A Connecticut-based mortgage company is under scrutiny for providing home loans to illegal immigrants without requiring Social Security numbers or green cards. Prysma Lending Group openly markets its services to undocumented individuals, facilitating over $1 billion in loans across multiple states.
Prysma’s website states, “No Social Security or Green Card required,” and encourages undocumented immigrants to pursue homeownership. The company utilizes Individual Taxpayer Identification Numbers (ITINs), which are issued by the IRS for tax purposes, to process these loans. While ITINs are intended for tax reporting, they are being used here to bypass traditional identification requirements.
In a webinar following President Trump’s inauguration, Prysma addressed concerns about deportation risks for their clients. The company provided guidance on avoiding identification methods that could lead to deportation, such as using foreign passports, and discussed strategies like initiating “credible fear” interviews to delay removal proceedings.
Critics argue that this practice incentivizes illegal immigration and undermines federal efforts to enforce immigration laws. Ira Mehlman of the Federation for American Immigration Reform stated that access to mortgages can encourage illegal aliens to remain in the country, counteracting government objectives to reduce illegal residency.
President Trump has pledged to ban mortgages for illegal aliens and took action in March to prevent government-backed loans from being issued to them. However, companies like Prysma, which operate outside of federal programs, continue to offer these services, raising concerns about the effectiveness of current enforcement measures.
