Illinois Regulators Revoke Mortgage Licenses Of 3 For Fraud; Criminal Charges May Be On Horizon

In DuPage County, Illinois, The Herald News reports:

• Criminal charges could be filed in DuPage County Circuit Court in Wheaton against the operators of a Plainfield-based mortgage company accused of encouraging an area couple to falsify a loan application. State authorities on Tuesday revoked the license of Investor's Choice Mortgage Corp. of Plainfield; its owner, Kelli Wilson; and loan originator Amber Seng, according to a release from Gov. Rod Blagojevich's office. The corporation also was fined $20,000.

• The state's Mortgage Fraud Task Force and Department of Financial and Professional Regulation probed Investor's Choice with assistance from the DuPage County sheriff's office, the release indicated. State and local agents searched the company's offices Tuesday, gathering evidence that could lead to the filing of criminal charges, the release stated.

For more, see Plainfield mortgage lender may face criminal charges.

For State of Illinois Press release, see Mortgage Fraud Task Force has shut down mortgage company in DuPage fraud ring.

Go here for State of Illinois revocation orders: Investor’s Choice Revocation, Investor's Choice Fine, Kelli Wilson, loan originator revocation, and Amber Seng, loan originator revocation.