Bill Status of HB 5456   97th General Assembly

Short Description:  FORECLOSURE-FAST TRACK-VACANT

House Sponsors
Rep. Luis Arroyo

Last Action  View All Actions

DateChamber Action
  1/8/2013HouseSession Sine Die

Statutes Amended In Order of Appearance
205 ILCS 5/48.01 new
205 ILCS 105/7-3.3 new
205 ILCS 105/10-15
205 ILCS 635/4-1from Ch. 17, par. 2324-1
735 ILCS 5/15-1104from Ch. 110, par. 15-1104
735 ILCS 5/15-1200.5 new
735 ILCS 5/15-1502.5
735 ILCS 5/15-1504from Ch. 110, par. 15-1504
735 ILCS 5/15-1505.8 new
735 ILCS 5/15-1508from Ch. 110, par. 15-1508
735 ILCS 5/15-1603from Ch. 110, par. 15-1603
735 ILCS 5/15-1701from Ch. 110, par. 15-1701
735 ILCS 5/15-1706from Ch. 110, par. 15-1706

Synopsis As Introduced
Amends the Illinois Banking Act and the Illinois Savings and Loan Act of 1985. Provides that upon the conviction of a director or officer of a bank or savings and loan association, or the conviction of a bank or savings and loan association, of the offense of wrongful inducement of abandonment of a residence, the Secretary of the Department of Financial and Professional Regulation shall take control of the financial institution. Amends the Residential Mortgage License Act of 1987. Provides that if a licensee is convicted of wrongful inducement of abandonment, the person's license shall be revoked. Amends the Code of Civil Procedure. Amends provisions setting forth the elements of the offense of wrongful inducement of abandonment (a Class B misdemeanor) by adding language making it a Class A misdemeanor for a mortgagee or a person acting on behalf of a mortgagee to engage in specified prohibited conduct with the intent of inducing a mortgagor or occupant to abandon mortgaged residential real estate or with the intent of obtaining a finding of abandonment of residential real estate. Makes additions to provisions concerning a notice that is required to be sent to mortgagors whose loans are past due. Authorizes a fast-track foreclosure procedure for abandoned residential real estate under specified circumstances. Makes other changes. Effective immediately.

Actions 
DateChamber Action
  2/9/2012HouseFiled with the Clerk by Rep. Luis Arroyo
  2/15/2012HouseFirst Reading
  2/15/2012HouseReferred to Rules Committee
  1/8/2013HouseSession Sine Die

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