Date	Chamber	Action
1/13/2009	Senate	Session Sine Die

Statutes Amended In Order of Appearance

815 ILCS 120/2

from Ch. 17, par. 852

815 ILCS 137/10

Synopsis As Introduced
Amends the Illinois Fairness in Lending Act. Provides that "equity stripping" and "loan flipping" shall only include loans that qualify as high risk home loans. Amends the High Risk Home Loan Act. Provides that "points and fees" does not include: (i) fees paid to the Veterans Administration required by law; (ii) fees paid to the Federal Housing Administration required by law; (iii) fees paid for private mortgage insurance; or (iv) all fees paid to a mortgage broker by a lender if the loan is less than $50,000, or 50% of fees paid to a mortgage broker by a lender if the loan is between $50,000 and $100,000.

Senate Committee Amendment No. 1

	Deletes reference to:
	815 ILCS 120/2

Removes the changes to the definitions of "equity stripping" and "loan stripping" in the Illinois Fairness in Lending Act. In the High Risk Home Loan Act, adds fees paid to the United States Department of Agriculture's Rural Development Loan Program required by law to the exclusions to the definition of "points and fees".

Senate Floor Amendment No. 2
Deletes everything after the enacting clause. Amends the High Risk Home Loan Act. Provides that the term "points and fees" does not include fees paid to the Veterans Administration required by law, fees paid to the Federal Housing Administration required by law, or fees paid to the United States Department of Agriculture's Rural Development Loan Program required by law.

Actions 

Date	Chamber	Action
2/9/2007	Senate	Filed with Secretary by Sen. William R. Haine
2/9/2007	Senate	First Reading
2/9/2007	Senate	Referred to Rules
2/21/2007	Senate	Assigned to Financial Institutions
3/6/2007	Senate	Senate Committee Amendment No. 1 Filed with Secretary by Sen. William R. Haine
3/6/2007	Senate	Senate Committee Amendment No. 1 Referred to Rules
3/7/2007	Senate	Senate Committee Amendment No. 1 Rules Refers to Financial Institutions
3/8/2007	Senate	Senate Committee Amendment No. 1 Postponed - Financial Institutions
3/8/2007	Senate	Postponed - Financial Institutions
3/15/2007	Senate	Senate Committee Amendment No. 1 Adopted
3/15/2007	Senate	Do Pass as Amended Financial Institutions; 007-000-002
3/15/2007	Senate	Placed on Calendar Order of 2nd Reading March 20, 2007
3/23/2007	Senate	Senate Floor Amendment No. 2 Filed with Secretary by Sen. William R. Haine
3/23/2007	Senate	Senate Floor Amendment No. 2 Referred to Rules
3/27/2007	Senate	Second Reading
3/27/2007	Senate	Placed on Calendar Order of 3rd Reading March 28, 2007
3/27/2007	Senate	Senate Floor Amendment No. 2 Rules Refers to Financial Institutions
3/28/2007	Senate	Added as Co-Sponsor Sen. Pamela J. Althoff
3/28/2007	Senate	Senate Floor Amendment No. 2 Recommend Do Adopt Financial Institutions; 008-000-000
3/30/2007	Senate	Rule 2-10 Third Reading Deadline Established As May 31, 2007
4/10/2007	Senate	Added as Chief Co-Sponsor Sen. Jacqueline Y. Collins
4/19/2007	Senate	Recalled to Second Reading
4/19/2007	Senate	Senate Floor Amendment No. 2 Adopted; Haine
4/19/2007	Senate	Placed on Calendar Order of 3rd Reading
4/19/2007	Senate	Third Reading - Passed; 054-000-000
4/20/2007	House	Arrived in House
4/20/2007	House	Placed on Calendar Order of First Reading
4/20/2007	House	Chief House Sponsor Rep. Jim Watson
4/20/2007	House	First Reading
4/20/2007	House	Referred to Rules Committee
4/30/2007	House	Assigned to Executive Committee
5/18/2007	House	Committee Deadline Extended-Rule 9(b) May 25, 2007
5/25/2007	House	Final Action Deadline Extended-9(b) May 31, 2007
5/31/2007	House	Rule 19(a) / Re-referred to Rules Committee
1/13/2009	Senate	Session Sine Die

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