Illinois General Assembly

  Bills & Resolutions  
  Compiled Statutes  
  Public Acts  
  Legislative Reports  
  IL Constitution  
  Legislative Guide  
  Legislative Glossary  

 Search By Number
 (example: HB0001)
Search Tips

Search By Keyword

 Bill Status of SB0776  100th General Assembly


Short Description:  PREDATORY LENDING DATABASE

Senate Sponsors
Sen. Chris Nybo

Last Action
DateChamber Action
  3/15/2017SenatePlaced on Calendar Order of 2nd Reading March 16, 2017

Statutes Amended In Order of Appearance
765 ILCS 77/70
765 ILCS 77/72
765 ILCS 77/76


Synopsis As Introduced
Amends the Predatory Lending Database Article of the Residential Real Property Disclosure Act. Changes the definition of "counseling" and "originator". Provides that each certificate of compliance with the Article or certificate of exemption must contain, at a minimum, one of the borrower's names on the mortgage loan and the property index number for the subject property. Makes changes concerning the information which must be collected and submitted by the broker or originator and by the title insurance company or closing agent. Effective immediately.

Senate Committee Amendment No. 1
Deletes language providing that in instances of telephone counseling, the borrower must supply all necessary documents to the counselor at least 72 hours prior to the scheduled telephone counseling session. Provides that if the Department of Financial and Professional Regulation recommends counseling for the borrower, the borrower must supply all necessary documents, as set forth by the counselor, at least 72 hours before the scheduled counseling.

Actions 
DateChamber Action
  2/1/2017SenateFiled with Secretary by Sen. Chris Nybo
  2/1/2017SenateFirst Reading
  2/1/2017SenateReferred to Assignments
  2/8/2017SenateAssigned to Financial Institutions
  3/3/2017SenateSenate Committee Amendment No. 1 Filed with Secretary by Sen. Chris Nybo
  3/3/2017SenateSenate Committee Amendment No. 1 Referred to Assignments
  3/7/2017SenateSenate Committee Amendment No. 1 Assignments Refers to Financial Institutions
  3/15/2017SenateSenate Committee Amendment No. 1 Adopted
  3/15/2017SenateDo Pass as Amended Financial Institutions; 008-000-000
  3/15/2017SenatePlaced on Calendar Order of 2nd Reading March 16, 2017

Back To Top