Bill Title: Amends the Residential Mortgage License Act of 1987. Defines "loan modification" and "short sale facilitation". Authorizes the Director of the Division of Banking of the Department of Financial and Professional Regulation to establish relationships or contracts with the Nationwide Mortgage Licensing System and Registry. Provides that residential mortgage license applicants may be required to furnish information to the Nationwide Mortgage Licensing System and Registry. Provides that each application for a license or for the renewal of a license shall be accompanied by an averment stating that the applicant will not charge or collect advance payments from borrowers or homeowners for engaging in loan modification or short sale facilitation. Amends the Residential Real Property Disclosure Act. Provides that, for each loan, a broker or loan originator must submit information concerning the borrower's debt to income ratio for inclusion in the predatory lending database. Effective immediately, except that certain provisions take effect on January 1, 2013.

Sponsorship: Partisan Bill (Democrat 11)

Status: (Passed) 2012-08-03 - Public Act . . . . . . . . . 97-0891 [HB4521 Detail]

Text: Latest bill text (Chaptered) [HTML]

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Sponsors

Name	Type	Contact	Phone	District	Sponsorship	State Profile	Financial	Encyclopedia	Biography
Representative Barbara Currie [D]	Primary	Inactive	Inactive	HD-025	Sponsored Bills	Inactive	FollowTheMoney	Ballotpedia	VoteSmart
Representative Jehan Gordon-Booth [D]	Cosponsor	N/A	217-782-3186	HD-092	Sponsored Bills	State Profile	FollowTheMoney	Ballotpedia	VoteSmart
Representative Monique Davis [D]	Cosponsor	Inactive	Inactive	HD-027	Sponsored Bills	Inactive	FollowTheMoney	Ballotpedia	VoteSmart
Representative Elizabeth Hernandez [D]	Cosponsor	Email	217-782-8173	HD-002	Sponsored Bills	State Profile	FollowTheMoney	Ballotpedia	VoteSmart
Representative Maria Berrios [D]	Cosponsor	Inactive	Inactive	HD-039	Sponsored Bills	Inactive	FollowTheMoney	Ballotpedia	VoteSmart
Representative William Davis [D]	Cosponsor	Email	217-782-8197	HD-030	Sponsored Bills	State Profile	FollowTheMoney	Ballotpedia	VoteSmart
Representative Arthur Turner [D]	Cosponsor	Inactive	Inactive	HD-009	Sponsored Bills	Inactive	FollowTheMoney	Ballotpedia	VoteSmart
Representative Camille Lilly [D]	Cosponsor	N/A	217-782-6400	HD-078	Sponsored Bills	State Profile	FollowTheMoney	Ballotpedia	VoteSmart
Representative Kenneth Dunkin [D]	Cosponsor	Inactive	Inactive	HD-005	Sponsored Bills	Inactive	FollowTheMoney	Ballotpedia	VoteSmart
Representative Esther Golar [D]	Cosponsor	Inactive	Inactive	HD-006	Sponsored Bills	Inactive	FollowTheMoney	Ballotpedia	VoteSmart
Senator Jacqueline Collins [D]	Primary	Inactive	Inactive	SD-016	Sponsored Bills	Inactive	FollowTheMoney	Ballotpedia	VoteSmart