IL HB5542 | 2017-2018 | 100th General Assembly

Status

Spectrum: Bipartisan Bill
Status: Engrossed on April 18 2018 - 50% progression
Action: 2018-11-14 - House Concurs
Text: Latest bill text (Enrolled) [HTML]

Summary

Amends the Residential Mortgage License Act of 1987. Provides for a list of specified activities that constitute violations of the Act (rather than a list of required averments that must be attached to an application for a license under the Act). Provides that a licensee filing a Mortgage Call Report is not required to file a report of applicable annual activities with the Secretary of Financial and Professional Regulation. Provides that specified licensee disclosures do not apply to any licensee providing notices of changes in loan terms pursuant to the federal Consumer Financial Protection Bureau's Know Before You Owe mortgage disclosure procedure (rather than excluding licensees limited to solicit residential mortgage loan applications as approved by the Secretary of Financial and Professional Regulation). Makes conforming changes. Repeals provisions concerning a requirement that the Secretary of Financial and Professional Regulation conduct, as part of an examination of each licensee, a review of the licensee's loan delinquency data. Replaces "Commissioner" with "Secretary" in order to update references to the Secretary of Financial and Professional Regulation. Effective immediately.

Tracking Information

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Title

MORTGAGE LICENSE-REPORTING

Sponsors


Roll Calls

2018-11-14 - House - Concurrence in House (Y: 108 N: 0 NV: 2 Abs: 5) [PASS]
2018-05-21 - Senate - Third Reading in Senate (Y: 49 N: 0 NV: 10 Abs: 0) [PASS]
2018-04-18 - House - Third Reading in House (Y: 111 N: 1 NV: 2 Abs: 1) [PASS]

History

DateChamberAction
2018-11-14HouseHouse Concurs
2018-11-14House3/5 Vote Required
2018-11-14HouseSenate Floor Amendment No. 1 House Concurs 108-000-000
2018-11-13HouseSenate Floor Amendment No. 1 Motion to Concur Recommends Be Adopted Financial Institutions Committee; 009-000-000
2018-11-07HouseSenate Floor Amendment No. 1 Motion to Concur Rules Referred to Financial Institutions Committee
2018-11-07HousePlaced on Calendar Order of Concurrence Senate Amendment(s) 1
2018-11-07HouseApproved for Consideration Rules Committee; 003-000-000
2018-09-04HouseAdded Co-Sponsor Rep. Katie Stuart
2018-08-27HouseAdded Co-Sponsor Rep. LaToya Greenwood
2018-08-16HouseAdded Co-Sponsor Rep. Jay Hoffman
2018-07-02HouseRule 19(b) / Re-referred to Rules Committee
2018-05-21HouseSenate Floor Amendment No. 1 Motion to Concur Referred to Rules Committee
2018-05-21HouseSenate Floor Amendment No. 1 Motion Filed Concur Rep. Mark Batinick
2018-05-21HousePlaced on Calendar Order of Concurrence Senate Amendment(s) 1
2018-05-21HouseArrived in House
2018-05-21SenateThird Reading - Passed; 049-000-000
2018-05-21SenatePlaced on Calendar Order of 3rd Reading
2018-05-21SenateSenate Floor Amendment No. 1 Adopted; Weaver
2018-05-21SenateRecalled to Second Reading
2018-05-16SenateSenate Floor Amendment No. 1 Recommend Do Adopt Financial Institutions; 005-000-000
2018-05-15SenatePlaced on Calendar Order of 3rd Reading May 16, 2018
2018-05-15SenateSecond Reading
2018-05-15SenateSenate Floor Amendment No. 1 Assignments Refers to Financial Institutions
2018-05-10SenateSenate Floor Amendment No. 1 Referred to Assignments
2018-05-10SenateSenate Floor Amendment No. 1 Filed with Secretary by Sen. Chuck Weaver
2018-05-10SenateAdded as Alternate Chief Co-Sponsor Sen. Michael Connelly
2018-05-02SenatePlaced on Calendar Order of 2nd Reading May 3, 2018
2018-05-02SenateDo Pass Financial Institutions; 006-000-000
2018-04-25SenateAssigned to Financial Institutions
2018-04-19SenateReferred to Assignments
2018-04-19SenateFirst Reading
2018-04-19SenateChief Senate Sponsor Sen. Chuck Weaver
2018-04-19SenatePlaced on Calendar Order of First Reading
2018-04-19SenateArrive in Senate
2018-04-18HouseThird Reading - Short Debate - Passed 111-001-000
2018-04-17HouseAdded Chief Co-Sponsor Rep. Nick Sauer
2018-04-17HouseChief Sponsor Changed to Rep. Mark Batinick
2018-04-13HousePlaced on Calendar Order of 3rd Reading - Short Debate
2018-04-13HouseSecond Reading - Short Debate
2018-04-10HousePlaced on Calendar 2nd Reading - Short Debate
2018-04-09HouseDo Pass as Amended / Short Debate Financial Institutions Committee; 010-000-000
2018-04-09HouseHouse Committee Amendment No. 1 Adopted in Financial Institutions Committee; by Voice Vote
2018-04-09HouseHouse Committee Amendment No. 1 Rules Refers to Financial Institutions Committee
2018-03-29HouseHouse Committee Amendment No. 1 Referred to Rules Committee
2018-03-29HouseHouse Committee Amendment No. 1 Filed with Clerk by Rep. Nick Sauer
2018-03-05HouseAssigned to Financial Institutions Committee
2018-02-16HouseReferred to Rules Committee
2018-02-16HouseFirst Reading
2018-02-16HouseFiled with the Clerk by Rep. Nick Sauer

Code Citations

ChapterArticleSectionCitation TypeStatute Text
2056352-2Amended CodeCitation Text
2056352-4Amended CodeCitation Text
2056354-8Repealed CodeCitation Text
2056354-8.3Amended CodeCitation Text
2056355-9Amended CodeCitation Text

Illinois State Sources


Bill Comments

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