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HB 5542 Illinois House · 100th Regular Session

MORTGAGE LICENSE-REPORTING

Summary
Amends the Residential Mortgage License Act of 1987. Provides for a list of specified activities that constitute violations of the Act (rather than a list of required averments that must be attached to an application for a license under the Act). Provides that a licensee filing a Mortgage Call Report is not required to file a report of applicable annual activities with the Secretary of Financial and Professional Regulation. Provides that specified licensee disclosures do not apply to any licensee providing notices of changes in loan terms pursuant to the federal Consumer Financial Protection Bureau's Know Before You Owe mortgage disclosure procedure (rather than excluding licensees limited to solicit residential mortgage loan applications as approved by the Secretary of Financial and Professional Regulation). Makes conforming changes. Repeals provisions concerning a requirement that the Secretary of Financial and Professional Regulation conduct, as part of an examination of each licensee, a review of the licensee's loan delinquency data. Replaces "Commissioner" with "Secretary" in order to update references to the Secretary of Financial and Professional Regulation. Effective immediately.
Bill status signed all 5 stages cleared
Introduction
Apr 2018
Committee Review
Nov 2018
House Passage
Nov 2018
Senate Passage
May 2018
Signed into Law
Dec 2018
Introduced Apr 19, 2018 Signed Dec 19, 2018
Floor votes · Senate May 21, 2018 · House Nov 14, 2018

How they voted

39–0
Passed · 9 other
Total votes 48
May 21, 2018
D Democratic28
20 Yea 8
71% Yea
R Republican20
19 Yea 1
95% Yea
Vote distribution
All Yea All Nay Mixed No data
Full legislative history

Actions timeline

Total actions
55
Key actions
10
Committee
14
Amendments
10
Dec 19, 2018
Signed into law
Governor Approved
lower
Nov 14, 2018
Lower · Passed
Passed Both Houses
lower
Nov 14, 2018
Introduced
Senate Floor Amendment No. 1 House Concurs 108-000-000
lower
Nov 13, 2018
Lower · Passed
Senate Floor Amendment No. 1 Motion to Concur Recommends Be Adopted Financial Institutions Committee; 009-000-000
lower
Nov 7, 2018
Committee
Senate Floor Amendment No. 1 Motion to Concur Rules Referred to Financial Institutions Committee
lower
Nov 7, 2018
Introduced
Placed on Calendar Order of Concurrence Senate Amendment(s) 1
lower
Nov 7, 2018
Lower · Passed
Approved for Consideration Rules Committee; 003-000-000
lower
Jul 2, 2018
Committee
Rule 19(b) / Re-referred to Rules Committee
lower
May 21, 2018
Committee
Senate Floor Amendment No. 1 Motion to Concur Referred to Rules Committee
lower
May 21, 2018
Introduced
Senate Floor Amendment No. 1 Motion Filed Concur Rep. Mark Batinick
lower
May 21, 2018
Introduced
Placed on Calendar Order of Concurrence Senate Amendment(s) 1
lower
May 21, 2018
Introduced
Arrived in House
lower
May 21, 2018
Upper · Passed
Senate Floor Amendment No. 1 Adopted; Weaver
upper
May 21, 2018
Senate · Passed
Senate Vote: pass (39-0-9)
senate
May 16, 2018
Introduced
Senate Floor Amendment No. 1 Recommend Do Adopt Financial Institutions; 005-000-000
upper
May 15, 2018
Introduced
Senate Floor Amendment No. 1 Assignments Refers to Financial Institutions
upper
May 10, 2018
Committee
Senate Floor Amendment No. 1 Referred to Assignments
upper
May 10, 2018
Introduced
Senate Floor Amendment No. 1 Filed with Secretary by Sen. Chuck Weaver
upper
May 2, 2018
Upper · Passed
Do Pass Financial Institutions; 006-000-000
upper
Apr 25, 2018
Committee
Assigned to Financial Institutions
upper
Apr 19, 2018
Committee
Referred to Assignments
upper
Apr 19, 2018
Introduced
Arrive in Senate
upper
Apr 9, 2018
Lower · Passed
Do Pass as Amended / Short Debate Financial Institutions Committee; 010-000-000
lower
Apr 9, 2018
Lower · Passed
House Committee Amendment No. 1 Adopted in Financial Institutions Committee; by Voice Vote
lower
Apr 9, 2018
Lower · Passed
House Committee Amendment No. 1 Rules Refers to Financial Institutions Committee
lower
Mar 29, 2018
Committee
House Committee Amendment No. 1 Referred to Rules Committee
lower
Mar 29, 2018
Introduced
House Committee Amendment No. 1 Filed with Clerk by Rep. Nick Sauer
lower
Mar 5, 2018
Committee
Assigned to Financial Institutions Committee
lower
Feb 16, 2018
Committee
Referred to Rules Committee
lower
0 primary · 1 co-sponsor

Sponsors

No sponsor information available.