IL Brokers Fined, Shut Down

Veronica Corningstone · #1 (**permalink**) 05-02-2006, 06:13 AM

The Illinois Department of Financial and Professional Regulation handed out fines of nearly $200,000 to 22 licensed residential mortgage offices and shut down one brokerage, according to an April 28 statement. The moves come following an order issued earlier this year by the governor for the department to begin a series of unannounced inspections of mortgage companies "in response to growing instances of mortgage fraud," regulators said in a statement.

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mamoore · #2 (**permalink**) 05-02-2006, 10:35 PM

WOW, what companies were involved? I live in illinois but Dont do any business here. I know of some mortgage companies that it could easily be. I onced was offered a position at one company and when I walked in, I turned right around and walked out. It was that bad. I tried the link you provided but wanted credit card info and register and all that stuff. Anyways, just curious.