Items Tagged with 'Chicago housing'

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  • Chicago-based MB Financial Bank shuttering national mortgage origination business

    Will maintain Chicago-area origination operation
    Citing the “highly competitive” mortgage lending environment, Chicago-based MB Financial Bank is shuttering its national mortgage origination business. MB Financial has 49 mortgage retail offices in 16 states, in addition to its 86 Chicago-area retail banking branches. The company said that its Chicago-area mortgage operation will remain open, while its national presence will be eliminated.
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  • Chicago mortgage originator accused of bilking elderly homeowners out of $7 million

    Charged with targeting seniors in reverse mortgage scam
    A mortgage originator from Chicago stands accused of running a reverse mortgage scam and defrauding elderly homeowners and lenders out of $7 million. Mark Diamond is currently facing seven counts of wire fraud after being accused of fraudulently causing lenders to make reverse mortgage loans to homeowners who either did not sign up for the loans or did so after Diamond allegedly misrepresented the terms of the loans.
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  • Historically mild winter leads to hot spring housing market in Chicago

    Home sales jump nearly 15% in March
    It was unusually warm in Chicago this winter. How warm? According to the National Weather Service, no snow fell in Chicago in January or February. That’s the first time that’s happened in 146 years. While this year’s winter may be a once-in-a-lifetime event for the Windy City, the mild meteorological start to the year is leading to a hot start for the area’s housing market.
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  • Guaranteed Rate Field to become home of Chicago White Sox

    Mortgage lender buys naming rights for stadium
    For the last 13 years, the Chicago White Sox played their games at U.S. Cellular Field, but beginning next year and for the next 12 after that, the White Sox stadium will have a new name – Guaranteed Rate Field. The White Sox and Guaranteed Rate announced that the Chicago-based mortgage lender is buying the White Sox stadium's naming rights for at least the next 13 years.
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  • Guaranteed Rate offers 1% down mortgage program through homebuyer grant with Chicago

    No first-time homebuyer requirement
    Low down payment mortgage programs have made quite the entrance in to the market as of late. Quicken Loans revealed the details of what went factors made up its 1% down, and now Guaranteed Rate revealed a new 1% down program. This program, however, is significantly different, as Kasey Marty, executive vice president of secondary marketing with Guaranteed Rate, explains.
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  • Chicago housing market saw solid improvement in 2015

    RE/MAX: Median price, home sales rose
    The housing market in the Chicago metropolitan area experienced steady improvement in 2015, with the median sales price and the number of home sales rising over the previous year, according to a new report from RE/MAX.
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  • Illinois AG sues Chicago-area company for preying on struggling Latino homeowners

    Company accused of charging $20K, doing little to save homes
    The Illinois Attorney General filed suit against a Chicago-area company recently, accusing the company of perpetrating a mortgage rescue and consumer fraud scheme that preyed on struggling Latino homeowners by illegally charging approximately $20,000 in upfront fees that resulted in little, if any, help.
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  • Wells Fargo victorious in Chicago-area predatory lending lawsuit

    Judge dismisses claims brought by Cook County
    Wells Fargo secured a victory in court Friday, when a U.S. District Judge dismissed a lawsuit brought against the lender by Cook County, Illinois, which accused the bank of predatory lending. Cook County accused Wells Fargo of steering minority borrowers into higher-priced loans.
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  • Jumbo loan availability lifts Chicago housing

    Prices, home sales rise as the product stages a comeback
    Lower conforming loan limits made it difficult for move-up buyers in Chicago to access loans in the wake of the housing meltdown, but that all changed in 2013 when the jumbo loan product returned to the market.
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