Berkeley Leader

A technical trainer based in Moncks Corner said he supports President-Elect Donald Trump's (R) proposed ban on mortgage loans for illegal aliens, and opposes a SC-based credit union's provision of mortgages to illegal aliens.

“Home ownership is a big part of the American dream, a dream that is becoming more and more out of reach for American citizens who have worked their whole lives trying to attain it,” Jay King, who helps train people how to repair security equipement, told Berkeley Leader. “Giving mortgages to people who shouldn’t even be here is not only a slap in the face to these Americans on principle, but it also puts a strain on the housing availability which makes it even more difficult for Americans trying to get started with home ownership from being successful.”

“I oppose Self Help Credit Union being allowed to provide mortgages to illegals for several reasons,” said King. “The first is that South Carolina has had an influx of people move here; not only American citizens fleeing liberal states for more freedom, but also illegal aliens who are moving here and chancing it with ICE because the cost of living is less than in liberal states.”

“Another reason is we have a shortage of housing here in SC, especially in the Charleston area,” said King. 

His comments are in response to a Palmetto State News report about Trump's proposal to disallow mortgage loans to illegal aliens and the impact of that proposal on Self-Help Credit Union, which operates five credit unions in South Carolina. 

During a Sept. 5 speech to the Economic Club of New York, Trump said that we would put an end to the practice of lenders offering mortgages to illegal aliens. 

“We cannot ignore the impact that the flood of 21 million illegal aliens has had on driving up housing costs,” Trump said in the speech.  

A recent Winthrop Poll shows that South Carolinians view illegal immigration as a serious issue, with an average rating of 7.7 out of 10, reflecting significant concern across political lines.

Trump argued such programs prioritize illegal aliens over American veterans and legal residents. 

Self-Help Credit Union, which has received over $502 million in federal grants for its operations, has marketed federally-backed mortgage loans to illegal aliens. 

Self-Help Credit Union was very active in South Carolina’s 2024 legislative session which spanned from January to May.

During the 2024 legislative session, Self-Help Credit Union and its advocacy arm, the Center for Responsible Lending (CRL), sought to restrict how installment lenders market their services with Senate Bill 910. The bill did not pass in the 2024 legislative session. 

S-910 would have regulated and potentially restricted small dollar loans in South Carolina by imposing restrictions on how lenders market services to households and which households can be targeted.

Industry representatives have raised concerns about how the bill depicts their practices and emphasized its unintended effects, including the risk of potential redlining, due to its stringent restrictions on the neighborhoods where lenders can advertise. 

Opponents to that legislative effort argued it could limit credit options and stifle competition in the lending sector for South Carolinians.

“I'll just say we ought to be very careful with the ways in which the government interferes in the private sector,” State Sen. Wes Climer (R-York) said during a committee hearing on the bill. “And one of the things that historically has yielded the greatest results for consumers.”

According to the IRS, that effort was funded in part by more than $2 million provided to the CRL traced back to left-wing activist George Soros. 

The Sandler Foundation, founded by Herbert and Marion Sandler, also donated over $25 million to the CRL from 2016 to 2022, supporting efforts to restrict small dollar loans in South Carolina. The Sandlers, known for their controversial role in the 2008 financial crisis as subprime mortgage pioneers, funded the creation of CRL through their foundation. 

Kerri Smith, the South Carolina President of Self-Help Credit Union and a leading advocate for the bill, was targeted by critics who suggested her lobbying efforts were motivated by special interests and would harm consumers.

Connections to Soros and the Sandlers came back to bite Smith who faced criticism for pushing the legislation with help from organizations linked to leftist causes. She lost in the primary to Chris Huff, who went on to win the State House seat. 

During the race, Huff expressed concerns about rival candidate Smith's ties to left-wing political activists.

“I think it's concerning for anybody to be running as a Republican and have ties to George Soros of any kind,” Huff told the Greenville Leader during the campaign. “I mean, we know he is the number one financier and supporter of all things Democrat.”