I believe you are referring to Banco Popular, which has advertised on
Univision. I've gathered several references for you.
"Some lenders... have even begun marketing specifically to
undocumented residents, provided that they can show proof of identity
with a federal Income Tax Identification Number, two years of stable
employment and good credit.
'I wouldn't say it's a big enough niche to constitute a trend,' said
Mary Mancera, of the National Association of Hispanic Real Estate
Professionals, '"but it is happening.'
She cited several recent programs in the mortgage market that are
openly appealing to undocumented and documented immigrants. (Although
some anti-immigration conservatives have pledged to change the laws,
there are no federal or state restrictions on lending money to
undocumented immigrants.)
Banco Popular North America in New York has offered home loans based
on an ITIN, and New South Federal Savings Bank in Alabama has a
similar program. The Mortgage Guarantee Insurance Corporation recently
completed a test program of 1,200 to 1,500 of these loans."
SFGate: A Strange Tale With A Twist
http://www.sfgate.com/cgi-bin/article.cgi?file=/gate/archive/2005/10/28/carollloyd.DTL
"Banco Popular began as the bank of the poor in Puerto Rico in 1893...
Today the bank has 11,000 employees and $39.6 billion in assets. With
U.S. assets of $15.4 billion, it's the 49th-largest bank here. Its
branches are mainly in or around New York City and in California,
Texas, Illinois and Florida...
...What it lacks in scale, Popular tries to make up in
intangibles--mostly, its Hispanic brand identity. At Popular branches
in Hispanic neighborhoods, most employees speak Spanish and live
nearby. On Spanish-language network Univision, Popular sponsored a
15-minute segment on a variety show, Sábado Gigante, on Saturdays."
Puerto Rico Herald: Show Me The Dinero
http://www.puertorico-herald.org/issues/2004/vol8n50/LiveEd/ShowMeDinero.shtml
"An excerpt from Lou Dobbs show (CNN) on March 21, 2005...
The Federal Deposit Insurance Corporation is encouraging banks to sign
up illegal aliens in the banking system, calling the growth of the
market 'a compelling incentive for U.S. banks to enter this largely
untapped market.' And the FDIC program demonstrates that unbanked
Latin American immigrants can be brought into the financial
mainstream."
News with Views: SHOULD OFFICIALS OF THE FDIC BE PROSECUTED?
http://www.newswithviews.com/Devvy/kidd99.htm
My Google search strategy:
Google Web Search: "banco popular" "without a social security number"
://www.google.com/search?hl=en&q=%22banco+popular%22+%22without+a+social+security+number%22
I hope this is precisely what you need to know. If anything is unclear
or incomplete, please request clarification; I'll be glad to offer
further assistance before you rate my answer.
Best regards,
pinkfreud |
