Items Tagged with 'Chicago'

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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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  • Hey first-time homebuyers! Chicago bank now offers high yield down payment savings account

    Offers account with 5% annual percentage yield
    Chicago-based Countryside Bank is rolling out a new program for first-time homebuyers in the area who need help saving for a down payment. Besides assistance from bankers who will help create a customized savings plan, the bank’s new program also includes the option of a high yield savings account that has an annual percentage yield of 5%.
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  • Chicago becomes second major city to sue Equifax over data breach

    Follows San Francisco in suing credit reporting agency
    For the second time in two days, one of nation’s largest cities announced that it is suing Equifax over the credit reporting agency’s massive data breach, which led to the personal information of 143 million U.S. consumers being exposed. First it was the city of San Francisco, and now, Chicago is suing as well.
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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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  • Stats show short-term rentals in New Orleans, Chicago drop

    New crackdown against vacation rental services pays off
    Short-term rentals in New Orleans and Chicago saw a decrease even as they increased in other parts of the U.S. One expert explains this new decrease is due to these cities cracking down on sites such as Airbnb, requiring owners to register with the city and enforcing other regulations.
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  • New American Funding expands footprint in Chicago

    Grand opening scheduled for Thursday
    New American Funding announced its expansion in the Chicago area with its latest branch opening. As the company prepares to open its new location, it also selected a branch manager. Here’s more about the grand opening, the branch and its new leader.
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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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