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Mortgage loan makes reservation history

 

August 16, 2019

Jana Peterson

Fond du Lac band member and Vietnam/Cambodia veteran David Danielson signs some of the preliminary paperwork for a home mortgage loan on tribal trust land with Veterans Administration loan officer David Hein at the Fond du Lac Tribal Center last week. The loan is the first of its kind for the Fond du Lac Band of Lake Superior Chippewa.

Without much fanfare, David Danielson and David Hein made history last Wednesday.

Danielson, a Fond du Lac band member and Vietnam veteran, sat on one side of a table, while the Korean vet and Veterans Administration loan officer, Hein, sat on the other. Between them they forged what will be a notable agreement: to finance a home mortgage for Danielson on tribal trust land.

Hein explained that most conventional lenders won't make such a loan, because if the borrower defaults, they can't close on tribal trust land. It took a government-to-government agreement to make this and future VA loans...



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