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<xml>
<title>Illinois General Assembly - Bill Status for SB 703    </title>
<shortdesc>CONVEY-PRED LENDING-MTGE RIDER</shortdesc>
<sponsor>
<sponsorhead1>Senate Sponsors</sponsorhead1><sponsors>Sen. A. J. Wilhelmi</sponsors>
</sponsor>
<lastaction>
<statusdate>1/13/2009</statusdate><chamber>Senate</chamber><action>Session Sine Die</action>
</lastaction>
<synopsis>
<synopsistitle></synopsistitle>
<reference>765 ILCS 5/11</reference><aliasreference>from Ch. 30, par. 10</aliasreference><SynopsisText>Amends the Conveyances Act. Provides that every mortgage securing residential real estate shall have attached a rider, certified by the mortgage lender, that states the name of each participant in the origination of the mortgage, the participant's applicable license or registration number, if any, and the participant's function by using these function categories: mortgage origination company; loan officer; appraiser; real estate broker for the seller; real estate broker for the buyer; lender funding the mortgage; and title insurance company. Provides that a mortgage on residential real estate that is subject to the Illinois predatory lending database pilot program must have attached to it a certificate of compliance or a certificate of exemption issued pursuant to that program.</SynopsisText></synopsis>
<actions>
<statusdate>2/8/2007</statusdate><chamber>Senate</chamber><action>Filed with Secretary by Sen. A. J. Wilhelmi</action>
<statusdate>2/8/2007</statusdate><chamber>Senate</chamber><action>First Reading</action>
<statusdate>2/8/2007</statusdate><chamber>Senate</chamber><action>Referred to Rules</action>
<statusdate>2/21/2007</statusdate><chamber>Senate</chamber><action>Assigned to Financial Institutions</action>
<statusdate>3/16/2007</statusdate><chamber>Senate</chamber><action>Rule 3-9(a) / Re-referred to Rules</action>
<statusdate>1/13/2009</statusdate><chamber>Senate</chamber><action>Session Sine Die</action>
</actions>
</xml>

