MULTISTATE MORTGAGE LICENSING Senate SponsorsSen. Jacqueline Y. Collins-William Delgado-Iris Y. Martinez-Susan Garrett-Mattie Hunter, Martin A. Sandoval and Kwame Raoul House Sponsors(Rep. Karen A. Yarbrough-Cynthia Soto-Marlow H. Colvin-Deborah L. Graham) 1/13/2009SenateSession Sine Die 205 ILCS 635/1-1.5 new205 ILCS 635/1-3from Ch. 17, par. 2321-3205 ILCS 635/1-4from Ch. 17, par. 2321-4205 ILCS 635/1-5from Ch. 17, par. 2321-5205 ILCS 635/2-2from Ch. 17, par. 2322-2205 ILCS 635/2-3from Ch. 17, par. 2322-3205 ILCS 635/2-4from Ch. 17, par. 2322-4205 ILCS 635/2-5from Ch. 17, par. 2322-5205 ILCS 635/2-6from Ch. 17, par. 2322-6205 ILCS 635/2-7from Ch. 17, par. 2322-7205 ILCS 635/2-8from Ch. 17, par. 2322-8205 ILCS 635/2-9from Ch. 17, par. 2322-9205 ILCS 635/2-11from Ch. 17, par. 2322-11205 ILCS 635/3-1from Ch. 17, par. 2323-1205 ILCS 635/3-2from Ch. 17, par. 2323-2205 ILCS 635/3-3from Ch. 17, par. 2323-3205 ILCS 635/3-4from Ch. 17, par. 2323-4205 ILCS 635/3-5from Ch. 17, par. 2323-5205 ILCS 635/3-9from Ch. 17, par. 2323-9205 ILCS 635/4-1from Ch. 17, par. 2324-1205 ILCS 635/4-2from Ch. 17, par. 2324-2205 ILCS 635/4-3from Ch. 17, par. 2324-3205 ILCS 635/4-4from Ch. 17, par. 2324-4205 ILCS 635/4-5from Ch. 17, par. 2324-5205 ILCS 635/4-6from Ch. 17, par. 2324-6205 ILCS 635/4-8from Ch. 17, par. 2324-8205 ILCS 635/4-8.2205 ILCS 635/4-8.3205 ILCS 635/4-10from Ch. 17, par. 2324-10205 ILCS 635/4-11from Ch. 17, par. 2324-11205 ILCS 635/4-12from Ch. 17, par. 2324-12205 ILCS 635/4-13from Ch. 17, par. 2324-13205 ILCS 635/5-1from Ch. 17, par. 2325-1205 ILCS 635/6-3from Ch. 17, par. 2326-3205 ILCS 635/7-1Amends the Residential Mortgage License Act of 1987. Replaces references to the Commissioner of Banks and Real Estate with the Director of the Division of Banking of the Department of Financial and Professional Regulation throughout the Act. Makes changes in provisions concerning the necessity for a license. Makes changes defining the term "exempt person or entity" and "full service office". Makes changes in provisions concerning the application process for obtaining a license, including provisions concerning a multistate automated licensing system. Makes changes in provisions concerning the application form used to obtain a license. Makes changes in provisions that require specified averments that accompany an application for a license. Makes changes in provisions concerning the Director's refusal to issue a license, including failure to comply with provisions of the multistate automated licensing system. Makes changes in provisions concerning the license issuance and renewal. Makes changes in provisions concerning (i) additional full service offices and (ii) the requirements for posting a license. Makes changes in a provision concerning a licensee's office and staff within the State. Makes changes in provisions requiring that the business affairs of a licensee shall be examined for compliance. Makes changes in provisions concerning the suspension or revocation of a license. Makes changes in provisions concerning annual reports of certain activities. Makes other changes. Contains a nonacceleration clause. Effective January 1, 2009.Senate Floor Amendment No. 2 Provides that "exempt person" means any individual or company exempt from licensure in the State. Provides that the Director of the Division of Banking of the Department of Financial and Professional Regulation shall not require any exempt person to submit information to the multistate automated licensing system. Provides that no person shall be authorized to obtain information from the multistate automated licensing system or initiate any action based on information obtained from the multistate automated licensing system that the person could not otherwise have obtained or initiated based on information currently available under existing State law. Provides that the Director shall accept and abide by the Privacy, Data Security, and Security Breach Notification Policy, as adopted by the multistate automated licensing system, and ensure that it is in full compliance with existing State law. Provides that the Director may make available, upon written request, a copy of the contract between the Department of Financial and Professional Regulation and the multistate automated licensing system that satisfies specified provisions. Provides that the Director may, upon written request and consistent with other state regulators, provide the most recently available audited financial report of the multistate automated licensing system.Senate Floor Amendment No. 3 Adds reference to:New ActCreates the Homeowner Protection Act. Contains provisions concerning credit counseling prior to perfecting foreclosure proceedings. Provides that a servicer shall compile and submit to the Secretary of Financial and Professional Regulation on or before the twentieth business day of every other month a Foreclosure Prevention Report that contains specified information for the preceding 2 months or as otherwise indicated. Provides that the Secretary shall prescribe the form and manner for filing the Foreclosure Prevention Report. Provides that the Secretary may publish for public review the Foreclosure Prevention Report or any information contained in the Foreclosure Prevention Report, except for personally-identifying information regarding borrowers. Specifies that certain provisions are repealed on December 31, 2010. Contains provisions concerning the enforcement of the Act by the Secretary. Provides that the Department of Financial and Professional Regulation may adopt reasonable rules to implement and administer the Act. Provides that all final administrative decisions under the Act are subject to judicial review pursuant to the provisions of the Administrative Review Law and any rules adopted pursuant thereto. Provides that there shall be no waiver of any provision of the Act. Adds a severability clause.House Amendment No. 1 Deletes reference to:205 ILCS 635/1-1.5 new 205 ILCS 635/1-3 from Ch. 17, par. 2321-3205 ILCS 635/1-4 from Ch. 17, par. 2321-4205 ILCS 635/1-5 from Ch. 17, par. 2321-5205 ILCS 635/2-2 from Ch. 17, par. 2322-2205 ILCS 635/2-3 from Ch. 17, par. 2322-3 205 ILCS 635/2-4 from Ch. 17, par. 2322-4205 ILCS 635/2-5 from Ch. 17, par. 2322-5205 ILCS 635/2-6 from Ch. 17, par. 2322-6 205 ILCS 635/2-7 from Ch. 17, par. 2322-7205 ILCS 635/2-8 from Ch. 17, par. 2322-8205 ILCS 635/2-9 from Ch. 17, par. 2322-9205 ILCS 635/2-11 from Ch. 17, par. 2322-11205 ILCS 635/3-1 from Ch. 17, par. 2323-1205 ILCS 635/3-2 from Ch. 17, par. 2323-2205 ILCS 635/3-3 from Ch. 17, par. 2323-3205 ILCS 635/3-4 from Ch. 17, par. 2323-4205 ILCS 635/3-5 from Ch. 17, par. 2323-5205 ILCS 635/3-9 from Ch. 17, par. 2323-9205 ILCS 635/4-1 from Ch. 17, par. 2324-1205 ILCS 635/4-2 from Ch. 17, par. 2324-2205 ILCS 635/4-3 from Ch. 17, par. 2324-3205 ILCS 635/4-4 from Ch. 17, par. 2324-4 205 ILCS 635/4-5 from Ch. 17, par. 2324-5205 ILCS 635/4-6 from Ch. 17, par. 2324-6205 ILCS 635/4-8 from Ch. 17, par. 2324-8205 ILCS 635/4-8.2 205 ILCS 635/4-8.3 205 ILCS 635/4-10 from Ch. 17, par. 2324-10205 ILCS 635/4-11 from Ch. 17, par. 2324-11205 ILCS 635/4-12 from Ch. 17, par. 2324-12205 ILCS 635/4-13 from Ch. 17, par. 2324-13205 ILCS 635/5-1 from Ch. 17, par. 2325-1205 ILCS 635/6-3 from Ch. 17, par. 2326-3205 ILCS 635/7-1Replaces everything after the enacting clause. Creates the Homeowner Protection Act. Contains provisions concerning credit counseling prior to perfecting foreclosure proceedings. Provides that a servicer shall compile and submit to the Secretary of Financial and Professional Regulation on or before the twentieth business day of every other month a Foreclosure Prevention Report that contains specified information for the preceding 2 months or as otherwise indicated. Provides that the Secretary may publish for public review the Foreclosure Prevention Report or any information contained in the Foreclosure Prevention Report, except for personally-identifying information regarding borrowers. Specifies that certain provisions are repealed on December 31, 2010. Contains provisions concerning the enforcement of the Act by the Secretary. Provides that neither the Governor nor any agency or agency head under the jurisdiction of the Governor has any rulemaking authority under the Act, but that the Governor may suggest rules by filing them with the General Assembly and requesting that the General Assembly authorize such rulemaking by law, enact the suggested rules into law, or take other appropriate action in the General Assembly's discretion. Provides that all final administrative decisions under the Act are subject to judicial review pursuant to the provisions of the Administrative Review Law and any rules adopted pursuant thereto. Provides that there shall be no waiver of any provision of the Act. Effective January 1, 2009. 2/7/2008SenateFiled with Secretary by Sen. Jacqueline Y. Collins 2/7/2008SenateFirst Reading 2/7/2008SenateReferred to Rules 2/14/2008SenateAssigned to Licensed Activities 3/13/2008SenateDo Pass Licensed Activities; 007-000-000 3/13/2008SenatePlaced on Calendar Order of 2nd Reading April 1, 2008 3/31/2008SenateAdded as Chief Co-Sponsor Sen. William Delgado 4/2/2008SenateSenate Floor Amendment No. 1 Filed with Secretary by Sen. Jacqueline Y. Collins 4/2/2008SenateSenate Floor Amendment No. 1 Referred to Rules 4/2/2008SenateSenate Floor Amendment No. 2 Filed with Secretary by Sen. Jacqueline Y. Collins 4/2/2008SenateSenate Floor Amendment No. 2 Referred to Rules 4/2/2008SenateAdded as Chief Co-Sponsor Sen. Iris Y. Martinez 4/3/2008SenateAdded as Chief Co-Sponsor Sen. Susan Garrett 4/9/2008SenateSenate Floor Amendment No. 1 Rules Refers to Licensed Activities 4/9/2008SenateSenate Floor Amendment No. 2 Rules Refers to Licensed Activities 4/10/2008SenateSenate Floor Amendment No. 1 Held in Licensed Activities 4/10/2008SenateSenate Floor Amendment No. 2 Held in Licensed Activities 4/11/2008SenateSenate Floor Amendment No. 3 Filed with Secretary by Sen. Jacqueline Y. Collins 4/11/2008SenateSenate Floor Amendment No. 3 Referred to Rules 4/15/2008SenateSenate Floor Amendment No. 3 Rules Refers to Licensed Activities 4/16/2008SenateSenate Floor Amendment No. 2 Recommend Do Adopt Licensed Activities; 006-000-000 4/16/2008SenateSenate Floor Amendment No. 3 Recommend Do Adopt Licensed Activities; 005-003-000 4/16/2008SenateSecond Reading 4/16/2008SenateSenate Floor Amendment No. 2 Adopted; Collins 4/16/2008SenateSenate Floor Amendment No. 3 Adopted; Collins 4/16/2008SenatePlaced on Calendar Order of 3rd Reading April 17, 2008 4/16/2008SenateAdded as Chief Co-Sponsor Sen. Mattie Hunter 4/16/2008SenateAdded as Co-Sponsor Sen. Martin A. Sandoval 4/17/2008SenateAdded as Co-Sponsor Sen. Kwame Raoul 4/17/2008SenateThird Reading - Passed; 031-023-000 4/17/2008SenateSenate Floor Amendment No. 1 Tabled Pursuant to Rule 5-4(a) 4/17/2008HouseArrived in House 4/17/2008HousePlaced on Calendar Order of First Reading 4/17/2008HouseChief House Sponsor Rep. Karen A. Yarbrough 4/24/2008HouseFirst Reading 4/24/2008HouseReferred to Rules Committee 5/6/2008HouseAdded Alternate Chief Co-Sponsor Rep. Cynthia Soto 5/7/2008HouseAdded Alternate Chief Co-Sponsor Rep. Marlow H. Colvin 5/15/2008HouseCommittee Deadline Extended-Rule 9(b) May 23, 2008 5/15/2008HouseAssigned to Consumer Protection Committee 5/20/2008HouseAdded Alternate Chief Co-Sponsor Rep. Deborah L. Graham 5/21/2008HouseHouse Amendment No. 1 Filed with Clerk by Consumer Protection Committee 5/21/2008HouseHouse Amendment No. 1 Adopted in Consumer Protection Committee; by Voice Vote 5/21/2008HouseRemains in Consumer Protection Committee 5/23/2008HouseFinal Action Deadline Extended-9(b) May 31, 2008 5/31/2008HouseRule 19(a) / Re-referred to Rules Committee 1/13/2009SenateSession Sine Die