Bill Status of SB 703   95th General Assembly


Short Description:  CONVEY-PRED LENDING-MTGE RIDER

Senate Sponsors
Sen. A. J. Wilhelmi

Last Action  View All Actions

DateChamber Action
  1/13/2009SenateSession Sine Die

Statutes Amended In Order of Appearance
765 ILCS 5/11from Ch. 30, par. 10

Synopsis As Introduced
Amends the Conveyances Act. Provides that every mortgage securing residential real estate shall have attached a rider, certified by the mortgage lender, that states the name of each participant in the origination of the mortgage, the participant's applicable license or registration number, if any, and the participant's function by using these function categories: mortgage origination company; loan officer; appraiser; real estate broker for the seller; real estate broker for the buyer; lender funding the mortgage; and title insurance company. Provides that a mortgage on residential real estate that is subject to the Illinois predatory lending database pilot program must have attached to it a certificate of compliance or a certificate of exemption issued pursuant to that program.

Actions 
DateChamber Action
  2/8/2007SenateFiled with Secretary by Sen. A. J. Wilhelmi
  2/8/2007SenateFirst Reading
  2/8/2007SenateReferred to Rules
  2/21/2007SenateAssigned to Financial Institutions
  3/16/2007SenateRule 3-9(a) / Re-referred to Rules
  1/13/2009SenateSession Sine Die

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