Bill Status of SB2615 100th General Assembly
Short Description: MORTGAGE LOAN ADVERTISEMENTS
Sen. Pamela J. Althoff
|Financial Institutions Hearing Feb 21 2018 10:30AM Capitol 409 Springfield, IL |
Statutes Amended In Order of Appearance
Synopsis As Introduced
Amends the Residential Mortgage License Act of 1987. Provides that mortgage loan advertisements must reference the Nationwide Multistate Licensing System and Registry's Consumer Access website, except where exempted by the Secretary of Financial and Professional Regulation. Provides that a licensee shall not advertise its services in Illinois in any media, whether print or electronic, without including its unique identifier. Replaces "Commissioner" with "Secretary" in order to update references to the Secretary of Financial and Professional Regulation. Makes other changes. Effective immediately.