{"id":604,"date":"2008-01-27T21:54:00","date_gmt":"2008-01-27T21:54:00","guid":{"rendered":"http:\/\/www.arkansasfreedom.net\/?p=604"},"modified":"2008-01-27T21:54:00","modified_gmt":"2008-01-27T21:54:00","slug":"arvest-bank-wal-mart-gives-mortgages-for-illegals-to-buy-homes-illegal-by-fed-laws","status":"publish","type":"post","link":"https:\/\/arkansasfreedom.net\/?p=604","title":{"rendered":"Arvest Bank (Wal-Mart) gives mortgages for illegals to buy homes–illegal by Fed. Laws"},"content":{"rendered":"

Thanks to Sharon for this
\none.  <\/span>The Crime Families strike again,
\nthis time the Walton\u00e2\u20ac\u2122s (Wal-Mart).  <\/span>There
\nis nothing they won\u00e2\u20ac\u2122t do (e.g. Tyson\u00e2\u20ac\u2122s, George\u00e2\u20ac\u2122s, O.K. Foods, Simmons, et al.)
\nto make a buck and screw the taxpaying citizens\u00e2\u20ac\u00a6and they do it with the help of
\nscofflaw government agencies.  <\/span><\/o:p><\/span><\/p>\n

It\u00e2\u20ac\u2122s a good and rare thing
\nfor officials to actually arrest and incarcerate illegal alien criminals but it\u00e2\u20ac\u2122s
\nanother to ignore other Federal immigration laws.  <\/span>Please see below
\nour comments & the existing laws in red.<\/o:p><\/span><\/span><\/p>\n

 <\/o:p><\/span><\/p>\n

Check
\nyourself.  Find out how RARE mortgages are to people who had no Fed ID or
\nsocial security number that also have suspiciously Hispanic names.<\/span><\/o:p><\/span><\/p>\n

And how
\ndo you foreclose on a mortgage to an illegal who has no legal standing?<\/span><\/o:p><\/span><\/p>\n

Or the
\nContract for Deed where a straw buyer recontracts to illegals?<\/span><\/o:p><\/span><\/p>\n

Who owns
\nArvest Bank? Check Alice Walton of WalMart . . . .<\/span><\/o:p><\/span><\/p>\n

   
\n               
\n               
\n               
\n               
\n               
\n               
\n        Sharon Stark, Little Rock<\/o:p><\/span><\/p>\n

Mortgages for illegals to buy houses are OK but rare
\nin Arkansas<\/o:p><\/span><\/b><\/p>\n

Arkansas Democrat-Gazette<\/o:p><\/span><\/p>\n

By
\nMark Minton<\/o:p><\/span><\/p>\n

Sunday,
\nJanuary 27, 2008<\/o:p><\/span><\/p>\n

ROGERS<\/span><\/span> \u00e2\u20ac\u201d While Arturo Reyes Jr. sits in jail on
\ncharges of harboring illegal aliens, his wife and co-defendant, Silvia, is
\nunder federal detention at their home – a brick house with a soaring foyer and
\na soccer goal in the yard.<\/o:p><\/span><\/p>\n

There\u00e2\u20ac\u2122s also
\na hole dug for a backyard pool – a project that may have to wait.<\/o:p><\/span><\/p>\n

The Reyeses\u00e2\u20ac\u2122
\nplans were upended last month when immigration agents raided the family
\nbusiness, Acambaro Mexican restaurants.<\/o:p><\/span><\/p>\n

Prosecutors
\nare mounting a criminal case and are moving to seize the Reyeses\u00e2\u20ac\u2122 home and
\nother properties they call the fruits of the illegal labor the Reyeses are
\naccused of using in their restaurants. <\/o:p><\/span><\/p>\n

(<\/span>Federal
\nImmigration and Nationality Act
\nSection 8 USC 1324(a)(1)(A)(iv)(b)(iii)<\/span><\/b><\/a><\/o:p><\/span><\/p>\n

“Any
\nperson who . . . encourages or induces an alien to . . . reside . . . knowing
\nor in reckless disregard of the fact that such . . . residence is . . . in
\nviolation of law, shall be punished as provided . . . for each alien in respect
\nto whom such a violation occurs . . . fined under title 18 . . . imprisoned not
\nmore than 5 years, or both.”<\/o:p><\/span><\/p>\n

Section
\n274 felonies under the federal Immigration and Nationality Act, INA
\n274A(a)(1)(A):<\/o:p><\/span><\/p>\n

A
\nperson (including a group of persons, business, organization, or local
\ngovernment) commits a federal felony when she or he:<\/o:p><\/span><\/p>\n

*
\nassists an alien s\/he should reasonably know is illegally in the U.S. or who
\nlacks employment authorization, by transporting, sheltering, or assisting him
\nor her to obtain employment, or<\/o:p><\/span><\/p>\n

*
\nencourages that alien to remain in the U.S. by referring him or her to an
\nemployer or by acting as employer or agent for an employer in any way, or<\/o:p><\/span><\/p>\n

*
\nknowingly assists illegal aliens due to personal convictions.<\/o:p><\/span><\/p>\n

Penalties
\nupon conviction include criminal fines, imprisonment, and forfeiture of
\nvehicles and real property used to commit the crime. Anyone employing or
\ncontracting with an illegal alien without verifying his or her work
\nauthorization status is guilty of a misdemeanor. Aliens and employers violating
\nimmigration laws are subject to arrest, detention, and seizure of their
\nvehicles or property. In addition, individuals or entities who engage in
\nracketeering enterprises that commit (or conspire to commit)
\nimmigration-related felonies are subject to private civil suits for treble
\ndamages and injunctive relief.<\/o:p><\/span><\/p>\n

Largely
\novershadowed: the bank that holds the mortgages. Arvest Bank in Bentonville is
\none of the few banks in Northwest Arkansas where an illegal alien can hope to
\nget a mortgage loan. (See statute above)<\/o:p><\/span><\/span><\/p>\n

The Dec. 10
\nraid at Acambaro restaurants in Washington and Benton counties rounded up19
\nillegal aliens for deportation and landed the Reyeses and two Acambaro managers
\nin jail on charges that they knowingly hired illegal workers. <\/o:p><\/span><\/p>\n

Recruitment
\nand Employment of Illegal Aliens<\/span><\/b><\/o:p><\/span><\/p>\n

It
\nis unlawful to hire an alien, to recruit an alien, or to refer an alien for a
\nfee, knowing the alien is unauthorized to work in the United States. It is
\nequally unlawful to continue to employ an alien knowing that the alien is
\nunauthorized to work. Employers may give preference in recruitment and hiring
\nto a U.S. citizen over an alien with work authorization only where the U.S.
\ncitizen is equally or better qualified. It is unlawful to hire an individual
\nfor employment in the United States without complying with employment
\neligibility verification requirements. Requirements include examination of
\nidentity documents and completion of Form I-9 for every employee hired.
\nEmployers must retain all I-9s, and, with three days’ advance notice, the forms
\nmust be made available for inspection. Employment includes any service or labor
\nperformed for any type of remuneration within the United States, with the
\nexception of sporadic domestic service by an individual in a private home. Day
\nlaborers or other casual workers engaged in any compensated activity (with the
\nabove exception) are employees for purposes of immigration law. An employer
\nincludes an agent or anyone acting directly or indirectly in the interest of
\nthe employer. For purposes of verfication of authorization to work, employer
\nalso means an independent contractor, or a contractor other than the person
\nusing the alien labor. The use of temporary or short-term contracts cannot be
\nused to circumvent the employment authorization verification requirements. If
\nemployment is to be for less than the usual three days allowed for completing
\nthe I-9 Form requirement, the form must be completed immediately at the time of
\nhire.<\/o:p><\/span><\/p>\n

An
\nemployer has constructive knowledge that an employee is an illegal unauthorized
\nworker if a reasonable person would infer it from the facts. Constructive
\nknowledge constituting a violation of federal law has been found where (1) the
\nI-9 employment eligibility form has not been properly completed, including supporting
\ndocumentation, (2) the employer has learned from other individuals, media
\nreports, or any source of information available to the employer that the alien
\nis unauthorized to work, or (3) the employer acts with reckless disregard for
\nthe legal consequences of permitting a third party to provide or introduce an
\nillegal alien into the employer’s work force. Knowledge cannot be inferred
\nsolely on the basis of an individual’s accent or foreign appearance.<\/o:p><\/span><\/p>\n

Actual
\nspecific knowledge is not required. For example, a newspaper article stating
\nthat ballrooms depend on an illegal alien work force of dance hostesses was
\nheld by the courts to be a reasonable ground for suspicion that unlawful
\nconduct had occurred.<\/o:p><\/span><\/p>\n

IT
\nIS ILLEGAL FOR NONPROFIT OR RELIGIOUS ORGANIZATIONS to knowingly assist an
\nemployer to violate employment sanctions, REGARDLESS OF CLAIMS THAT THEIR
\nCONVICTIONS REQUIRE THEM TO ASSIST ALIENS. Harboring or aiding illegal aliens
\nis not protected by the First Amendment. It is a felony to establish a commercial
\nenterprise for the purpose of evading any provision of federal immigration law.
\nViolators may be fined or imprisoned for up to five years.<\/o:p><\/span><\/p>\n

Arturo Reyes Jr. has
\npleaded innocent to a three-count indictment alleging he harbored and shielded
\nillegal aliens by providing them with financial support through employment.
\nReyes also is charged with money laundering. He is scheduled for trial Feb. 25
\nin U.S. District Court. Silvia Reyes has yet to be formally charged.<\/span><\/o:p><\/span><\/p>\n

The family\u00e2\u20ac\u2122s
\n$460,000 home in a gated neighborhood in Rogers stands as the most obvious
\nsymbol of the wealth that prosecutors allege the Reyeses accumulated by
\nexploiting illegal workers.<\/o:p><\/span><\/p>\n

The U.S.
\nattorney\u00e2\u20ac\u2122s office in Fort Smith contends the Reyeses should forfeit the house,
\nthe lot next door and nine other properties, including restaurants and a
\nwarehouse, because \u00e2\u20ac\u0153they were used in the commission of, or are properties
\nwhich were derived from and represent the proceeds of, the concealing or
\nharboring of an alien or aliens.\u00e2\u20ac\u009d<\/o:p><\/span><\/p>\n

While an
\nemployer who hands an illegal immigrant a paycheck risks 10 years in prison and
\nthe loss of his property for harboring an illegal alien, a bank that lends an
\nalien the money to buy a house and settle down in the country is well within
\nthe law. (No, they are not).<\/o:p><\/span><\/span><\/p>\n

Encouraging
\nand Harboring Illegal Aliens<\/span><\/b><\/o:p><\/span><\/p>\n

It
\nis a violation of law for any person to conceal, harbor, or shield from
\ndetection in any place, including any building or means of transportation, any
\nalien who is in the United States in violation of law. HARBORING MEANS ANY CONDUCT THAT TENDS TO SUBSTANTIALLY FACILITATE AN
\nALIEN TO REMAIN IN THE U.S. ILLEGALLY<\/b>. The sheltering need not be
\nclandestine, and harboring covers aliens arrested outdoors, as well as in a
\nbuilding. This provision includes harboring an alien who entered the U.S.
\nlegally but has since lost his legal status.<\/o:p><\/span><\/p>\n

An
\nemployer can be convicted of the felony of harboring illegal aliens who are his
\nemployees if he takes actions in reckless disregard of their illegal status,
\nsuch as ordering them to obtain false documents, altering records, obstructing
\nINS inspections, or taking other actions that facilitate the alien’s illegal
\nemployment. Any person who within any 12-month period hires ten or more
\nindividuals with actual knowledge that they are illegal aliens or unauthorized
\nworkers is guilty of felony harboring. It is also a felony to encourage or
\ninduce an alien to come to or reside in the U.S. knowing or recklessly
\ndisregarding the fact that the alien’s entry or residence is in violation of
\nthe law. This crime applies to any person, rather than just employers of
\nillegal aliens. Courts have ruled that “encouraging” includes
\ncounseling illegal aliens to continue working in the U.S. or assisting them to
\ncomplete applications with false statements or obvious errors. The fact that
\nthe alien is a refugee fleeing persecution is not a defense to this felony,
\nsince U.S. law and the UN Protocol on Refugees both require that a refugee must
\nreport to immigration authorities without delay upon entry to the U.S.<\/o:p><\/span><\/p>\n

The
\npenalty for felony harboring is a fine and imprisonment for up to five years.
\nThe penalty for felony alien smuggling is a fine and up to ten years’
\nimprisonment. Where the crime causes serious bodily injury or places the life
\nof any person in jeopardy, the penalty is a fine and up to twenty years’
\nimprisonment. If the criminal smuggling or harboring results in the death of
\nany person, the penalty can include life imprisonment. Convictions for aiding, abetting, or conspiracy to commit alien
\nsmuggling or harboring,<\/b> carry the
\nsame penalties<\/b>. Courts can impose consecutive prison sentences for each
\nalien smuggled or harbored. A court may order a convicted smuggler to pay
\nrestitution if the alien smuggled qualifies as a victim under the Victim and
\nWitness Protection Act. Conspiracy to commit crimes of sheltering, harboring,
\nor employing illegal aliens is a separate federal offense punishable by a fine
\nof up to $10,000 or five years’ imprisonment.<\/o:p><\/span><\/p>\n

Arvest lent
\nthe Reyes family more than $2 million for houses and restaurant properties that
\ngovernment prosecutors are now moving to seize, mortgages on file at the Benton
\nCounty Courthouse show.<\/o:p><\/span><\/p>\n

In
\neach case, the bank made the loans to Arturo Jr. and Silvia Reyes, who
\nprosecutors have identified as illegal aliens, the documents show.<\/span><\/strong> Nearly all of the
\nmortgages also name family patriarch Arturo Reyes Sr. and his wife, Serafina,
\nwho are legal U.S. residents. The note for the vacant lot next door to the
\nReyes house was signed by Arturo Jr. and Silvia alone.<\/o:p><\/span><\/p>\n

Enforcement<\/span><\/b><\/o:p><\/span><\/p>\n

A
\nperson or entity having knowledge of a violation or potential violation of
\nemployer sanctions provisions may submit a signed written complaint to the INS
\noffice with jurisdiction over the business or residence of the potential
\nviolator, whether an employer, employee, or agent. The complaint must include
\nthe names and addresses of both the complainant and the violator, and detailed
\nfactual allegations, including date, time, and place of the potential
\nviolation, and the specific conduct alleged to be a violation of employer
\nsanctions. By regulation, the INS will only investigate third-party complaints
\nthat have a reasonable probability of validity. Designated INS officers and
\nemployees, and all other officers whose duty it is to enforce criminal laws,
\nmay make an arrest for violation of smuggling or harboring illegal aliens.<\/o:p><\/span><\/p>\n

State
\nand local law enforcement officials have the general power to investigate and
\narrest violators of federal immigration statutes without prior INS knowledge or
\napproval, as long as they are authorized to do so by state law. There is no
\nextant federal limitation on this authority. The 1996 immigration control
\nlegislation passed by Congress was intended to encourage states and local
\nagencies to participate in the process of enforcing federal immigration laws.
\nImmigration officers and local law enforcement officers may detain an
\nindividual for a brief warrantless interrogation where circumstances create a
\nreasonable suspicion that the individual is illegally present in the U.S.
\nSpecific facts constituting a reasonable suspicion include evasive, nervous, or
\nerratic behavior; dress or speech indicating foreign citizenship; and presence
\nin an area known to contain a concentration of illegal aliens. Hispanic
\nappearance alone is not sufficient. Immigration officers and police must have a
\nvalid warrant or valid employer’s consent to enter workplaces or residences.
\nAny vehicle used to transport or harbor illegal aliens, or used as a
\nsubstantial part of an activity that encourages illegal aliens to come to or
\nreside in the U.S. may be seized by an immigration officer and is subject to
\nforfeiture. The forfeiture power covers any conveyances used within the U.S.<\/o:p><\/span><\/p>\n

Tax
\nCrimes<\/span><\/b><\/o:p><\/span><\/p>\n

Employers
\nwho aid or abet the preparation of false tax returns by failing to pay income
\nor Social Security taxes for illegal alien employees, or who knowingly make
\npayments using false names or Social Security numbers, are subject to IRS
\ncriminal and civil sanctions. U.S. nationals who have suffered intentional
\ndiscrimination because of citizenship or national origin by an employer with
\nmore than three employees may file a complaint within 180 days of the
\ndiscriminatory act with the Special Counsel for Immigration-Related Unfair
\nEmployment Practices, U.S. Department of Justice. In additon to the federal
\nstatutes summarized, state laws and local ordinances controlling fair labor
\npractices, workers compensation, zoning, safe housing and rental property, nuisance,
\nlicensing, street vending, and solicitations by contractors may also apply to
\nactivities that involve illegal aliens.<\/o:p><\/span><\/p>\n

Arvest is
\none of a small number of banks that make mortgage loans to customers who don\u00e2\u20ac\u2122t
\nhave Social Security numbers and thus could be illegal aliens, according to an
\nArkansas Democrat-Gazette survey of 26 banks in Washington and Benton counties.
\nThe two counties are home to most of the state\u00e2\u20ac\u2122s Hispanic immigrants.<\/o:p><\/span><\/p>\n

Arvest
\nspokesman Jason Kincy declined to discuss the Reyes mortgages, saying he
\ncouldn\u00e2\u20ac\u2122t discuss a customer\u00e2\u20ac\u2122s business.<\/o:p><\/span><\/p>\n

But he said
\nmortgages extended to borrowers without Social Security numbers make up a \u00e2\u20ac\u0153very
\nsmall\u00e2\u20ac\u009d portion of Arvest\u00e2\u20ac\u2122s mortgage portfolio and that the bank complies with
\nall federal rules on mortgages.<\/o:p><\/span><\/p>\n

\u00e2\u20ac\u0153We\u00e2\u20ac\u2122re well
\nwithin the regulations to make those loans,\u00e2\u20ac\u009d Kincy said. (Not so, see statutes above)<\/o:p><\/span><\/span><\/p>\n

Of the 18
\nbanks that responded to the newspaper\u00e2\u20ac\u2122s survey, only Arvest and ANB Financial
\nin Rogers said they don\u00e2\u20ac\u2122t automatically disqualify borrowers who cannot show a
\nvalid visa or other proof of residency.<\/o:p><\/span><\/p>\n

ITIN
\nMORTGAGES<\/span><\/strong><\/o:p><\/span><\/p>\n

Instead of
\nthe usual Social Security numbers, banks may make the loans on the basis of an
\nIndividual Taxpayer Identification Number. The Internal Revenue Service issues
\nthe nine-digit taxprocessing number to individuals who don\u00e2\u20ac\u2122t qualify for Social
\nSecurity numbers but earn income in the United States. It\u00e2\u20ac\u2122s a way for the
\nfederal government to collect taxes from them.<\/o:p><\/span><\/p>\n

Some banks
\nmake mortgage loans to customers with Individual Taxpayer Identification
\nNumbers, and some do not. In Northwest Arkansas, banks that make the loans take
\nvarious approaches.<\/o:p><\/span><\/p>\n

\u00e2\u20ac\u0153We do not
\noffer ITIN mortgages except in very, very rare cases,\u00e2\u20ac\u009d said Terry Francisco, a
\nspokesman for Bank of America. \u00e2\u20ac\u0153Let\u00e2\u20ac\u2122s say someone is a French citizen and they
\nwant to buy a second home in the U.S. We might consider that,\u00e2\u20ac\u009d he said.<\/o:p><\/span><\/p>\n

At Regions
\nBank, Keith Smith said a borrower who can showlegal residency can get a
\nmortgage under a taxpayer-identification number. \u00e2\u20ac\u0153As long as the consumer has a
\nwork visa, which means, generally speaking, that they\u00e2\u20ac\u2122re not going to have a
\nSocial Security number, then we do have some ways. But you\u00e2\u20ac\u2122ve got to show a
\nwork visa.\u00e2\u20ac\u009d<\/o:p><\/span><\/p>\n

Most banks
\nsurveyed said they do not make mortgage loans to customers without Social
\nSecurity numbers. A few, such as Priority Bank, said they haven\u00e2\u20ac\u2122t adopted a
\npolicy because no one has ever showed up wanting such a mortgage.<\/o:p><\/span><\/p>\n

A handful of
\nbanks didn\u00e2\u20ac\u2122t return calls inquiring about their policies.<\/o:p><\/span><\/p>\n

At First
\nSecurity, based in Searcy, vice president Kathryn Sims said the mortgage
\ndepartment once made the loans but gave up because they weren\u00e2\u20ac\u2122t worth the
\ntrouble.<\/o:p><\/span><\/p>\n

\u00e2\u20ac\u0153We may have
\nmade one or two, and then discovered just how much was involved with them,\u00e2\u20ac\u009d she
\nsaid.<\/o:p><\/span><\/p>\n

Such mortgages
\nmake up a tiny share of the mortgage market, bankers and regulators say.<\/o:p><\/span><\/p>\n

Banks
\ntypically don\u00e2\u20ac\u2122t promote the loans, which can be contentious.<\/o:p><\/span><\/p>\n

Critics said
\nthe mortgages encourage illegal immigration, and banks should stop making them.<\/o:p><\/span><\/p>\n

\u00e2\u20ac\u0153It\u00e2\u20ac\u2122s been
\nillegal to hire undocumented workers in the U.S.,\u00e2\u20ac\u009d said Bob Dane, spokesman for
\nthe Federation for American Immigration Reform. \u00e2\u20ac\u0153But under the current laws, it
\nis not illegal for a bank to provide a mortgage. But that doesn\u00e2\u20ac\u2122t make it
\nright, and it doesn\u00e2\u20ac\u2122t mean that the practice is helping us get illegal
\nimmigration under control.\u00e2\u20ac\u009d<\/o:p><\/span><\/p>\n

At the
\nCenter for Immigration Studies, which favors less immigration, spokesman Bryan
\nGriffith said the bank rules don\u00e2\u20ac\u2122t square with the nation\u00e2\u20ac\u2122s efforts to round up
\nand deport illegal immigrants and arrest employers.<\/o:p><\/span><\/p>\n

\u00e2\u20ac\u0153It\u00e2\u20ac\u2122s a
\nmixed message,\u00e2\u20ac\u009d he said. \u00e2\u20ac\u0153Basically what the government says is, once you get
\nthrough the border control\u00e2\u20ac\u2122s buffer, you are very unlikely to be caught. You
\ncan get a job; you can get a bank account; you can get a mortgage and never be
\ncaught.\u00e2\u20ac\u009d<\/o:p><\/span><\/p>\n

\u00e2\u20ac\u02dcAN
\nOPTION\u00e2\u20ac\u2122<\/span><\/strong><\/o:p><\/span><\/p>\n

Bankers and
\nbank regulators say it\u00e2\u20ac\u2122s not their job to enforce immigration laws. (See the clearly written laws cited here)<\/o:p><\/span><\/span><\/p>\n

Arvest,
\nowned by the Walton family of Bentonville, is only following a path that
\nfederal banking laws and regulations plainly set out, Kincy said. He said the
\nbank\u00e2\u20ac\u2122s policy is also in keeping with its efforts not to discriminate.<\/o:p><\/span><\/p>\n

\u00e2\u20ac\u0153We don\u00e2\u20ac\u2122t
\nhave an aggressive push to go after those loans,\u00e2\u20ac\u009d he said. \u00e2\u20ac\u0153But as customers
\ncome to us, that\u00e2\u20ac\u2122s an option we can provide.\u00e2\u20ac\u009d<\/o:p><\/span><\/p>\n

Arvest
\nrequires that borrowers meet the requirements of IRS information-reporting
\nregulations, he said.<\/o:p><\/span><\/p>\n

Asked if the
\nbank would make a mortgage loan to a borrower who openly disclosed he was an
\nillegal alien, Kincy said lending money to illegal aliens wasn\u00e2\u20ac\u2122t the goal of
\nthe bank.<\/o:p><\/span><\/p>\n

Arvest\u00e2\u20ac\u2122s
\nmortgage applications ask prospective borrowers to check \u00e2\u20ac\u0153yes\u00e2\u20ac\u009d or \u00e2\u20ac\u0153no\u00e2\u20ac\u009d if they
\nare a legal U.S. citizen or a permanent resident, he said.<\/o:p><\/span><\/p>\n

He added,
\nhowever, that \u00e2\u20ac\u0153loan requests may not be denied solely due to a person not being
\na U.S. citizen or a resident alien.\u00e2\u20ac\u009d<\/o:p><\/span><\/p>\n

ANB
\nFinancial, formerly known as Arkansas National Bank, has a similar approach.
\nThe bank originates Individual Taxpayer Identification Number loans under a
\nprogram offered by Bank of Bartlett, a Memphis area bank that aggregates and
\nservices such loans, said Mary Alice Granata, vice president of real-estate
\noperations for ANB.<\/o:p><\/span><\/p>\n

She said ANB
\nfollows the guidelines for the Bank of Bartlett\u00e2\u20ac\u2122s program, which aims \u00e2\u20ac\u0153to help
\nAmerica\u00e2\u20ac\u2122s immigrant and un-banked populations attain home-ownership.\u00e2\u20ac\u009d<\/o:p><\/span><\/p>\n

Under
\n\u00e2\u20ac\u0153Eligible Borrowers,\u00e2\u20ac\u009d the guidelines list only \u00e2\u20ac\u0153nonpermanent resident aliens\u00e2\u20ac\u009d
\nand \u00e2\u20ac\u0153citizens and permanent residents\u00e2\u20ac\u009d – people in the country legally. But the
\nguidelines add that \u00e2\u20ac\u0153proof of legal residency is not required.\u00e2\u20ac\u009d<\/o:p><\/span><\/p>\n

Granata said
\nANB has made only \u00e2\u20ac\u0153three or four\u00e2\u20ac\u009d mortgages under the program.<\/o:p><\/span><\/p>\n

LOANS
\nACCEPTABLE<\/span><\/strong><\/o:p><\/span><\/p>\n

Kevin Mukri,
\nspokesman for the Comptroller of the Currency, which regulates federal banks,
\nsaid they are well within their bounds to make mortgage loans to illegal
\naliens.<\/o:p><\/span><\/p>\n

\u00e2\u20ac\u0153The bank
\ndoes not enforce immigration policy for the United States,\u00e2\u20ac\u009d Mukri said.<\/o:p><\/span><\/p>\n

Although the
\nUSAPATRIOT Act requires banks to \u00e2\u20ac\u0153know their customer\u00e2\u20ac\u009d and verify IDs, it
\nspecifically authorizes the use of either an Individual Taxpayer Identification
\nNumber or a Social Security number, he said.<\/o:p><\/span><\/p>\n

It\u00e2\u20ac\u2122s wrong
\nto assume that everyone showing up for a loan without a Social Security number
\nis an illegal alien, he noted. \u00e2\u20ac\u0153Some people for religious reasons won\u00e2\u20ac\u2122t have a
\nSocial Security number,\u00e2\u20ac\u009d he said. \u00e2\u20ac\u0153Some are on student visas.\u00e2\u20ac\u009d<\/o:p><\/span><\/p>\n

One reason
\nmore banks don\u00e2\u20ac\u2122t make mortgage loans to those without Social Security numbers
\nhas nothing to with immigration. The loans aren\u00e2\u20ac\u2122t easy to sell, said Anna
\nPaulson, a researcher in the Federal Reserve Bank of Chicago\u00e2\u20ac\u2122s Center for the
\nStudy of Financial Access for Immigrants.<\/o:p><\/span><\/p>\n

Fannie Mae
\nand Freddie Mac, government-sponsored companies that buy mortgages to help the
\nmarket work, won\u00e2\u20ac\u2122t buy such mortgages, Paulson said.<\/o:p><\/span><\/p>\n

At Legacy
\nNational Bank, Ray Segura, vice president of lending, said he was discouraged
\nby the high interest rates typically charged to such borrowers.<\/o:p><\/span><\/p>\n

\u00e2\u20ac\u0153I don\u00e2\u20ac\u2122t
\nbelieve in gouging people\u00e2\u20ac\u2122s eyes out,\u00e2\u20ac\u009d he said.<\/o:p><\/span><\/p>\n

Segura said
\nhis bank had an interest in making the loans but couldn\u00e2\u20ac\u2122t find an investor to
\nbuy them.<\/o:p><\/span><\/p>\n

Arvest, the
\nstate\u00e2\u20ac\u2122s largest bank and No. 1 mortgage lender, keeps 98 percent of the
\nmortgages it makes, so it doesn\u00e2\u20ac\u2122t face that obstacle.<\/o:p><\/span><\/p>\n

No one
\nanswered the door of the Reyes home on a recent afternoon, and an attempt to
\nsecure an interview through an intermediary failed.<\/o:p><\/span><\/p>\n

The mortgage
\ndocuments show that Arturo Reyes Sr., Serafina Reyes, Arturo Reyes Jr. and
\nSilvia Reyes took out a $418,500 15-year mortgage on their house in Rogers in
\nJune 2006.<\/o:p><\/span><\/p>\n

Arvest
\ncharged an initial rate of 8 percent, well above the national average of 6.3
\npercent for 15-year fixed mortgages at the time, according to Freddie Mac.<\/o:p><\/span><\/p>\n

After five
\nyears, the rate was to reset to an adjustable rate floating above an index
\nbased on U.S treasury prices. A cap set the maximum rate at 14 percent.<\/o:p><\/span><\/p>\n

Front
\nSection, Pages 1, 11 on 01\/27\/2008<\/span><\/em><\/o:p><\/span><\/p>\n

RICO
\n— Citizen Recourse<\/span><\/b><\/o:p><\/span><\/p>\n

Private
\npersons and entities may initiate civil suits to obtain injunctions and treble
\ndamages against enterprises that conspire to or actually violate federal alien
\nsmuggling, harboring, or document fraud statutes, under the
\nRacketeer-Influenced and Corrupt Organizations (RICO). The pattern of
\nracketeering activity is defined as commission of two or more of the listed
\ncrimes. A RICO enterprise can be any individual legal entity, or a group of
\nindividuals who are not a legal entity but are associated in fact, AND CAN
\nINCLUDE NONPROFIT ASSOCIATIONS.<\/o:p><\/span><\/p>\n

 <\/o:p><\/span><\/p>\n

 <\/o:p><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

Thanks to Sharon for this one.  The Crime Families strike again, this time the Walton\u00e2\u20ac\u2122s (Wal-Mart).  There is nothing they won\u00e2\u20ac\u2122t do (e.g. Tyson\u00e2\u20ac\u2122s, George\u00e2\u20ac\u2122s, O.K. Foods, Simmons, et al.) to make a buck and screw the taxpaying citizens\u00e2\u20ac\u00a6and they do it with the help of scofflaw government agencies.  It\u00e2\u20ac\u2122s a good and rare thing … Continue reading Arvest Bank (Wal-Mart) gives mortgages for illegals to buy homes–illegal by Fed. Laws<\/span> →<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[28],"tags":[],"class_list":["post-604","post","type-post","status-publish","format-standard","hentry","category-immigration-law"],"jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/arkansasfreedom.net\/index.php?rest_route=\/wp\/v2\/posts\/604","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/arkansasfreedom.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/arkansasfreedom.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/arkansasfreedom.net\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/arkansasfreedom.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=604"}],"version-history":[{"count":0,"href":"https:\/\/arkansasfreedom.net\/index.php?rest_route=\/wp\/v2\/posts\/604\/revisions"}],"wp:attachment":[{"href":"https:\/\/arkansasfreedom.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=604"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/arkansasfreedom.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=604"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/arkansasfreedom.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=604"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}