This Texas Bill, Written By Lawyer For Colony Ridge, Could Sprout More Illegal Immigrant Hotbeds

Colony Ridge’s defense lawyer and a land developer lobbying group teamed up to draft legislation that would exempt Texas developments like Colony Ridge from certain consumer protection regulations, communications obtained exclusively by The Daily Wire reveal.

A House bill and its companion bill in the Senate would carve out an exemption in mortgage origination laws for Texas residential real estate developers, threatening to embolden developments like Colony Ridge that cater to illegal aliens and foreign nationals. The legislation has already passed through the House Committee on Pensions, Investments, and Financial Services but is still under consideration in the Senate’s Business and Commerce Committee.

Colony Ridge and the Texas Land Developers Association (TLDA) members that employ similar strategies are currently required to inform consumers that they can contact the Department of Savings and Mortgage Lending in the event that they have complaints.

But under the new legislation, the developments would not be under the purview of the Department of Savings and Mortgage Lending, and the legal risk would be offloaded to loan originators instead. That means there would be even less oversight of developers who have built businesses by catering to illegal aliens and selling land to foreign buyers who haven’t been qualified as borrowers — often charging sky-high interest rates and reselling land after borrowers default.

The bill would strip the Texas Department of Savings and Mortgage Lending’s authority to regulate residential real estate developers who provide mortgage loans to purchasers of property, and would limit oversight to separately licensed residential mortgage loan originators and companies.

This legislation, according to documents obtained by The Daily Wire, came about through a partnership between Colony Ridge’s defense lawyer and the Texas Land Developers Association, a lobbying organization whose former president defended the infamous development’s strategy of selling American land to illegal aliens en masse.

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