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cabehead1
109 Posts |
 Posted - 07/18/2008 : 10:36:12 AM
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They all have ITIN numbers with 10% down, 2 years VOR and VOEs 3 alt credit lines already in their credit report, 3 months of assets. If somebody can help in ANY possible way please let me know.
Thanks Guys |
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mganovsky
1679 Posts |
Posted - 07/18/2008 : 11:17:27 AM
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Please do not take this as a sarcastic response but they should go back to what ever country they came from. My feeling is that if they do not have a social security card, passport with Visa, work Permit or any other type of identification then they are illegals.
lets see they have a VOR, VOE (no paystubs) or W2's |
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JONGEO
229 Posts |
Posted - 07/18/2008 : 11:37:16 AM
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quote:
Originally posted by cabehead1
They all have ITIN numbers with 10% down, 2 years VOR and VOEs 3 alt credit lines already in their credit report, 3 months of assets. If somebody can help in ANY possible way please let me know.
Thanks Guys
IF THEY HAVE A 2 YEARS VOR AND VOE THEY SHOULD HAVE A
SOCIAL SECURITY CARD.. WHAT THE HE11?
IF NOT THREE FINGER VINNY (LOCATED AT THE STREET CORNER)
WILL BE HAPPY TO LEND $$$$$ |
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williamspeaking
4038 Posts |
Posted - 07/18/2008 : 11:38:16 AM
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| we lend to citizens only. |
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WorldWideWayne
1958 Posts |
Posted - 07/18/2008 : 11:44:06 AM
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| Did Banco Popular stop doing these? |
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WorldWideWayne
1958 Posts |
Posted - 07/18/2008 : 11:45:49 AM
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| Did you mean 10 files or 10 borrowers...10 borrowers could be for 2 files and 10 files could be for 50 borrowers?????!!!!!..... |
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liverichly
3658 Posts |
Posted - 07/18/2008 : 12:30:11 PM
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| Did you try FHA? |
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cabehead1
109 Posts |
Posted - 07/18/2008 : 12:30:15 PM
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| I am going to ignore comments that are not productive. Banco Popular is not lending in CA anymore due to declining market. |
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JONGEO
229 Posts |
Posted - 07/18/2008 : 12:38:30 PM
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quote:
Originally posted by cabehead1
I am going to ignore comments that are not productive. Banco Popular is not lending in CA anymore due to declining market.
OH SO YOU SEE NOTHING WRONG THAT THEY HAVE NO SOCIAL SECURITY NUMBERS
AND YET HAVE BEEN HERE 2 YEARS COME ON
BY THE WAY WHERE IS THE 10%THEY PUTTING DOWN , IN A BANK?? |
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downtime
227 Posts |
Posted - 07/18/2008 : 12:45:32 PM
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I have to agree. How do they have 2 years of VOR , yet no social security card?
If there are lenders still lending to foreign buyers, 10% down isnt going to cut the mustard. |
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mganovsky
1679 Posts |
Posted - 07/18/2008 : 1:47:54 PM
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| Foriegn Nationals are at 65% LTV |
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caadacjohn
576 Posts |
Posted - 07/18/2008 : 1:50:19 PM
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| he stated above that they have a credit report? |
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slants
4189 Posts |
Posted - 07/18/2008 : 2:37:26 PM
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quote:
Originally posted by WorldWideWayne
Did Banco Popular stop doing these?
Per their site:
Due to current pending legislation and licensing issues, we are currently not accepting applications from the following states and counties: AK, AL, AZ, CA, CT, DE, DC, FL, GA, HI, LA, MA, MI, MD, MS, MT, ND, NH, OH, OK, PA, NJ, NY, RI, SD, VT, WY, Orange & Jefferson counties in Texas. |
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slants
4189 Posts |
Posted - 07/18/2008 : 2:42:22 PM
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quote:
Originally posted by liverichly
Did you try FHA?
"Non-U.S. Citizens with no lawful residency in the U.S. are not eligible for FHA-insured mortgages." |
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clos25
403 Posts |
Posted - 07/18/2008 : 2:44:52 PM
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quote:
Originally posted by WorldWideWayne
Did you mean 10 files or 10 borrowers...10 borrowers could be for 2 files and 10 files could be for 50 borrowers?????!!!!!.....
If it is an ITIN loan, it's probably ten borrowers for one file...lol j/k |
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slants
4189 Posts |
Posted - 07/18/2008 : 2:44:57 PM
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quote:
Originally posted by downtime
I have to agree. How do they have 2 years of VOR , yet no social security card?
If there are lenders still lending to foreign buyers, 10% down isnt going to cut the mustard.
They won't even qualify for foreign national programs. Foreign nationals are those who live and work out of the country, not people who live and work here illegally. |
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slants
4189 Posts |
Posted - 07/18/2008 : 2:48:40 PM
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quote:
Originally posted by JONGEO
IF THEY HAVE A 2 YEARS VOR AND VOE THEY SHOULD HAVE A
SOCIAL SECURITY CARD.. WHAT THE HE11?
Without commemting on the right or wrong of it, people without SS #'s use ITIN #'s to report income taxes. |
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mortiz0126
205 Posts |
Posted - 07/18/2008 : 2:51:19 PM
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I have to say.....something does sound weird about this. Can you even open a bank account with out a social? VOR can be directly from the landlord so that's not a big deal but what other tradelines do they have? It is extremely difficult to get papers in this country (from what I have heard) so give them a break.
I don't think there is a bank that will be able to help you with that in this market. Sorry. |
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slants
4189 Posts |
Posted - 07/18/2008 : 2:54:25 PM
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| Cablehead1, as I posted in your other thread, there are no more wholesale lenders for ITIN loans. You would do them a favor by referring them to BofA or Citibank's retail ACORN program at low 6% rates, no MI and almost no down payment. Even when wholesale programs were available, they couldn't compete with ACORN and the right thing to do for these borrowers was to refer them to retail. |
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cabehead1
109 Posts |
Posted - 07/18/2008 : 3:04:27 PM
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| yes the 10% is in a bank, is that ok for you? |
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JONGEO
229 Posts |
Posted - 07/18/2008 : 3:55:31 PM
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quote:
Originally posted by slants
quote:
Originally posted by JONGEO
IF THEY HAVE A 2 YEARS VOR AND VOE THEY SHOULD HAVE A
SOCIAL SECURITY CARD.. WHAT THE HE11?
Without commemting on the right or wrong of it, people without SS #'s use ITIN #'s to report income taxes.
YES BUT AFTER 2 YEARS OF STEADY WORK IN THE US THE IRS MAKES YOU GET A SS#
ITIN# ARE OK FOR ONE YEAR USE ONLY. |
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JONGEO
229 Posts |
Posted - 07/18/2008 : 3:56:17 PM
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quote:
Originally posted by cabehead1
yes the 10% is in a bank, is that ok for you?
HOW WITHOUT A SS#
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slants
4189 Posts |
Posted - 07/18/2008 : 4:04:48 PM
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quote:
Originally posted by JONGEO
quote:
Originally posted by slants
quote:
Originally posted by JONGEO
IF THEY HAVE A 2 YEARS VOR AND VOE THEY SHOULD HAVE A
SOCIAL SECURITY CARD.. WHAT THE HE11?
Without commemting on the right or wrong of it, people without SS #'s use ITIN #'s to report income taxes.
YES BUT AFTER 2 YEARS OF STEADY WORK IN THE US THE IRS MAKES YOU GET A SS#
ITIN# ARE OK FOR ONE YEAR USE ONLY.
I disagree. I've looked it up on IRS site but don't have time to pull it up. The IRS cannot and will not "make you get a SS #". SS #'s are only issued to permanent resident aliens (people with green cards) and will not be given out to those who are here without authorization. The IRS wants their income taxes, so they issue ITIN's to enable them to report income. Anyone here illegally would not be so stupid as to try and apply for a SS # for which they will be denied and deported. |
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JONGEO
229 Posts |
Posted - 07/19/2008 : 08:42:13 AM
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quote:
Originally posted by slants
quote:
Originally posted by JONGEO
quote:
Originally posted by slants
quote:
Originally posted by JONGEO
IF THEY HAVE A 2 YEARS VOR AND VOE THEY SHOULD HAVE A
SOCIAL SECURITY CARD.. WHAT THE HE11?
Without commemting on the right or wrong of it, people without SS #'s use ITIN #'s to report income taxes.
YES BUT AFTER 2 YEARS OF STEADY WORK IN THE US THE IRS MAKES YOU GET A SS#
ITIN# ARE OK FOR ONE YEAR USE ONLY.
I disagree. I've looked it up on IRS site but don't have time to pull it up. The IRS cannot and will not "make you get a SS #". SS #'s are only issued to permanent resident aliens (people with green cards) and will not be given out to those who are here without authorization. The IRS wants their income taxes, so they issue ITIN's to enable them to report income. Anyone here illegally would not be so stupid as to try and apply for a SS # for which they will be denied and deported.
"Anyone here illegally would not be so stupid as to try and apply for a SS # for which they will be denied and deported."
OH HOW WRONG YOU ARE
SS# dept has no right to deport any one or report any one for deportion.a illegally can go to the police ,hospital, school,etc,without fear of being deported
check it out.
any one can get a ss#
people with out green card can get a ss# I have seen it first hand.
check again
the bottom line is that there is something not right with the deal
you have a voe for 2 years without a SS# what is it a letter from the job?
something is wrong
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arrakis
45 Posts |
Posted - 07/19/2008 : 09:12:22 AM
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quote:
Originally posted by slants
quote:
Originally posted by WorldWideWayne
Did Banco Popular stop doing these?
Per their site:
Due to current pending legislation and licensing issues, we are currently not accepting applications from the following states and counties: AK, AL, AZ, CA, CT, DE, DC, FL, GA, HI, LA, MA, MI, MD, MS, MT, ND, NH, OH, OK, PA, NJ, NY, RI, SD, VT, WY, Orange & Jefferson counties in Texas.
That and they are at 85% LTV now. If you got 1099 you're going to get whacked like you do with FHA and only the AGI on the tax returns on line 42 gets used. |
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slants
4189 Posts |
Posted - 07/19/2008 : 3:52:45 PM
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quote:
Originally posted by JONGEO
OH HOW WRONG YOU ARE
SS# dept has no right to deport any one or report any one for deportion.a illegally can go to the police ,hospital, school,etc,without fear of being deported
check it out.
any one can get a ss#
people with out green card can get a ss# I have seen it first hand.
check again
the bottom line is that there is something not right with the deal
you have a voe for 2 years without a SS# what is it a letter from the job?
something is wrong
Wow, shocking to me that anyone can be so misinformed about something so basic. You're the one who really needs to "check again". Illegal aliens cannot obtain legitimate social security numbers. Otherwise they would be documented residents. Border patrol doesn't give you a SS# then throw you back across the border. If someone is an illegal alien, he can't have a SS#, only an ITIN. In most states, they may not even obtain a driver's license. Most illegal aliens work under stolen or falsified SS#'s and as such, illegal immigrants stay clear of any government and regulatory agencies like the plague and according to this article never even attempt to collect the SS benefits they've paid into year after year: "But the fact is, those benefits are unlikely ever to go back to the people who paid in and the government is collecting a windfall." http://cbs4denver.com/goodquestion/Illegal.immigration.baca.2.560582.html
I read recently that in an effort to prevent illegals from benefiting from the Economic Stimulous rebate, many LEGAL immigrants including spouses of soldiers in Iraq were deprived because their immigration paperwork had not been finalized and they do not yet have SS#'s.
Here are the requirements to obtain a work authorized Social Security #:
Working Social Security Number
In order to obtain a work authorized social security number, the Applicant must be 1) A US citizen (US born or foreign-born), 2) authorized to work in the United States. The applicant must also be able to prove the following:
Ø Age, through documents including, but not limited to, a birth certificate, a religious record showing age or date of birth, a hospital records or birth, or a passport;
Ø Identity, through documents including, but not limited to, driver's license, identity card, school record, medical record, marriage records, passport, or Immigration and Naturalization Service document;
Ø US Citizenship or Work Authorized Lawful Immigrant Status.
In order to be authorized to work in the United States, an immigrant must be one of the following classes of immigrants:
Ø An immigrant who is a lawful permanent resident;
Ø An immigrant admitted to the United States as a lawful temporary resident;
Ø An immigrant admitted to the United States as a refugee;
Ø An immigrant paroled into the United States as a refugee for the period of time in that status;
Ø An immigrant granted asylum under section 208 of the Immigration and Nationality Act ("the Act");
Ø An immigrant admitted to the United States as a nonimmigrant fiancé or fiancée, or an immigrant admitted as the child of such immigrant;
Ø An immigrant admitted as a parent (N-8) or dependent child (N-9) of an immigrant granted permanent residence under section 101(a)(27)(I) of the Act;
Ø An immigrant admitted to the United States as a citizen of the Federated States of Micronesia (CFA/FSM) or of the Marshall Islands (CFA/MIS);
Ø An immigrant granted withholding of deportation;
Ø An immigrant who has been granted extended voluntary departure by the Attorney General as a member of a nationality group pursuant to a request by the Secretary of State;
Ø An immigrant granted Temporary Protected Status;
Ø An immigrant granted voluntary departure by the Attorney General under the Family Unity Program established by section 301 of the Immigration Act of 1990;
Ø Foreign government officials and their employees;
Ø A non immigrant student seeking on campus employment, part time off campus employment or curricular practical training;
Ø A representative of an international organization and their personal employees;
Ø An international cultural exchange visitor or an immigrant having a religions occupation;
Ø NATO armed services officers and personnel and their attendants, servants, and personal employees;
It is important for advocates to determine whether their clients fit into any of the above categories of work authorized immigrant status. If the client does not fit one of these categories, then he/she may be eligible to apply for a non-work SSN.
Non-Working Social Security Number
In order to obtain a non-work social security number the applicant must prove the following:
Ø Age, through documents including, but not limited to, a birth certificate, a religious record showing age or date of birth, a hospital records or birth, or a passport;
Ø Identity, through documents including, but not limited to, driver's license, identity card, school record, medical record, marriage records, passport, or Immigration and Naturalization Service document;
Ø A legal requirement for a social security number as a condition of the applicant receiving a federally funded benefit or service or if the state government requires a social security number to administer statutes governing the issuing of driver's licenses, the registration of motor vehicles, and the issuance of divorce decrees, child support orders, paternity actions. |
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slants
4189 Posts |
Posted - 07/19/2008 : 5:17:15 PM
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quote:
Originally posted by JONGEO
quote:
Originally posted by cabehead1
yes the 10% is in a bank, is that ok for you?
HOW WITHOUT A SS#
According to the Social Security Administration:
http://ssa-custhelp.ssa.gov/cgi-bin/ssa.cfg/php/enduser/std_adp.php?p_faqid=76
"..... You do not need a number to conduct business with a bank, register for school, apply for educational tests, obtain private health insurance, apply for school lunch programs or apply for subsidized housing. You cannot get a Social Security number for the sole purpose of obtaining a driver’s license." |
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DANKA
673 Posts |
Posted - 07/19/2008 : 8:12:02 PM
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| This makes me laugh, because apparently alot of people answering to this post has NEVER worked with immigrants before...Especially the person who wrote ANYONE could get a S.S. number...what a good laugh I had..ha ha ha |
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MALIZNA
437 Posts |
Posted - 07/19/2008 : 8:15:52 PM
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Also, I am in Chicago and there are 3 local banks that DO LEND on ITIN numbers. One is SECOND FEDERAL SAVINGS and the other is ALLIANCE BANK and the third is PARK NATIONAL BANK.... I am not sure if they lend in your area, but would be happy to give you the phone numbers...
I think at least 2 of the 3 offer it with 10 percent down.... |
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slants
4189 Posts |
Posted - 07/19/2008 : 8:52:44 PM
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quote:
Originally posted by MALIZNA
Also, I am in Chicago and there are 3 local banks that DO LEND on ITIN numbers. One is SECOND FEDERAL SAVINGS and the other is ALLIANCE BANK and the third is PARK NATIONAL BANK.... I am not sure if they lend in your area, but would be happy to give you the phone numbers...
I think at least 2 of the 3 offer it with 10 percent down....
Malizna, are these wholesale or retail? |
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slants
4189 Posts |
Posted - 07/19/2008 : 9:20:30 PM
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All 3 look to be ratail banks.
SECOND FEDERAL SAVINGS - Qualifying properties in the Greater Chicago Metropolitan Area only.
1st Alliance Banc Corp. is an independent mortgage banker - ILLINOIS RESIDENTIAL MORTGAGE LICENSEE, STATE OF WISCONSIN MORTGAGE BROKER, STATE OF VIRGINIA MORTGAGE BANKER.
Park National Bank actually does lend in CA, but appears to be retail only also. The retail Acorn program at BofA is probably still better (97% LTV I think, w/no MI). http://parknatl.mortgagewebcenter.com/Default.asp?bhcp=1
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kellamtom
609 Posts |
Posted - 07/20/2008 : 07:53:58 AM
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quote:
Originally posted by clos25
quote:
Originally posted by WorldWideWayne
Did you mean 10 files or 10 borrowers...10 borrowers could be for 2 files and 10 files could be for 50 borrowers?????!!!!!.....
If it is an ITIN loan, it's probably ten borrowers for one file...lol j/k
is this really 10 borrowers in 1 home, i hope that many of them are nooccupying coborrowers |
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slants
4189 Posts |
Posted - 07/20/2008 : 1:05:18 PM
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quote:
Originally posted by kellamtom
quote:
Originally posted by clos25
quote:
Originally posted by WorldWideWayne
Did you mean 10 files or 10 borrowers...10 borrowers could be for 2 files and 10 files could be for 50 borrowers?????!!!!!.....
If it is an ITIN loan, it's probably ten borrowers for one file...lol j/k
is this really 10 borrowers in 1 home, i hope that many of them are nooccupying coborrowers
It was just a joke, but only FHA will allow non-occupant co-borrowers to help income qualify (not 10 applicants on one property though). FHA won't lend to ITIN's, so non-occupant co-signers won't even work here. |
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DANKA
673 Posts |
Posted - 07/20/2008 : 8:14:42 PM
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| No that is the wrong Alliance bank, it is located in Niles, Illinois, but they have just changed their name to PNA Bank, they USED to do wholesale, I am not sure if they still are doing this.... |
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slants
4189 Posts |
Posted - 07/20/2008 : 8:30:56 PM
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quote:
Originally posted by DANKA
No that is the wrong Alliance bank, it is located in Niles, Illinois, but they have just changed their name to PNA Bank, they USED to do wholesale, I am not sure if they still are doing this....
Here it is, but looks like local retail only also http://pnabank.net/
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MALIZNA
437 Posts |
Posted - 07/20/2008 : 9:12:17 PM
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Yes but some retail lenders will allow you to add an origination point payable to you. I have seen this in a few cases of banks... Call and see if they will let you!!!!!
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george-1st
133 Posts |
Posted - 07/20/2008 : 11:58:09 PM
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quote:
Originally posted by cabehead1
They all have ITIN numbers with 10% down, 2 years VOR and VOEs 3 alt credit lines already in their credit report, 3 months of assets. If somebody can help in ANY possible way please let me know.
Thanks Guys
Give these guys a call. They specialize in ITIN. NOT all ITIN holders are illegal aliens.
CHL DIRECT Hispanic Market & ITIN
Citizens Home Loan
http://www.chldirect.com
http://citizenshomeloan.com
Al Wright [inside AE]
Phone: 704-688-6981
Fax: 678-212-4042
Email: awright@chldirect.com
George
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slants
4189 Posts |
Posted - 07/21/2008 : 7:57:40 PM
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quote:
Originally posted by george-1st
Give these guys a call. They specialize in ITIN. NOT all ITIN holders are illegal aliens.
CHL DIRECT Hispanic Market & ITIN
Citizens Home Loan
http://www.chldirect.com
http://citizenshomeloan.com
Al Wright [inside AE]
Phone: 704-688-6981
Fax: 678-212-4042
Email: awright@chldirect.com
George
His e-mail doesn't work and he does not return phone calls. Company operator goes into a voicemail box that is full and cannot take other calls. Voicemail left for someone else on their directory was not returned and e-mail through their website was not answered either. Does not look to be viable. |
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george-1st
133 Posts |
Posted - 07/21/2008 : 8:01:25 PM
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quote:
Originally posted by slants
quote:
Originally posted by george-1st
Give these guys a call. They specialize in ITIN. NOT all ITIN holders are illegal aliens.
CHL DIRECT Hispanic Market & ITIN
Citizens Home Loan
http://www.chldirect.com
http://citizenshomeloan.com
Al Wright [inside AE]
Phone: 704-688-6981
Fax: 678-212-4042
Email: awright@chldirect.com
George
His e-mail doesn't work and he does not return phone calls. Company operator goes into a voicemail box that is full and cannot take other calls. Voicemail left for someone else on their directory was not returned and e-mail through their website was not answered either. Does not look to be viable.
No crap!!!. I spoke with Al week before last about a client. I have a pre-approval that I am working on !!!! I'll find out in the am what is going on. If they have another number, or AE, I'll get it to you...If they're toast, it'll be a shame as they specialized in ITIN's George |
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javierf
123 Posts |
Posted - 07/21/2008 : 9:48:49 PM
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STEREOTYPING not helping! People just helping each other out. But seriously, don't think 10% is going to help them. About VOE, is employer paying them half cash & half check(personal or biz)?quote:
Originally posted by WorldWideWayne
Did you mean 10 files or 10 borrowers...10 borrowers could be for 2 files and 10 files could be for 50 borrowers?????!!!!!.....
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george-1st
133 Posts |
Posted - 07/22/2008 : 08:21:07 AM
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quote:
Originally posted by slants
quote:
Originally posted by george-1st
Give these guys a call. They specialize in ITIN. NOT all ITIN holders are illegal aliens.
CHL DIRECT Hispanic Market & ITIN
Citizens Home Loan
http://www.chldirect.com
http://citizenshomeloan.com
Al Wright [inside AE]
Phone: 704-688-6981
Fax: 678-212-4042
Email: awright@chldirect.com
George
His e-mail doesn't work and he does not return phone calls. Company operator goes into a voicemail box that is full and cannot take other calls. Voicemail left for someone else on their directory was not returned and e-mail through their website was not answered either. Does not look to be viable.
Slants, I just got off the phone with the receptionist at CHL-Direct. They closed the wholesale division Friday and terminated all the inside AE's. Shame, Al was on the ball. Good luck man. I you find a lender that does ITIN, please shoot me an email, or post it on the BO.
George |
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