Undocumented and out of market

Undocumented Latino immigrants would add an estimated $44 billion in new mortgages if barriers such as identification, legalization, traditional credit requirements and language were no longer issues, according to a study released Tuesday by the National Assn. of Hispanic Real Estate Professionals.

If these barriers were lifted, the report said, nearly a quarter million of the estimated 1.5 million undocumented immigrant households in the U.S. could become homeowners.

“Undocumented Latinos are an invisible element in our economy today. Until now, no one has attempted to quantify the positive impact these consumers can have on our nation,” said Gary Acosta, chairman and co-founder of the nonprofit trade group. The group commissioned the study because how best to serve this population presents a dilemma to professionals in the real estate, housing and lending industries.