Illinois Regulatory Agencies & Resources  

Banker/Broker Trade Associations

Illinois Mortgage Bankers Association
111 W. Washington St.
Suite 1320
Chicago, IL 60602
(312) 236-6208
Fax: (312) 236-7117
Email: imba@anet-chi.com
Website: http://www.imba.org/

Housing Financing Agencies

Each housing finance agency will establish financing incentive programs based on specified borrower guidelines. The agency works through local lenders to implement these programs. Typical programs may include mortgage loans with low down payment requirements, below-market interest rates or closing cost assistance; loans to rehabilitate existing property or build new homes, and home loans with interest charges that can become a tax credit. Some agencies even offer financing incentives for developers to encourage the building of rental housing.

These programs can vary widely by state and are often subject to change, so potential borrowers should contact these agencies frequently for program availability.

Illinois Housing Development Authority
401 North Michigan Avenue
Suite 900
Chicago IL, 60611
(312) 836-5200
Website: http://www.ihda.org/

Are you having problems dealing with your mortgage lender? Talking to your friends and relatives about your plight may get you sympathy, but it won't get results. How do you complain about (and solve) these types of problems?

How to complain.

Contact an officer of the institution. If the officer does not give you satisfaction, then try a senior manager or the institution's consumer affairs department, if it has one.

If the institution does not solve the problem, contact the proper regulator. Some agencies will send you a standard complaint form to fill out and return. If the regulator has no form, it will want your complaint in writing.

The complaint must contain:

• Your name, address, telephone number, signature, and date;
• The full name of the institution and its address. Also include the address of the institution's home office because that determines the proper supervisory region.
• The type of account (mortgage loan) and the account number.
• Description of the problem, including specific dates and the actions taken by the institution. These dates and actions must be documented, with correspondence, monthly statements, canceled checks, tax bills or similar evidence to support your complaint. Agencies won't review undocumented complaints.
• Names and dates of contacts with individuals at the institution while trying to resolve the problem.

When the regulator receives your complaint, it will send you an acknowledgement letter, describing the actions it will take to resolve your problem. The information in the complaint will be forwarded to the institution, asking for a written response. The institution has a limited amount of time, usually 30 days, to respond.

When the institution does respond, the agency will review the response to see if your concerns have been addressed. It will also check to see if the institution is in compliance with the applicable federal and state laws governing real estate, lending, and fair housing.

The regulator that you should contact depends on the type of lender/broker institution that you are dealing with.

• National chartered Banks

  Office of the Comptroller of the Currency
  1301 McKinney Street
  Suite 3450
  Houston, TX 77010
  (800) 613-6743
  Fax: (713) 336-4301
  Email: Customer.Assistance@occ.treas.gov
  Website: http://www.occ.treas.gov/index.htm

• Federally-chartered Savings and Loans or Savings Banks

  Office of Thrift Supervision
  Office of Consumer Programs
  1700 G Street, NW
  Washington, DC 20552
  (800) 842-6929
  (202) 906-6000
  (800) 917-2849 (TDD)
  Email: consumer.complaint@ots.treas.gov
  Website: http://www.ots.treas.gov/

• Federally-chartered Credit Unions

  National Credit Union Administration
  1775 Duke Street
  Alexandria, VA 22314-3428
  (703) 518-6300
  (703) 518-6510 (ombudsman)
  Fax: (703) 518-6539
  Email: ombudsman@ncua.gov
  Website: http://www.ncua.gov/

• Other lenders/brokers
  Illinois Dept. of Financial and Professional Regulation
  Division of Banks and Real Estate
  310 South Michigan Ave.
  Suite 2130
  Chicago, IL 60604
  312-793-3000
  TDD: 312/793-0291
  (877) 793-3470
  Fax: (312) 793-3977
  Website: http://www.obre.state.il.us/default2.htm
• Illinois Dept. of Financial and Professional Regulation
  Division of Financial Institutions
  James R. Thompson Center
  100 West Randolph St.
  Suite 15-700
  Chicago, IL 60601
  (312) 814-2000
  (312) 814-7138 T.D.D.
  Website: http://www.state.il.us/dfi/default2.htm

  
  
  

  HOUSING COUNSELING AGENCIES

  The housing counseling clearinghouse (HCC) maintains a list of housing/counseling agencies approved by the Department of Housing and Urban Development (HUD).
  
  HUD-approved housing counseling agencies provide housing counseling to Re-enters, first-time buyers, and homeowners. Homeowners with problems or potential problems that could result in default of their mortgage or foreclosure on their property should consider contacting a HUD-approved housing counseling agency.
  
  Since this listing is updated frequently, we offer a direct link to HCC's listing in lieu of providing the list ourselves http://www.hud.gov/offices/hsg/sfh/hcc/hccprof14.cfm