Did Chicago Mob Linked Broadway Bank Indirectly Help Get Obama's Mortgage?

Marathon Pundit reports:

On The Washington Post story "Obama Got Discount Home Loan" the campaign, through spokesman Ben LaBolt, tells The Bourbon Room that Barack Obama received a loan that "anyone with the Obamas’ financial profile could have gotten the same rate on that mortgage."



LaBolt says the Obama family was flush with cash at the time they were loan shopping and that the bank in question, Northern Trust, sought their business by offering a lower mortgage rate and to respond to a competitive mortgage rate offered by another lender. LaBolt would not identify the lender "at this time."


"There was a competitive offer from another bank and the Obamas had a substantial amount of cash to deposit in the bank," LaBolt said. "Northern Trust made the loan for commercial reasons."



The Obama family secured a $1.32 million loan from Northern Trust for a $1.65 million home in Chicago. The interest rate was 5.625 percent on a 30-year, fixed-rate loan. The Post says the rate "below the average for such loans at the time in Chicago."

Was that lender Broadway Bank?