Bank Offers American Dream to Illegal Immigrants

SanDiegoChannel.com, Jan. 23, 2005

It’s the American dream—buying a home for your family. And now you don’t have to be in the country legally to own one.

Wells Fargo is first major California lender to offer home loans to illegal immigrants, 10News reported.

“We’re not required to ask the immigration status of any of our customers. That is the responsibility of the federal government,” Wells Fargo bank representative Jerry Ruiz said.

The program is called “Celebrate Home” and Wells Fargo says it complies with all federal regulations, 10News reported.

Applicants do need a tax identification number issued by the Internal Revenue Service for people who do not have Social Security numbers.

Ruiz said the program is targeted to Wells Fargo customers who have been an account holder for at least six months and who can show proof of residency for two years in the United States—along with proof that they have filed and reported income taxes using an individual taxpayer identification number.

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