LAT Money Center Introduces Nationwide Program That Offers Mortgage Financing to Undocumented Workers.LAS VEGAS Las Vegas (läs vā`gəs), city (1990 pop. 258,295), seat of Clark co., S Nev.; inc. 1911. It is the largest city in Nevada and the center of one of the fastest-growing urban areas in the United States. & ARLINGTON, Texas Arlington is a city in Tarrant County, Texas (USA) within the Dallas-Fort Worth-Arlington metropolitan area. According to a U.S Census Bureau release, as of July 1, 2006 Arlington has an estimated population of 367,197. -- LAT Money Centers, a Hispanic-owned financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. company, has introduced the industry's first nationwide financing program for undocumented workers that want to buy homes. This lending program will offer loans to potential homeowners using Individual Taxpayer Identification Numbers (ITIN ITIN Itinerary ITIN Individual Taxpayer Identification Number (US Internal Revenue Service) ITIN Information Technology in Nursing ITIN Integrated Triangular Irregular Network ) and Matricula Consular IDs in lieu of social security numbers. The company announced the new initiative at the 2006 Hispanic Marketing Convention & Expo hosted by the National Association of Hispanic Real Estate Professionals this week in Las Vegas. The program will be made available to 14,000 NAHREP NAHREP National Association of Hispanic Real Estate Professionals (Washington, DC) members in more than 48 states across the nation. "Recent industry research has shown that Hispanic homeowners are less likely to default on their home loan than other borrowing groups," said LAT Money Centers COO Samuel Angueira. "The Hispanic community takes pride in home ownership and that results in fewer missed payments, less defaults, and a higher return for investors." "NAHREP's 2004 study estimated that the market potential for these loans is conservatively $44 billion in new mortgages," said Timothy Sandos, NAHREP President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. . "A number of ITIN loan pilot programs have confirmed since then that these type of loans perform as well or better than conforming loans Conforming loans Mortgage loans that meet the qualifications of Freddie Mac or Fannie Mae, which are bought from lenders and issued as pass-through securities. . We applaud LAT Money Centers for being the first lender to make this kind of program available nationwide." LAT Money Centers is a Hispanic owned Financial Services Company that provides a variety of financial services and education to the Hispanic and Latino communities. The company is a subsidiary of Latino Bancshares, Inc., a Nevada Corporation based in Arlington, TX. Latino Bancshares, Inc. and its subsidiaries are active in Mortgage and Investment Banking, Insurance, and Real Estate. If you would like more information concerning the Lat Family of Companies or its ITIN Lending product, please contact Hector Arroyo at the numbers listed below. |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion