Thrifts beware! The vigilante ARM police are on the prowl. With interest rates going uP and More ARM loans being made, they expect business to be brisk.
The top cop is Consumer Loan Advocates of Lake Bluff, Ill., a not-forprofit group that hasn't had to do any advertising - word of mouth seems to have sufficed. In the two years they've been in business, they've managed to get recalcitrant thrifts to cough up uPwards to $10 million for overcharging on adjustable-rate mortgage loans.