https://www.dailywire.com/news...er-of-american-homes

The Prysma Lending Group gives mortgages to illegals, 'No Social Security or Green Card required.'

After decades of mass illegal immigration into the United States, untold millions of illegal aliens have settled throughout the country, competing with Americans for government benefits, jobs, and now, for homes.

For most illegal aliens, obtaining a mortgage from a traditional bank — without a social security number or a credit score — is nearly impossible. But as millions of illegal aliens flooded the country, a new industry has cropped up to capitalize on the new customer base, selling financing catered to the illegal population.

One entity at the forefront of this industry, a Daily Wire investigation has revealed, is Prysma Lending, which has given out more than a billion dollars in loans in red and blue states alike as it blatantly targets illegal aliens.

Trump pledged to ban mortgages for illegal aliens on the campaign trail and his administration took action in March to prevent government-backed mortgages from going to illegal aliens. But Prysma is one of several companies — including Colony Ridge, the Texas development that The Daily Wire exposed as a magnet for illegal aliens — that uses a different financial tactic that isn’t impacted by the administration’s recent rule change, which specifically targeted loans backed by the Federal Housing Administration.

The company prides itself on “empowering the Latino community to achieve homeownership” in its Spanish-language Instagram bio. The company’s president, Monica Serva, says she started Prysma with the intent of “helping the Latino community” because she “realized how unfairly minorities were treated.”

But Prysma revealed that its business model relied on illegal aliens, in particular, when it hosted a webinar with an immigration lawyer to answer their customers’ questions about the risk of deportation in the days following President Donald Trump’s inauguration.

The company is evidently concerned that its clientele could be deported, or at least that potential customers could be dissuaded from buying a home in a country that they fear they could be removed from.

They have reason to be worried. The Connecticut-based company’s website is checkered with explicit appeals to illegal aliens, allowing it to corner a market that doesn’t have access to the same financial tools as American citizens and legal residents.

“Prysma has helped non-US citizen families in: Connecticut, Florida, Massachusetts, New Jersey, New York, Pennsylvania, and Texas,” the corporation’s site reads. “No Social Security or Green Card required.”

“You have a right to homeownership, regardless of legal status,” Prysma says. The company even published guides on “loans for undocumented immigrants” and boasts that it has “extensive experience with loans tailored to the unique needs of undocumented immigrants.”

“Securing personal loans can be a crucial step toward financial independence for undocumented immigrants, who often face challenges accessing traditional financial products,” Prysma writes.

Federation for American Immigration Reform Media Director Ira Mehlman told The Daily Wire that allowing illegal aliens to access mortgages could incentivize them to remain in the country, but that Congress could take action.

“Access to mortgages can serve as an incentive for illegal aliens to remain in the country, especially at a time when the goal of the government is convincing illegal aliens to leave,” Mehlman explained. Congress could take many actions – from disclosure to outright prohibition – and set a national standard for states to follow.”

A Prysma employee admitted in the post-election webinar that the company specializes in offering loans to illegal aliens.

“At Prysma, again we’re super honored that Latinos come to us … well, people from all different parts of the world, looking for loans that don’t require a legal status,” Senior Mortgage Loan Originator Stefany Pina said.

The corporation made a guide to go along with the talk, providing “actionable steps to safeguard the things that matter to you most should you or a family member be at risk of deportation.” The document tells customers how to trigger a “credible fear” interview to avoid deportation, adding that “the interview process can slow deportation proceedings, giving you time to build a legal defense.”





Prysma also instructs illegal aliens to avoid presenting “IDs that could flag you for deportation,” including foreign passports.

Prysma’s business model appears to rely on the individual taxpayer identification number (ITIN), a tax processing number from the IRS that can be obtained by anyone regardless of their immigration status. The National Immigration Law Center, a left-wing Soros-backed organization, calls ITINs “a powerful tool for immigrant taxpayers.” Illegal aliens can use ITINs to receive home and personal loans, often at rates significantly higher than those offered by traditional banks.

Obtaining an ITIN, Prysma is eager to point out, does not require a legal status. “Your ITIN allows you to take out a Tax ID loan … without showing legal residency in the U.S.” The company says, also adding “no social security card needed” and “no green card needed.”



The IRS created ITINs so nonresidents could pay taxes. They were not intended to be used by illegal aliens to obtain mortgages or other loans.

This ITIN financial scheme is the same system that fueled the astronomical growth of Colony Ridge, the Texas development that The Daily Wire exposed as a magnet for illegal aliens. The site, which has attracted illegal alien murderers, drug-runners, human smugglers, and cartel members, similarly told buyers that they didn’t need social security numbers and instead doled out ITIN loans to illegal aliens.

Leaked emails from a Texas land developer uncovered by The Daily Wire indicate that there appears to be an entire industry built around supplying loans to illegal aliens. The developer, who formerly led a lobbying organization, wrote that “we will not be able to sell our developments if each of our buyers have to have [social security numbers].”

Prysma did not respond to a request for comment.

Pretty good business model. Jose buys a house with a loan. Jose gets deported. Mortgage company sells again. Repeat as necessary.

quote:

Originally posted by Johnny 3eagles:
Pretty good business model. Jose buys a house with a loan. Jose gets deported. Mortgage company sells again. Repeat as necessary.

That's the first thought that came to my head.

"You have a right to home ownership regardless of legal status." The company needs to be prosecuted.

quote:

Pretty good business model. Jose buys a house with a loan. Jose gets deported. Mortgage company sells again. Repeat as necessary.

Not too different from how buy-here-pay-here used car dealers work.

If any of us were applying for a mortgage there, we'd have to show them ID, income and credit qualifications.

quote:

Originally posted by Rey HRH:

quote:

Originally posted by Johnny 3eagles:
Pretty good business model. Jose buys a house with a loan. Jose gets deported. Mortgage company sells again. Repeat as necessary.

That's the first thought that came to my head.

"You have a right to home ownership regardless of legal status." The company needs to be prosecuted.

You don't have the right to lie on a mortgage application. Ask Leticia James about that one. And every one of them asks about your citizenship, SS# or TIN. Maybe that company has their own investors and totally bypasses FHA, Fannie and Freddie guidelines. But I doubt it. And those laws have some teeth if someone cares to enforce them.

I doubt they are using any federal assistance, especially since Trump stopped that, what congress needs to do is pass a law that ITIN cannot be used for financial filings anywhere other than reporting taxes paid.

Prysma is like any other minority formed organization, taking advantage of people for financial gain, and reselling property that's been foreclosed on to other illegals.

Perhaps ICE could investigate them and charge the CEO for providing information on how to avoid ICE deportation processes...

Here in Central Florida there are tons of English people who own vacation, rental and air B&B type properties. They don't have, nor need legal status. They only use the property when there are here as tourists.

They use the ITIN system to have a mortgage and a bank account associated with the house.

I don't see anything wrong with undocumented foreigners owning homes in the US provided that the undocumented foreigner is not in this country illegally. If there are hear legally, even if only on vacation, there should be no controversy with them owing property.

I recognize that this does not solve the problem of the Chinese buying land near military bases, but that is an entirely different problem.

Why is it any different than a foriegnor buying a vacation home with a mortgage that primarily lives in another country??? There are lots of foriegners that meet that criteria that only live here a few months a year.

quote:

Originally posted by Johnny 3eagles:
Pretty good business model. Jose buys a house with a loan. Jose gets deported. Mortgage company sells again. Repeat as necessary.

Agreed, my gut tells me these guys operate like one of those "Buy here, pay here... your job is your credit" used car places. It's not about the cars/houses, it's about the financing and fees.

Yes higher risk and some drama/work, but significantly higher profit

Used semi truck dealers do this same tactic.
Find someone who just got a CDL license then sell them a well used tractor with a huge payment.
Take a big deposit, let the new buyer default on payments,take the truck back and sell again.
Over and over.

quote:

Originally posted by jimmy123x:
Why is it any different than a foriegnor buying a vacation home with a mortgage that primarily lives in another country??? There are lots of foriegners that meet that criteria that only live here a few months a year.

Because illegals are fucking criminals.

Predatory lending. It got started when Barney Frank and his ilk passed the "Screw the banks lending theory, we'll make them lend to everyone so they gain and lose a home (Affordable Home Act).
Through Fannie and Freddie the gov screwed us.

This is just the .gov allowing more fraud.

So…. Ahem…. Dons flame suit.

Fellows, many/most illegals are not bad people.

If you were there, in their shoes, you’d try to get the hell out too.

A large percentage are Christians, fleeing Atheist Socialist persecution.

A large number of them don’t like open borders, because they see the same animals they were fleeing, followed them here. (It’s why the scum of Ireland and Africa and Asia came to the U.S. - their prey ran away, so they followed it.)

Many of the animal class, are welcomed as “wealthy” investors. (Anyone “wealthy” coming from VZ/Cuba/Haiti/DR/Africa etc needs to be gone over, heavily - but they aren’t, TMK. Miami is full of rich, foreign villains, here on investor visas.)

Now, with that said, yes, I suspect this bank is a bunch of scum. I know of other lenders who are definitely scum.

I think it would be interesting to see how many of their customers manage to pay off the note vs getting reported to ICE as they get close to paying it off.

quote:

Originally posted by Mars_Attacks:

quote:

Originally posted by jimmy123x:
Why is it any different than a foriegnor buying a vacation home with a mortgage that primarily lives in another country??? There are lots of foriegners that meet that criteria that only live here a few months a year.

Because illegals are fucking criminals.

I get it, BUT a lot of illegals come here legally on a visa first, then overstay and THEN become illegal.

You can't tell mortgage companies that they cannot give mortgages to foreigners. Is it up to the mortgage companies to determine the immigration status of the candidates that are applying? Where do you draw the line without interfering into businesses and over regulating.

quote:

Originally posted by Aglifter:
If you were there, in their shoes, you’d try to get the hell out too.

There's enough of them to take up arms and take back their country to make it into what they want.

Except they are cowards because they can come here for a free lunch.

It takes sacrifice, something they aren't willing to do unless there is nowhere else to go.

Send them ALL back with an M16 nd a mag of ammo. 40,000,000 x 30 is more than enough rounds to do it.

quote:

Originally posted by jimmy123x:


You can't tell mortgage companies that they cannot give mortgages to foreigners. Is it up to the mortgage companies to determine the immigration status of the candidates that are applying? Where do you draw the line without interfering into businesses and over regulating.

If those mortgage companies get a dime of federal funding from the VA, FHA, Fannie or Freddie, oh yes, the gov't very much can dictate just about everything. Then you have the state-subsidized programs (though they're usually related to FHA). Just about all of them have an out for any kind of fraud, absolutely anything that's not 100% honest.

I used to work in the subprime wholesale biz. Even the loans that were stated income, no income, no assets, aka "liar loans" used the 1003 Uniform Residential Loan Application. That's a HUD form and, even if no federal money is involved, I'm pretty sure that form gives the feds wide berth over the matter, if they wanted it. As an investor, I would not touch that stuff with a 10' pole.

I've done loan apps wealthy Asians who had walking around cash to buy stuff for cash, but whose apps got denied for some minor BS like a perc test or title issues. Having an 800+ FICO with millions in the bank didn't matter. Loans were denied.

quote:

Originally posted by jimmy123x:

quote:

Originally posted by Mars_Attacks:

quote:

Originally posted by jimmy123x:
Why is it any different than a foriegnor buying a vacation home with a mortgage that primarily lives in another country??? There are lots of foriegners that meet that criteria that only live here a few months a year.

Because illegals are fucking criminals.

I get it, BUT a lot of illegals come here legally on a visa first, then overstay and THEN become illegal.

You can't tell mortgage companies that they cannot give mortgages to foreigners. Is it up to the mortgage companies to determine the immigration status of the candidates that are applying? Where do you draw the line without interfering into businesses and over regulating.

It's actually quite simple. As part of the mortgage process it is asked if it's a primary residence, income property, or vacation home. Don't issue primary residence mortgages to anyone who doesn't have permanent legal status. How is that in any way a burden on business? They verify your income which is way harder than asking for a green card.

quote:

Originally posted by Mars_Attacks:

quote:

Originally posted by Aglifter:
If you were there, in their shoes, you’d try to get the hell out too.

There's enough of them to take up arms and take back their country to make it into what they want.

Except they are cowards because they can come here for a free lunch.

I can’t say the ones I know are cowards.

The Knights of Columbus, TMK, started in part to help the Christians in Mexico fight - FDR worked pretty hard to stamp out any coverage of the Christero Wars, and I’m not sure how a normal person is supposed to be armed in much of the world.

The U.S. started blocking arms going South… under W think? Not sure. I know when I was a boy, a 38 revolver or 38 super was not a big deal.

Rifles were, don’t think I knew any Mexicans who had shotguns. The wealthier locals all seemed to have some kind of 38, and maybe a 22 rifle.

Obviously the peons had nothing.