said...

Instead we have a gun shoved to our head and are told if we don't bail out these criminals they will take us down. To add more insult to injury, Paulson first demanded that the money be paid all at once. (Maybe in unmarked bills in a brown paper bag.) Oh yeah, they also demand no oversight or audits and want a portion of the profits, ha-ha, to go to Acorn and La Raza. Oh yeah, they also want us to purchase this bullshit paper not at current market value but at a projected higher value that they may be worth later.

Maybe we should turn this mess over to the Mafia. I think it would be a lot better run and cost less.

Scottiebill said...

Good idea, Bobkatt, about turning the mess over to the Mafia. And they know how to deal with the crooks who started this mess, don't they?

Anonymous said...

Fuck these mother fuckers. That is all.

Anonymous said...

anon 3:46
real smart answer!

Anonymous said...

Curiously missing from your rants: it's not the Hispanics (regardless of status) who are foreclosing, in fact, they're losing their homes at far lesser rates than Anglos. Seems most Hispanic homeowners buy homes they can actually afford.

I know you guys love to blame everything on "Mexicans" but you just can't make this one stick on account of those pesky little facts so easily accessed by The Google.

Facts. Don't ya just love 'em?

Anonymous said...

4:32, fuck you, bra. Go suck an AIDS-Infected DICK?

Don't like how I talk to you? Next time, keep your fucking mouth shut as I wasn't talking to you in the first place, smart guy.

Anonymous said...

Anon 5:59 PM, if what you say is true, I'm sure there is something going on that you are not bringing up. I will bet that hispanics are given (as are other minorities) some kind of financial help. Remember the criminal aliens get free medical, education and other perks that Americans don't. Don't forget they also pack the whole family of dozens into houses. You need to think outside the box. I'm sure I could think of other items, but I'm focusing my energy on trying to stop this bailout for wall street billionaires and foreign banks.

Scottiebill said...

Anon 1103, I am thinking you could be right about many of the immigrants being given some sort of financial aid from someone.

In my neighborhood, we have a number of Russian (they could be Ukrainian, I'm not sure)families. They seem to always have the newest cars, the latest boats, etc. A couple of them are truckers - owner-operators - who always have the newest model tractors and trailers that come out. They are apparently independents because I don't see any trucking company logos on their cabs as per ICC rules if they are leased to a company. I'v been curious where their money is coming from, especially now that Diesel prices are through the roof.