RMLA-SERVICING TRANSFERS House SponsorsRep. Kevin Joyce 1/11/2011HouseSession Sine Die 205 ILCS 635/3-7from Ch. 17, par. 2323-7 Amends the Residential Mortgage Licensing Act of 1987. Provides that whenever a licensee seeks to transfer or sell the servicing of a residential mortgage, the licensee must retain a 25% interest in the servicing of the residential mortgage. Effective immediately.House Committee Amendment No. 1 Deletes reference to:205 ILCS 635/3-7from Ch. 17, par. 2323-7Adds reference to:205 ILCS 5/32.5 new205 ILCS 105/1-6g new205 ILCS 205/6005.5 new205 ILCS 305/51.5 newReplaces everything after the enacting clause. Amends the Illinois Banking Act, the Illinois Savings and Loan Act of 1985, the Savings Bank Act, and the Illinois Credit Union Act. Provides that a bank, savings and loan association, savings bank, or credit union organized under the laws of the State that is a lender for a residential mortgage must retain a permanent 25% interest in the value of the loan. 2/9/2009HouseFiled with the Clerk by Rep. Kevin Joyce 2/10/2009HouseFirst Reading 2/10/2009HouseReferred to Rules Committee 2/18/2009HouseAssigned to Financial Institutions Committee 3/10/2009HouseHouse Committee Amendment No. 1 Filed with Clerk by Financial Institutions Committee 3/10/2009HouseHouse Committee Amendment No. 1 Adopted in Financial Institutions Committee; by Voice Vote 3/10/2009HouseMotion Do Pass as Amended - Lost Financial Institutions Committee; 003-013-000 3/10/2009HouseRemains in Financial Institutions Committee 3/13/2009HouseRule 19(a) / Re-referred to Rules Committee 1/11/2011HouseSession Sine Die