CHICAGO, IL - December 15, 2010 - (RealEstateRama) -- In an effort to clean up the foreclosure process in Illinois, Brent E. Adams, Secretary of the Illinois Department of Financial and Professional Regulation (IDFPR), today released a 9-point “affidavit preparation expectations” plan
CHICAGO, IL - January 27, 2010 - (RealEstateRama) -- The Illinois Department of Financial and Professional Regulation (IDFPR) today announced it had indefinitely suspended the licenses of Edward Kent, a Real Estate Broker and Associate Appraiser who had been convicted of a crime that caused his name to be placed in the Illinois Sex Offender Database. After receiving a complaint about Mr. Kent, the Department undertook to compare its more than one million licensees against that database.
CHICAGO, IL - December 30, 2009 - (RealEstateRama) -- The Illinois Department of Financial and Professional Regulation (IDFPR) announced today that starting January 4, 2010 mortgage brokers and mortgage bankers will use the Nationwide Mortgage Licensing System (NMLS) for license applications and renewals. Loan originators will also begin transitioning onto the NMLS for their new individual licensing credentials required in 2010. The national data base ensures that any mortgage loan professionals moving to Illinois will be able to demonstrate competency and a record clear of disciplinary actions in any other state in the nation.
CHICAGO, IL - November 18, 2009 - (RealEstateRama) -- Thirty-four Illinois homeowners were made whole this month when the Illinois Department of Financial and Professional Regulation (IDFPR) repaid all the money lost from their escrow funds earlier this year. The homeowners were in default for taxes and insurance coverage after Chicago-based American Escrow, LLC went out of business without making the obligatory property tax and insurance payments from their escrow accounts.