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Real Estate & Property Law

: Housing Wire

Illinois AG to Fed: End Incentives for High-Risk Mortgages

By JON PRIOR

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Illinois? attorney general Lisa Madigan urged the Federal Reserve to end financial incentives for loan officers and mortgage brokers for the types of loans written for borrowers. According to a statement from Madigan?s office, federal law allows lenders to receive bonus compensation based on the type of loan issued, meaning loan officers who place borrowers in [...]

Full post as published by Housing Wire on December 29, 2009 (boomark / email).

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