TITLE 38: FINANCIAL INSTITUTIONS
CHAPTER II: DEPARTMENT OF FINANCIAL AND PROFESSIONAL REGULATION
PART 1050 RESIDENTIAL MORTGAGE LICENSE ACT OF 1987
SECTION 1050.1830 OFFER OF MORTGAGE AWARENESS PROGRAM
Section 1050.1830 Offer of Mortgage Awareness Program
a) Any lender, prior to making a high risk home loan, shall inform the borrower in writing of the right to participate in the Mortgage Awareness Program.
b) No lender shall offer less favorable loan terms to a borrower due to a borrower's participation in a Mortgage Awareness Program.
c) Except as prohibited elsewhere in this Part, the borrower may waive participation in the program, provided that the waiver occurs no less than 2 business days after the day that the borrower receives the written notice required by subsection (a) and that the waiver is in writing in a form approved by the Director.
(Source: Amended at 29 Ill. Reg. 14808, effective September 26, 2005)