Illinois General Assembly - Bill Status for HB2325

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Bill Status of HB2325 103rd General Assembly

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Short Description: MORTGAGE LOANS-REMOTE LOCATION

House Sponsors
Rep. Margaret Croke - Maurice A. West, II - Dagmara Avelar - Marcus C. Evans, Jr. - Mark L. Walker

Senate Sponsors
(Sen. Laura Ellman and Michael E. Hastings)

Last Action

Date	Chamber	Action
6/30/2023	House	Public Act . . . . . . . . . 103-0156

Statutes Amended In Order of Appearance

205 ILCS 635/1-3

from Ch. 17, par. 2321-3

205 ILCS 635/1-4

205 ILCS 635/3-11 new

Synopsis As Introduced
Amends the Residential Mortgage License Act of 1987. Provides that each full service office (rather than office, place of business, or location) at which a residential mortgage licensee conducts any part of his or her business must be recorded with the Secretary of Financial and Professional Regulation. Provides that licensees may allow mortgage loan originators to work from a remote location if specified conditions are met. Provides that "full service office" does not include a remote location. Defines "remote location".

Actions

Date	Chamber	Action
2/14/2023	House	Filed with the Clerk by Rep. Margaret Croke
2/14/2023	House	First Reading
2/14/2023	House	Referred to Rules Committee
2/21/2023	House	Assigned to Financial Institutions and Licensing Committee
2/28/2023	House	Added Co-Sponsor Rep. Maurice A. West, II
2/28/2023	House	Do Pass / Short Debate Financial Institutions and Licensing Committee; 011-000-000
2/28/2023	House	Removed Co-Sponsor Rep. Maurice A. West, II
3/1/2023	House	Placed on Calendar 2nd Reading - Short Debate
3/6/2023	House	Added Co-Sponsor Rep. Dagmara Avelar
3/6/2023	House	Removed Co-Sponsor Rep. Dagmara Avelar
3/7/2023	House	Added Co-Sponsor Rep. Marcus C. Evans, Jr.
3/7/2023	House	Removed Co-Sponsor Rep. Marcus C. Evans, Jr.
3/14/2023	House	Second Reading - Short Debate
3/14/2023	House	Placed on Calendar Order of 3rd Reading - Short Debate
3/15/2023	House	Added Chief Co-Sponsor Rep. Maurice A. West, II
3/15/2023	House	Added Chief Co-Sponsor Rep. Dagmara Avelar
3/15/2023	House	Added Chief Co-Sponsor Rep. Marcus C. Evans, Jr.
3/15/2023	House	Added Chief Co-Sponsor Rep. Mark L. Walker
3/21/2023	House	Third Reading - Short Debate - Passed 112-000-000
3/22/2023	Senate	Arrive in Senate
3/22/2023	Senate	Placed on Calendar Order of First Reading
3/22/2023	Senate	Chief Senate Sponsor Sen. Laura Ellman
3/22/2023	Senate	First Reading
3/22/2023	Senate	Referred to Assignments
4/12/2023	Senate	Assigned to Financial Institutions
4/26/2023	Senate	Do Pass Financial Institutions; 008-000-000
4/26/2023	Senate	Placed on Calendar Order of 2nd Reading April 27, 2023
4/27/2023	Senate	Second Reading
4/27/2023	Senate	Placed on Calendar Order of 3rd Reading May 2, 2023
5/4/2023	Senate	Added as Alternate Co-Sponsor Sen. Michael E. Hastings
5/5/2023	Senate	Placed on Calendar Order of 3rd Reading ** May 8, 2023
5/11/2023	Senate	Third Reading - Passed; 056-000-000
5/11/2023	House	Passed Both Houses
6/9/2023	House	Sent to the Governor
6/30/2023	House	Governor Approved
6/30/2023	House	Effective Date January 1, 2024
6/30/2023	House	Public Act . . . . . . . . . 103-0156