Overview of OBRE High-Cost Mortgage Rules – NMP Skip to main content

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Real Estate recently announced the following suspensions and fines: ++Condult Financial Services Inc. of Chicago has been revoked of their license, effective Apr. 14.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.
About the author
Published
Oct 12, 2001
Fannie Changes How Rent From A Former Home Counts

Fannie now prohibits leases for departing residences and permits market-analysis tools instead of Form 1007, creating a key documentation difference from Freddie Mac

MPF Expands Eligibility For Manufactured And Renovation Loans

The Mortgage Partnership Finance Program has expanded MPF Traditional eligibility for affordable loans, manufactured homes, renovations, and lender-funded assistance

Sep 22, 2026
Fed Hike Raises HELOC Costs While Mortgage Rates Stay Near 7%

Prime rose to 7% while the 10-year Treasury remained near 5%, giving originators two different borrower conversations

Sep 17, 2026
Rocket Raises Conforming Loan Limit To $845K Ahead Of FHFA

The higher limit gives brokers more room to keep borrowers from crossing into jumbo territory

Sep 10, 2026
Rocket Pro Launches ‘Moving Squad’ To Recruit Brokers From UWM

Rocket is offering partners up to $10,000 to help bring UWM brokers onto its platform

Sep 01, 2026
NEXA, UMortgage Leaders Explain What Drove Acquisition

Kortas relinquishes the CEO title, elevating Casa to co-equal "executive partner"

Aug 31, 2026