Chicago Bank Sued for Poor Underwriting - Mortgage Forums for Mortgage Brokers

Welcome to MortgageBrokerLand.com, an online community for the mortgage industry where you can join mortgage brokers, wholesale lenders, lead providers, and other industry professionals in discussions concerning today's mortgage business. To gain full access to MortgageBrokerLand.com you must register for a free account. As a registered member you will be able to:

Post loan scenarios for review by wholesale account executives and other mortgage brokers
Communicate privately with other members around the country
Establish your community reputation to take advantage of free offers from service providers

All this and more is available to you when you register for a free account. So sign up today!

If you have any problems with the registration process or your account login, please contact support.

		Mortgage Forums for Mortgage Brokers > Mortgage Business > Mortgage News
Chicago Bank Sued for Poor Underwriting

#1 (permalink)

12-07-2007, 09:15 AM

Veronica Corningstone Veronica Corningstone is offline

Corner Window Office

Join Date: Jan 2006

Posts: 1,768

Veronica Corningstone is on a distinguished road

Chicago Bank Sued for Poor Underwriting

Broadway Bank is fighting allegations in court that it ignored an 83-year-old woman's<font size="3" face="Times New Roman,Georgia,Times"> mental incapacity and phony loan documents in order to make a $1 million loan against her home -- money that her business partners allegedly used for their own purposes. Her son filed the lawsuit on his mother's behalf in 2006, claiming that she was duped by the bank and by her business partners. "The allegations found in this lawsuit involving Broadway Bank are unsubstantiated and without merit," the Chicago-based bank said in a statement.

More...

« Delta to File Bankruptcy | Wholesaler Reduces Operations, Jobs »

Thread Tools
Show Printable Version Email this Page

Posting Rules
You may not post new threads You may not post replies You may not post attachments You may not edit your posts BB code is On Smilies are On [IMG] code is On HTML code is Off Trackbacks are On Pingbacks are On Refbacks are Off

Similar Threads
Thread	Thread Starter	Forum	Replies	Last Post
More Underwriting, Fraud Scrutiny on Ratings	Veronica Corningstone	Mortgage News	0	12-01-2007 07:02 AM
Looking For Leads In Chicago?	THE LEAD GURU	Mortgage Services	0	10-17-2007 12:55 PM
Federal Home Loan Banks of Chicago, Dallas talk merger (Reuters)	Ron Burgundy	Mortgage News	0	08-08-2007 08:48 PM
New Century Updates Underwriting	Veronica Corningstone	Mortgage News	3	10-18-2006 05:55 PM
Mortgage Underwriting Evaluated	Veronica Corningstone	Mortgage News	0	06-27-2006 02:13 PM

All times are GMT -7. The time now is 05:15 PM.