Loan originator loses license

A Hoffman Estates man's loan originator license has been revoked after the state concluded he committed fraud.

The state also ordered Javier Mendoza, of the 5000 block of Galloway Drive, to pay a $20,000 fine, according to records from the Illinois Department of Financial and Professional Regulation's Division of Banking. Mendoza worked with Universal Mortgage Services, which is based in Carpentersville.

The department received its first complaint in March from a lender stating Mendoza altered bank statements to allow two loans so the two parties could make two property purchases, records show. One of Universal's owners also held part ownership in the properties, and Mendoza altered loan documents to make the sales go through easier, records state. Mendoza wanted to make the documents look as if there wasn't a conflict of interest in the sales, as Universal owned those properties and stood to profit, records state.

Mendoza's actions led to a failure to keep accurate loan logs and loan files, the records state.