HR0369 LRB094 12183 RXD 45651 r

1
HOUSE RESOLUTION

 
2     WHEREAS, Home builders in Illinois are building
3 contractors engaged in the construction of new homes; and
 
4     WHEREAS, A home includes single-family residences and
5 townhouses, but not apartment buildings or condominiums; and
 
6     WHEREAS, Mortgage brokers in Illinois help individuals
7 find a mortgage lender and mortgage rate for the purchase of a
8 new home; and
 
9     WHEREAS, Home builders at times, in addition to
10 constructing new homes, offer incentives to sign with certain
11 mortgage lender, such incentives include closing cost rebates
12 and home improvement upgrades; and
 
13     WHEREAS, Mortgage brokers are licensed by the State for the
14 purpose of transacting mortgage business, and home builders are
15 not licensed by the State; and
 
16     WHEREAS, Home builders are not licensed by the State for
17 the purpose of mortgage brokering, therefore, the question of
18 whether or not home builders should be licensed if they choose
19 to offer incentives to sign with a mortgage lender is one that
20 needs to be examined by the Illinois General Assembly;
21 therefore, be it
 
22     RESOLVED, BY THE HOUSE OF REPRESENTATIVES OF THE
23 NINETY-FOURTH GENERAL ASSEMBLY OF THE STATE OF ILLINOIS, that
24 there is created the Mortgage Brokering Licensing Task Force,
25 consisting of 6 members appointed as follows: 3 members of the
26 Democratic Caucus of the House of Representatives appointed by
27 the Speaker of the House, and 3 members of the Republican
28 Caucus of the House of Representatives appointed by the
29 Minority Leader of the House; and be it further
 

 

 

HR0369 - 2 - LRB094 12183 RXD 45651 r

1     RESOLVED, That the Task Force shall investigate whether or
2 not home builders shall be required to be licensed by the State
3 in order to offer incentives to sign with a particular mortgage
4 lender; and be it further
 
5     RESOLVED, That the members of the Task Force shall appoint
6 a chairperson, and the meetings of the Task Force shall be held
7 at the call of the chair; and be it further
 
8     RESOLVED, That a representative of the Home Builders
9 Association and a representative of the Mortgage Brokers
10 Association be appointed to the Task Force as non-voting
11 members; and be it further
 
12     RESOLVED, That a quorum of the Task Force shall be a simple
13 majority of the elected members of the House of Representatives
14 appointed to the Task Force, and that all recommendations and
15 actions of the Task Force be approved by a simple majority of
16 the members of the Task Force; and be it further
 
17     RESOLVED, That the Task Force shall submit a written report
18 on its findings to the General Assembly by January 1, 2006.