New Mortgage Product For IllegalAliens

August 12, 2005, 1:00 a.m. EDT 1 Min Read

DALLAS - (08/12/05) -- CU Members Mortgage, a division ofColonial Savings is set to launch a program that will allowundocumented workers to buy a home. Because the individuals thatthis loan product is targeting do not have social security numbers,CU Members Mortgage will utilize alternative means of verifyingcredit and payment patterns, such as rent history and utilitybills. The company plans to unveil a pilot program through its 20credit unions in the Dallas/Fort Worth area Oct. 1.

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