News Column

State takes action against mortgage consultants

May 8, 2014

By Mary Ellen Podmolik, Chicago Tribune

May 08--The state is taking action against several individuals, licensed and unlicensed, that it has charged with wrongly offering home loans or mortgage modification services to at least 10 Chicago-area consumers last fall.

The Illinois Department of Financial and Professional Regulation revoked the loan originator license of Jusuf Hodzic, of Chicago. It also ordered Roxana Aranibar, of Brookfield, to stop practicing as a loan originator when she does not hold a license.

Aranibar is affiliated with MRC Consultant Corp., of Chicago, which was registered as a business with the state but is not a licensed mortgage company, according to the state.

Disciplinary action and fines also have been sought against real estate agents Patricia Par, Snezana Markovic and Metropolitan Realty & Development Corp., for working with Hodzic and Aranibar.

In its complaint, the state alleged that Hodzic and Aranibar offered to help homeowners receive modified mortgages or negotiate home purchases and mortgages for consumers who otherwise would not qualify for home purchases. Upfront fees, which are generally illegal for loan modification services, were sometimes charged and fees also were charged for providing fake documents in mortgage loan application packages.

The state has ordered Hodzic to pay a fine of $134,000, Aranibar to pay a fine of $236,000 and MRC to pay a fine of $75,000.

Hodzic declined comment. Aranibar was not immediately available for comment. Efforts to reach Par were unsuccessful.

Markovic said neither she nor Metropolitan Realty & Development had any role in the wrongdoing and she fired Par.

"Patty Par was a rogue agent," Markovic said. "I'm still trying to piece together what had happened. I really had nothing to do with it."

Hodzic and Aranibar can appeal their orders in an administrative law process. Par can request a formal hearing before any disciplinary action is taken against her.

"With thousands of families still reeling from the 2009 recession, it is important for (the state) to continue to prosecute cases of illegal and unlicensed activities that take advantage of struggling homeowners," Manual Flores, acting secretary of the Illinois Department of Financial and Professional Regulation, said in a statement.

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Source: Chicago Tribune (IL)

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