Illinois General Assembly - Bill Status for HB3369

Illinois General Assembly - Bill Status for HB3369

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Bill Status of HB3369 99th General Assembly

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Short Description: RESIDENTIAL MORTGAGE LICENSING

House Sponsors
Rep. Patricia R. Bellock

Senate Sponsors
(Sen. Sue Rezin)

Last Action

Date	Chamber	Action
7/10/2015	House	Public Act . . . . . . . . . 99-0015

Statutes Amended In Order of Appearance

205 ILCS 635/2-1

from Ch. 17, par. 2322-1

205 ILCS 635/2-2

205 ILCS 635/2-6

205 ILCS 635/4-5

from Ch. 17, par. 2324-5

205 ILCS 635/4-8

from 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

Date	Chamber	Action
2/26/2015	House	Filed with the Clerk by Rep. Patricia R. Bellock
2/26/2015	House	First Reading
2/26/2015	House	Referred to Rules Committee
3/18/2015	House	Assigned to Business & Occupational Licenses Committee
3/19/2015	House	House Committee Amendment No. 1 Filed with Clerk by Rep. Patricia R. Bellock
3/19/2015	House	House Committee Amendment No. 1 Referred to Rules Committee
3/23/2015	House	House Committee Amendment No. 1 Rules Refers to Business & Occupational Licenses Committee
3/25/2015	House	House Committee Amendment No. 1 Adopted in Business & Occupational Licenses Committee; by Voice Vote
3/25/2015	House	Do Pass as Amended / Short Debate Business & Occupational Licenses Committee; 009-000-000
3/26/2015	House	Placed on Calendar 2nd Reading - Short Debate
4/14/2015	House	Second Reading - Short Debate
4/14/2015	House	Placed on Calendar Order of 3rd Reading - Short Debate
4/16/2015	House	Third Reading - Short Debate - Passed 114-000-000
4/16/2015	Senate	Arrive in Senate
4/16/2015	Senate	Placed on Calendar Order of First Reading April 21, 2015
4/16/2015	Senate	Chief Senate Sponsor Sen. Sue Rezin
4/21/2015	Senate	First Reading
4/21/2015	Senate	Referred to Assignments
4/29/2015	Senate	Assigned to Licensed Activities and Pensions
5/7/2015	Senate	Do Pass Licensed Activities and Pensions; 007-000-000
5/7/2015	Senate	Placed on Calendar Order of 2nd Reading May 12, 2015
5/18/2015	Senate	Second Reading
5/18/2015	Senate	Placed on Calendar Order of 3rd Reading May 19, 2015
5/19/2015	Senate	Third Reading - Passed; 057-000-000
5/19/2015	House	Passed Both Houses
6/17/2015	House	Sent to the Governor
7/10/2015	House	Governor Approved
7/10/2015	House	Effective Date January 1, 2016
7/10/2015	House	Public Act . . . . . . . . . 99-0015