Thread by @usacsmret

Trump Ends Obama's Taxpayer-Funded Mortgages for Illegal aliens
shar.es/amkPQH

When Barack Obama implemented his unilateral amnesty for illegal aliens who claimed to have entered this country before the age of sixteen, the illegally amnestied illegals qualified for many benefits.

One of these were FHA loans.

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.

Department of Housing and Urban Development (HUD) has begun notifying lenders that the FHA was no longer in the illegal alien mortgage business. The reasons were common sense. DACA illegal aliens, or in media spin, DREAMERs, were not legal residents and weren’t being legalized.

Under Obama, FHA rules had been bent so far backward that people who were not only non-citizens, not only non-permanent residents, but weren’t even legally here, were having taxpayers guarantee their mortgages.

Not only hadn’t the Democrats learned anything from the Great Recession, they were determined to make the irresponsible behavior of the FHA a decade ago seem sober and sensible.
And they aren’t giving up.

A December letter by Senator Menendez, who had recently been on trial for corruption charges, Senator Booker, on whose watch the $100 million poured into Newark public schools dissipated, and Senator Cortez-Mastro, who had been accused of taking dirty money, claimed to be.....,

“appalled that the Trump Administration would exploit a federal government program to deny Dreamers an opportunity of owning their own home.”

But it was the Democrats who had exploited a federal government program meant for poor Americans to benefit not only foreigners, but illegal aliens with no right to be here.

The letter by the three Senator Democrats falsely claimed that President Trump was targeting a “portion of the American public”, when in fact illegal aliens are not part of the American public.

They demanded, “sound and unambiguous legal reasoning” for the move. The sound and unambiguous reasoning would be that illegal aliens are not legally resident in the United States and therefore do not qualify for loans.

The illegal alien mortgage business, built on the backs of American taxpayers, is obviously profitable. But it’s also a silent nuclear weapon threatening mass destruction of the economy in case of deportations.

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.

That’s why HUD’s stopping the flow of FHA loans to illegal aliens is so vital. Not only did those loans endanger our economic security, they also endangered our national security. Their very existence serves as political leverage to prevent the government from enforcing the law.

Every illegal alien mortgage not only robs American taxpayers, but puts them at risk of even worse losses.
And considering the role of mortgage backed securities in the Great Recession, the threat is real.

American taxpayers have long been exploited by the FHA as a piggy bank to pay off Democrat voters. But DACA FHA loans have taken this a step further by taking the economy hostage for illegal aliens.

T

The FHA loan was created to serve Americans. If it is to continue to exist, it should only serve Americans.