Items Tagged with 'Chicago real estate'

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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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  • Cook County judge indicted for role in mortgage fraud scheme

    Jessica O’Brien accused of fraudulently obtaining $1.4 million in mortgage loans
    A Cook County, Illinois, judge finds herself on the wrong end of criminal charges after federal authorities accused her of taking part in a $1.4 million mortgage fraud scheme. According to the U.S. Attorney’s Office, Jessica O’Brien caused lenders to issue and refinance approximately $1.4 million in mortgage and commercial loans by “making false representations and concealing material facts in documents submitted to the lenders.”
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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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  • Mortgage Master expands, promotes two managers

    Will oversee new branches in Chicago
    Mortgage Master, a national mortgage lender and division of loanDepot, announced Tuesday that they are expanding their offices in Northbrook, Illinois. Jorden Brok and Brett Lotsoff received promotions and are now co-managers of both the Northbrook and North River branches in Chicago.
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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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