Date	Chamber	Action
1/9/2019	Senate	Session Sine Die

Statutes Amended In Order of Appearance

205 ILCS 635/2-2

205 ILCS 635/2-4

from Ch. 17, par. 2322-4

205 ILCS 635/4-8.3

205 ILCS 635/5-9

205 ILCS 635/4-8 rep.

Synopsis As Introduced
Amends the Residential Mortgage License Act of 1987. Provides for a list of specified activities that constitute violations of the Act (rather than a list of required averments that must be attached to an application for a license under the Act). Provides that a licensee filing a Mortgage Call Report is not required to file a report of applicable annual activities with the Secretary of Financial and Professional Regulation. Provides that specified licensee disclosures do not apply to any licensee providing notices of changes in loan terms pursuant to the federal Consumer Financial Protection Bureau's Know Before You Owe mortgage disclosure procedure (rather than excluding licensees limited to solicit residential mortgage loan applications as approved by the Secretary of Financial and Professional Regulation). Makes conforming changes. Repeals provisions concerning a requirement that the Secretary of Financial and Professional Regulation conduct, as part of an examination of each licensee, a review of the licensee's loan delinquency data. Replaces "Commissioner" with "Secretary" in order to update references to the Secretary of Financial and Professional Regulation. Effective immediately.

Senate Committee Amendment No. 1

	Deletes reference to:
	205 ILCS 635/4-8 rep.

	Adds reference to:
	205 ILCS 635/4-8	from Ch. 17, par. 2324-8

Replaces everything after the enacting clause. Reinserts the provisions of the introduced bill with the following changes: Removes the repeal of provisions concerning delinquency and examination. Instead, changes those provisions to remove the language requiring that the Secretary of Financial and Professional Regulation obtain from the U.S. Department of Housing and Urban Development that Department's loan delinquency data. Makes other technical changes. Effective immediately.

Actions 

Date	Chamber	Action
2/15/2018	Senate	Filed with Secretary by Sen. Chuck Weaver
2/15/2018	Senate	First Reading
2/15/2018	Senate	Referred to Assignments
2/21/2018	Senate	Assigned to Financial Institutions
3/14/2018	Senate	Senate Committee Amendment No. 1 Filed with Secretary by Sen. Chuck Weaver
3/14/2018	Senate	Senate Committee Amendment No. 1 Referred to Assignments
4/4/2018	Senate	Senate Committee Amendment No. 1 Assignments Refers to Financial Institutions
4/11/2018	Senate	Senate Committee Amendment No. 1 Adopted
4/11/2018	Senate	Do Pass as Amended Financial Institutions; 005-000-000
4/11/2018	Senate	Placed on Calendar Order of 2nd Reading April 12, 2018
4/18/2018	Senate	Second Reading
4/18/2018	Senate	Placed on Calendar Order of 3rd Reading April 19, 2018
4/23/2018	Senate	Third Reading - Passed; 047-000-000
4/23/2018	House	Arrived in House
4/23/2018	House	Chief House Sponsor Rep. Nick Sauer
4/24/2018	House	First Reading
4/24/2018	House	Referred to Rules Committee
1/9/2019	Senate	Session Sine Die

Back To Top