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Public Act 103-0292


Public Act 0292 103RD GENERAL ASSEMBLY



Public Act 103-0292
HB2094 EnrolledLRB103 27736 SPS 54113 b

    AN ACT concerning business.
    Be it enacted by the People of the State of Illinois,
represented in the General Assembly:
    Section 1. Findings. The General Assembly finds that the
need to protect homeowners from unscrupulous actors seeking to
take advantage of homeowners by soliciting mortgage
refinancing through deceptive practices is warranted,
particularly following the unethical practices that led to the
2008 subprime mortgage crisis. These protections will
especially serve new homeowners not familiar with the process
and elderly homeowners who may be more susceptible to
deceptive mortgage marketing materials. In addition, they will
serve to protect the homeowners' actual mortgage companies
that have no affiliation with the solicitors and have had no
part in helping the solicitors obtain the homeowners' mortgage
    Section 5. The Consumer Fraud and Deceptive Business
Practices Act is amended by changing Section 2AAA as follows:
    (815 ILCS 505/2AAA)
    Sec. 2AAA. Mortgage marketing materials.
    (a) No person may send marketing materials to a consumer
indicating that the person is connected to the consumer's
mortgage company, indicating that there is a problem with the
consumer's mortgage, or stating that the marketing materials
contain information concerning the consumer's mortgage, unless
that person sending the marketing materials is actually
employed by the consumer's mortgage company or an affiliate of
the consumer's mortgage company.
    (a-5) Any marketing materials from a mortgage company not
connected to the consumer's mortgage company must comply with
the following requirements:
        (1) no language may be used to state or imply that any
    response by a consumer who is not an existing customer is
    required, imminently or otherwise, including, but not
    limited to, the use of the terms "urgent", "action
    required", "materials inspected", "time sensitive", or
    "important account information enclosed";
        (2) the name of the solicitor's mortgage company must
    be prominently stated:
            (A) in the body of the text;
            (B) at the head of the letter or message in a font
        bigger than the body of the text; and
            (C) on any envelope;
        (3) the name of the consumer's mortgage company may
    not be used to state or insinuate in any way that the
    marketing material is from the consumer's mortgage company
    rather than the solicitor's mortgage company, and can only
    be used in the body of the text and when accompanied by
    clear language explaining that the solicitation is not
    from or affiliated with the consumer's mortgage company,
    and is merely a solicitation. The name of the consumer's
    mortgage company shall not be visible through an envelope
    window, appear on the envelope itself, or appear in an
    email subject line; and
        (4) the text must clearly state if the consumer's
    mortgage company had no part in helping the solicitor
    obtain the homeowner's mortgage information.
    (b) Any person who violates this Section commits an
unlawful practice within the meaning of this Act.
(Source: P.A. 95-508, eff. 1-1-08; 95-876, eff. 8-21-08;
96-328, eff. 8-11-09.)

Effective Date: 1/1/2024