A Lake Forest, Ill.-based mortgage company has agreed to pay $1.2 million to eligible consumers seeking mortgage loans who were defrauded by one of the company’s branch managers.
The Illinois Department of Financial and Professional Regulation (IDFPR) recently entered into an assurance of voluntary compliance with Diamond Residential Mortgage Corp. related to alleged mortgage fraud at Diamond’s branch in Springfield, Ill.
Read on for details from the settlement agreement.
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