Bill Status of HB 3369   99th General Assembly

Short Description:  RESIDENTIAL MORTGAGE LICENSING

House Sponsors
Rep. Patricia R. Bellock

Senate Sponsors
(Sen. Sue Rezin)


Last Action  View All Actions

DateChamber Action
  7/10/2015HousePublic Act . . . . . . . . . 99-0015

Statutes Amended In Order of Appearance
205 ILCS 635/2-1from Ch. 17, par. 2322-1
205 ILCS 635/2-2
205 ILCS 635/2-6
205 ILCS 635/4-5from Ch. 17, par. 2324-5
205 ILCS 635/4-8from Ch. 17, par. 2324-8

Synopsis As Introduced
Amends the Residential Mortgage License Act of 1987. Provides that the Secretary of Financial and Professional Regulation shall conduct an examination of each licensee that engages in brokering and lending activities, the scope of which shall address the delinquency rate of the licensee's loan portfolio. Provides that licenses shall be renewed every year using the common renewal date of the Nationwide Mortgage Licensing System and Registry as adopted by the Director of the Division of Banking of the Department of Financial and Professional Regulation. Provides that properly completed renewal application forms and filing fees must be received by the Secretary 30 (rather than 60) days prior to the license expiration (rather than renewal) date to be timely received. Removes a provision providing that a license which was not renewed within one year of becoming inactive shall expire. Provides that the Secretary may share with the Residential Mortgage Board non-confidential delinquency rate related information, including any public disciplinary orders against licensees that result from the delinquency rate related examination findings. Removes a provision requiring the publication of a specified notice in the Illinois Register. Makes other changes in provisions concerning licensee names and the application process.

House Committee Amendment No. 1
Replaces everything after the enacting clause. Reinserts the language of the introduced bill with the following changes: makes a change concerning the submission of renewal applications; makes changes to a provision concerning loan delinquency.

Actions 
DateChamber Action
  2/26/2015HouseFiled with the Clerk by Rep. Patricia R. Bellock
  2/26/2015HouseFirst Reading
  2/26/2015HouseReferred to Rules Committee
  3/18/2015HouseAssigned to Business & Occupational Licenses Committee
  3/19/2015HouseHouse Committee Amendment No. 1 Filed with Clerk by Rep. Patricia R. Bellock
  3/19/2015HouseHouse Committee Amendment No. 1 Referred to Rules Committee
  3/23/2015HouseHouse Committee Amendment No. 1 Rules Refers to Business & Occupational Licenses Committee
  3/25/2015HouseHouse Committee Amendment No. 1 Adopted in Business & Occupational Licenses Committee; by Voice Vote
  3/25/2015HouseDo Pass as Amended / Short Debate Business & Occupational Licenses Committee; 009-000-000
  3/26/2015HousePlaced on Calendar 2nd Reading - Short Debate
  4/14/2015HouseSecond Reading - Short Debate
  4/14/2015HousePlaced on Calendar Order of 3rd Reading - Short Debate
  4/16/2015HouseThird Reading - Short Debate - Passed 114-000-000
  4/16/2015SenateArrive in Senate
  4/16/2015SenatePlaced on Calendar Order of First Reading April 21, 2015
  4/16/2015SenateChief Senate Sponsor Sen. Sue Rezin
  4/21/2015SenateFirst Reading
  4/21/2015SenateReferred to Assignments
  4/29/2015SenateAssigned to Licensed Activities and Pensions
  5/7/2015SenateDo Pass Licensed Activities and Pensions; 007-000-000
  5/7/2015SenatePlaced on Calendar Order of 2nd Reading May 12, 2015
  5/18/2015SenateSecond Reading
  5/18/2015SenatePlaced on Calendar Order of 3rd Reading May 19, 2015
  5/19/2015SenateThird Reading - Passed; 057-000-000
  5/19/2015HousePassed Both Houses
  6/17/2015HouseSent to the Governor
  7/10/2015HouseGovernor Approved
  7/10/2015HouseEffective Date January 1, 2016
  7/10/2015HousePublic Act . . . . . . . . . 99-0015

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