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Mr. Thompson, left, said that an analysis of spending on nonpublic schools in Regions 6 and 7 during the 2004 and 2005 fiscal years found more than $400,000 in questionable bank transactions, including a cash withdrawal to repay an undocumented loan to the owner of a school building.
And the refrain from the mortgage broker or loan officer relative to the Dr. Evil request from underwriting is always the same: "just do what they want!" To say that the pendulum has swung in the other direction away from undocumented loan applications doesn't quite capture the change in mindset that pervades the lending industry these days and for the foreseeable future.
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Translation: undocumented loans carried the same interest rate as a fully documented version.
Mr. Ludin said that 207 borrowers took out undocumented loans, including many members of Parliament and government ministers.
The commission, appointed by President Karzai to assess responsibility for the wide-ranging fraud scheme, said last month that 207 borrowers, including members of the president's cabinet and Parliament, had taken out undocumented loans.
In a modest way, Mr. Beachy helped the local economy, making undocumented loans on a handshake to the owners of a bakery and a popular noodle company, who paid him back when they could.
McDonnell and his sons went on golf outings paid for by Williams, and the business executive gave the governor undocumented "loans" that came to $120,000 to pay his debts.
"There are some financial institutions that seem to be developing ways to make home loans to undocumented immigrants, but that's a new phenomenon".
Even private student loans typically reject undocumented students unless they have a legal resident co-sign on the loans, according to the advocacy group Educators for Fair Consideration.
Siroya launched Tala in March 2014 to create a mechanism for providing credit scores to financial institutions so that these undocumented women could get the loans they needed to become financially independent and entrepreneurial, she says.
Like when he graduated high school in Charlotte, North Carolina, in 2012 and got into all five colleges he applied for, but didn't qualify for in-state tuition or federal loans because of his undocumented status.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com