Chicago Tribune (07/25/08)
Illinois authorities have closed down First Chicago Mortgage Co., a loan business that allegedly issued more than $6.6 million in mortgages to home buyers based on false job and income data. Gov. Rod Blagojevich convened a mortgage fraud task force earlier in the year after receiving numerous complaints from people who had taken out mortgages via First Chicago. The Illinois Department of Financial and Professional Regulation examined the firm's files and found that 14 loan applications falsely listed borrowers as working for Advanced Auto Repair and getting paid a substantial salary. A half-dozen other loans also contained serious misrepresentations and even forgeries.
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