SB 2611 Illinois Senate · 94th Regular Session

CONVEYANCES-RESIDENCE MTGE REQ

Summary

Amends the Conveyances Act. Provides that every mortgage or deed of trust in the nature of a mortgage relating to the financing of residential real estate must include the name of the financial institution providing the financing and the loan officer who signed the document, the name of the residential mortgage licensee receiving compensation relating to the financing, the name of the loan originator who signed the mortgage loan application, and the name of the real estate appraiser who provided the appraisal on which the financing was based. Provides that the county recorder may not record a mortgage if the required information is not provided. Provides that the failure to comply with the new requirements does not invalidate the recording of a mortgage or trust deed or impair the rights of the mortgagee or beneficiary of the trust deed.

Bill status failed 1 of 4 stages cleared

Introduction

Jan 2006

Committee Review

Floor Vote

Governor

Introduced Jan 20, 2006 Last action Jan 9, 2007

Floor votes

How they voted

No floor votes recorded yet.

Full legislative history

Actions timeline

Total actions

Key actions

Committee

Amendments

Jan 9, 2007

Senate · Failed

Session Sine Die

Jun 4, 2006

Senate · Referred to committee

Pursuant to Senate Rule 3-9(b) / Referred to Rules

Feb 17, 2006

Senate · Referred to committee

Senate Committee Amendment No. 1 Rule 3-9(a) / Re-referred to Rules

Feb 16, 2006

Senate · Reported by committee

Do Pass as Amended Financial Institutions; 009-000-000

Feb 16, 2006

Senate · Amendment adopted

Senate Committee Amendment No. 2 Adopted

Feb 16, 2006

Senate · Reported by committee

Senate Committee Amendment No. 1 Held in Financial Institutions

Feb 15, 2006

Senate · Reported by committee

Senate Committee Amendment No. 2 Rules Refers to Financial Institutions

Feb 14, 2006

Senate · Referred to committee

Senate Committee Amendment No. 2 Referred to Rules

Feb 14, 2006

Senate · Amendment offered

Senate Committee Amendment No. 2 Filed with Secretary by Sen. Terry Link

Feb 9, 2006

Senate · Reported by committee

Senate Committee Amendment No. 1 Postponed - Financial Institutions

Feb 8, 2006

Senate · Reported by committee

Senate Committee Amendment No. 1 Rules Refers to Financial Institutions

Feb 7, 2006

Senate · Referred to committee

Senate Committee Amendment No. 1 Referred to Rules

Feb 7, 2006

Senate · Amendment offered

Senate Committee Amendment No. 1 Filed with Secretary by Sen. Terry Link

Feb 1, 2006

Senate · Referred to committee

Assigned to Financial Institutions

Jan 20, 2006

Senate · Referred to committee

Referred to Rules

0 primary · 1 co-sponsor