Section 1050.1170  Cancellation of Application

If a residential mortgage loan applicant delivers to a licensee written cancellation of his or her application on the same day application was received by the licensee, the licensee shall refund all sums paid by the applicant, except the licensee may, at its discretion, retain $25.

(Source:  Amended at 29 Ill. Reg. 14808, effective September 26, 2005)