|
| | 97TH GENERAL ASSEMBLY
State of Illinois
2011 and 2012
HB5069 Introduced 2/7/2012, by Rep. Daniel Biss SYNOPSIS AS INTRODUCED:
|
| |
Amends the Residential Mortgage License Act of 1987. Requires a person or other entity licensed under the Act to post on its Internet website a list of all documents, records, or other information, including communications with third parties, that the licensee will, or is likely to, request from a borrower as part of the loan application process.
|
| |
| | A BILL FOR |
|
|
| | HB5069 | | LRB097 16280 PJG 61434 b |
|
|
| 1 | | AN ACT concerning regulation.
|
| 2 | | Be it enacted by the People of the State of Illinois,
|
| 3 | | represented in the General Assembly:
|
| 4 | | Section 5. The Residential Mortgage License Act of 1987 is |
| 5 | | amended by adding Section 5-18 as follows:
|
| 6 | | (205 ILCS 635/5-18 new) |
| 7 | | Sec. 5-18. Requirement to post application information on |
| 8 | | website. A licensee shall post on its Internet website a list |
| 9 | | of all documents, records, or other information, including, but |
| 10 | | not limited to, communications with third parties, that the |
| 11 | | licensee will, or is likely to, request from a borrower as part |
| 12 | | of the loan application process.
|