A far-left organization partnered with financial institutions, activist groups, and the Mexican consulate to push banks to offer mortgage loans to illegal aliens and “protect undocumented immigrants.”
Rise Economy, a leftist organization formerly called the California Reinvestment Coalition, was behind a report advocating for mortgage loans to be made available to illegal aliens who obtain an Individual Taxpayer Identification Number (ITIN), a financial tool that often enables illegals to obtain home and auto loans.
The report indicates that the marketing and distribution of loans to illegal aliens, which The Daily Wire has documented extensively, may in part be the result of leftwing ideology and activism rather than simply a response to market incentives.
The group thanked a wide range of supporting organizations, which it said “were essential in framing the research and tailoring the recommendations outlined in this report.” Among those dubbed “community partners” are the Consulate General of Mexico in San Francisco and La Raza Centro Legal, a San Francisco-based ethnic advocacy organization that offers deportation defense.
The La Raza Community Resource Center, which also offers deportation defense assistance to illegal aliens, was listed as a partner of the organization. Also listed is the Beneficial State Foundation, the project of a bank run by a Democrat billionaire that The Daily Wire previously reported offers auto loans targeted to illegal aliens.
Rise Economy’s report specifically encouraged the distribution of home loans to illegal aliens, urging policymakers and community partners to “work collectively on solutions-driven policies to increase access to mortgage loans for immigrant families including ITIN holders.”
Rise Economy’s goal, the 2019 report noted, was to “push for safe banking and equitable access to small business lending, mortgages, accessible retirement systems, and public benefits for ITIN holders.” The report focused on mortgage loans again, with one section reading “policymakers and community partners should work collectively on solutions-driven policies to increase access to mortgage loans for undocumented families including ITIN holders,” one line reads.
“The Here to Stay campaign coalition recommends that financial institutions provide access to safe banking and lending to immigrant families including ITIN holders,” the report said. “Community-driven solutions must also be proposed to protect undocumented immigrants who rely on public benefits.”
Not all of the partners cited in the report appear to be ideologically motivated, however. Rise Economy added that “this report was made possible with financial support from” various financial institutions, including JP Morgan, Capital One, U.S. Bank, and the Banc of California. None of the banks responded to a request for comment.
The Daily Wire has exposed various companies that market loans to illegal aliens, including Prysma Lending, which held a webinar with an immigration lawyer and created a guide to deportation defense for its customers. There’s also Amres, which articulated its goal to “empower non-citizens,” created a guide called “Bridging the Gap for Undocumented Residents,” and told the stories of various illegal aliens who were able to obtain mortgage loans.
The former leader of a Texas land developer lobbying organization appeared to confirm that developments like Colony Ridge would go out of business if they were forced to check if buyers had social security numbers.
EXCLUSIVE: A Texas land developer admitted that the Colony Ridge business model relies on selling land to unqualified foreign buyers:
“We will not be able to sell our developments if each of our buyers have to have SS#’s.”
I obtained his stunning admissions🧵 pic.twitter.com/f2nWFuWA5r
— Spencer Lindquist 🇺🇸 (@SpencerLndqst) February 13, 2025
One company belonging to the lobbying organization, called Cayetano, encouraged buyers to “own a piece of American land” just north of the border with Mexico. It also accepted identification from the Mexican government in processing land sales, The Daily Wire revealed.
These loans, experts say, can encourage illegal aliens to stay in the country in violation of federal law. Federation for American Immigration Reform Media Director Ira Mehlman previously discussed the risks associated with allowing the practice with The Daily Wire
“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 noted. “Congress could take many actions — from disclosure to outright prohibition — and set a national standard for states to follow.”
Lending arrangements that rely on ITINs could soon become riskier. Not only is the government cracking down on illegal immigration and pursuing a policy of mass deportation, but the Department of Homeland Security and the IRS signed an agreement allowing the law enforcement agency to obtain information on illegal aliens from the IRS.
Rise Economy did not respond to a request for comment.
