Date	Chamber	Action
1/8/2019	House	Session Sine Die

Statutes Amended In Order of Appearance

205 ILCS 635/1-3

from Ch. 17, par. 2321-3

205 ILCS 635/1-4

Synopsis As Introduced
Amends the Residential Mortgage License Act of 1987. Provides that an entity engaged solely in independent loan processing or underwriting is exempted from certain licensing requirements. Provides that those entities engaged solely in independent loan processing or underwriting shall submit an annual application for registration as an exempt entity with the Department of Financial and Professional Regulation through the Nationwide Mortgage Licensing System and Registry and comply with specific requirements. Adds those entities to the definition of "exempt person or entity". Excludes independent loan processing or underwriting from the definition of "soliciting, processing, placing, or negotiating a residential mortgage loan", "loan brokering", "brokering", or "brokerage services". Excludes independent loan processing or underwriting from the definition of "originating". Defines "independent loan processing or underwriting". Effective immediately.

Actions 

Date	Chamber	Action
1/24/2017	House	Filed with the Clerk by Rep. Margo McDermed
1/24/2017	House	First Reading
1/24/2017	House	Referred to Rules Committee
2/2/2017	House	Assigned to Executive Committee
2/9/2017	House	Re-assigned to Judiciary - Civil Committee
2/24/2017	House	To Commercial Law Subcommittee
3/14/2017	House	House Committee Amendment No. 1 Filed with Clerk by Rep. Margo McDermed
3/14/2017	House	House Committee Amendment No. 1 Referred to Rules Committee
3/31/2017	House	Rule 19(a) / Re-referred to Rules Committee
1/8/2019	House	Session Sine Die

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