Overview of OBRE High-Cost Mortgage Rules

Oct 12, 2001

News from OBREmortgagepress.comOBRE, IAMB, Suspension, Fine, flipping OBRE Announces Fines and Suspensions The Illinois Office of Banks and Real Estate recently announced the following suspensions and fines: ++Condult Financial Services Inc. of Chicago has been revoked of their license, effective Apr. 14. ++Progressive Mortgage Financial Company Inc. of Chicago has been suspended for failure to file income tax returns for the past four years, effective May 7. ++Aggressive Mortgage Inc. of Hillside had its license suspended due to the flipping of loans and operating without a license, effective May 4.

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Oct 12, 2001

Analysis and Data

Mortgage Rates Surpass 7% For First Time This Year

Freddie Mac reported the 30-year fixed-rate mortgage averaged 7.10%.

Freddie Mac today released its Primary Mortgage Market Survey, revealing the 30-year fixed-rate mortgage (FRM) averaged 7.10%, breaching the 7% threshold for the first time this year. “The 30-year fixed-rate mortgage surpassed 7% for the first time this year, jumping from...

Analysis and Data

Existing Home Sales Decline By 4.3% In March

Northeast the only region to see an uptick in sales over prior month, per a new report from the National Association of Realtors

Fewer people bought homes this March than the month before and during March 2023, a new report from the National Association of Realtors (NAR) reveals. Total existing-home sales receded 4.3% from February to a seasonally adjusted annual rate of 4.19 million in March. Year...