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Repiglican Roast

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Friday, April 28, 2006

Illinois disciplines mortgage firms

[...]
Earlier this year, Gov. Rod Blagojevich ordered the Illinois Department of Financial and Professional Regulation to start making unannounced inspections of licensed mortgage companies. The stepped-up enforcement came in response to a Tribune series on mortgage fraud in November, a Blagojevich aide said.

The disciplinary actions announced Thursday alleged license violations and were not charges of fraud. The recent inspections found that 19 mortgage firms employed 35 unregistered loan originators--the real estate professionals who process mortgage applications.
[...]

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