Bill Text: IL HB5069 | 2011-2012 | 97th General Assembly | Introduced

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Bill Title: Amends the Residential Mortgage License Act of 1987. Requires a person or other entity licensed under the Act to post on its Internet website a list of all documents, records, or other information, including communications with third parties, that the licensee will, or is likely to, request from a borrower as part of the loan application process.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Failed) 2013-01-08 - Session Sine Die [HB5069 Detail]

Download: Illinois-2011-HB5069-Introduced.html

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97TH GENERAL ASSEMBLY State of Illinois 2011 and 2012 HB5069 Introduced 2/7/2012, by Rep. Daniel Biss SYNOPSIS AS INTRODUCED:
205 ILCS 635/5-18 new
Amends the Residential Mortgage License Act of 1987. Requires a person or other entity licensed under the Act to post on its Internet website a list of all documents, records, or other information, including communications with third parties, that the licensee will, or is likely to, request from a borrower as part of the loan application process.
LRB097 16280 PJG 61434 b
A BILL FOR
HB5069 LRB097 16280 PJG 61434 b
AN ACT concerning regulation.
Be it enacted by the People of the State of Illinois,
represented in the General Assembly:
Section 5. The Residential Mortgage License Act of 1987 is
amended by adding Section 5-18 as follows:
(205 ILCS 635/5-18 new)
Sec. 5-18. Requirement to post application information on
website. A licensee shall post on its Internet website a list
of all documents, records, or other information, including, but
not limited to, communications with third parties, that the
licensee will, or is likely to, request from a borrower as part
of the loan application process.