Mortgage fraud bill stiffens penalties, boosts fees and fines
Tweaks to Illinois’ 1987 Residential Mortgage License Act, signed into law last week by Gov. Pat Quinn, will give the state’s regulatory department more resources to combat shady mortgage lenders who engage in fraud, according to the bill’s supporters. Under the new law–HB4521–mortgage lenders looking to become licensed will have to pay $657 more, or... Read more »