State regulators have closed down the Springfield branch of a mortgage lender pending the outcome of an investigation into its record-keeping.
The Illinois Department of Financial and Professional Regulation suspended the license of Diamond Residential Mortgage’s Springfield branch. The order from the department says there is reasonable cause to believe that an unsafe, unsound, or unlawful practice has occurred.
Branch manager Chris Schaller says he and his lawyers are working on the issue and hope to have it resolved shortly.