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SB 1998 Illinois Senate · 95th Regular Session

MULTISTATE MORTGAGE LICENSING

Summary
Amends the Residential Mortgage License Act of 1987. Replaces references to the Commissioner of Banks and Real Estate with the Director of the Division of Banking of the Department of Financial and Professional Regulation throughout the Act. Makes changes in provisions concerning the necessity for a license. Makes changes defining the term "exempt person or entity" and "full service office". Makes changes in provisions concerning the application process for obtaining a license, including provisions concerning a multistate automated licensing system. Makes changes in provisions concerning the application form used to obtain a license. Makes changes in provisions that require specified averments that accompany an application for a license. Makes changes in provisions concerning the Director's refusal to issue a license, including failure to comply with provisions of the multistate automated licensing system. Makes changes in provisions concerning the license issuance and renewal. Makes changes in provisions concerning (i) additional full service offices and (ii) the requirements for posting a license. Makes changes in a provision concerning a licensee's office and staff within the State. Makes changes in provisions requiring that the business affairs of a licensee shall be examined for compliance. Makes changes in provisions concerning the suspension or revocation of a license. Makes changes in provisions concerning annual reports of certain activities. Makes other changes. Contains a nonacceleration clause. Effective January 1, 2009.
Bill status failed 3 of 5 stages cleared
Introduction
Apr 2008
Committee Review
May 2008
Senate Passage
Apr 2008
House Passage
Governor
Introduced Apr 17, 2008 Last action Jan 13, 2009
Floor votes · Senate Apr 17, 2008

How they voted

29–23
Passed · 5 other
Total votes 57
Apr 17, 2008
D Democratic35
29 Yea 3 Nay 3
82% Yea
R Republican22
20 Nay 2
90% Nay
Vote distribution
All Yea All Nay Mixed No data
Full legislative history

Actions timeline

Total actions
48
Key actions
7
Committee
11
Amendments
15
May 31, 2008
Committee
Rule 19(a) / Re-referred to Rules Committee
lower
May 21, 2008
Lower · Passed
Remains in Consumer Protection Committee
lower
May 21, 2008
Lower · Passed
House Committee Amendment No. 1 Adopted in Consumer Protection Committee; by Voice Vote
lower
May 21, 2008
Introduced
House Committee Amendment No. 1 Filed with Clerk by Consumer Protection Committee
lower
May 15, 2008
Committee
Assigned to Consumer Protection Committee
lower
May 15, 2008
Lower · Passed
Committee Deadline Extended-Rule 9(b) May 23, 2008
lower
Apr 24, 2008
Committee
Referred to Rules Committee
lower
Apr 17, 2008
Introduced
Arrived in House
lower
Apr 17, 2008
Amended
Senate Floor Amendment No. 1 Tabled Pursuant to Rule 5-4(a)
upper
Apr 17, 2008
Senate · Passed
Senate Vote: pass (29-23-5)
senate
Apr 16, 2008
Upper · Passed
Senate Floor Amendment No. 3 Adopted; Collins
upper
Apr 16, 2008
Upper · Passed
Senate Floor Amendment No. 2 Adopted; Collins
upper
Apr 16, 2008
Introduced
Senate Floor Amendment No. 3 Recommend Do Adopt Licensed Activities; 005-003-000
upper
Apr 16, 2008
Introduced
Senate Floor Amendment No. 2 Recommend Do Adopt Licensed Activities; 006-000-000
upper
Apr 15, 2008
Introduced
Senate Floor Amendment No. 3 Rules Refers to Licensed Activities
upper
Apr 11, 2008
Committee
Senate Floor Amendment No. 3 Referred to Rules
upper
Apr 11, 2008
Introduced
Senate Floor Amendment No. 3 Filed with Secretary by Sen. Jacqueline Y. Collins
upper
Apr 10, 2008
Introduced
Senate Floor Amendment No. 2 Held in Licensed Activities
upper
Apr 10, 2008
Introduced
Senate Floor Amendment No. 1 Held in Licensed Activities
upper
Apr 9, 2008
Introduced
Senate Floor Amendment No. 2 Rules Refers to Licensed Activities
upper
Apr 9, 2008
Introduced
Senate Floor Amendment No. 1 Rules Refers to Licensed Activities
upper
Apr 2, 2008
Committee
Senate Floor Amendment No. 2 Referred to Rules
upper
Apr 2, 2008
Introduced
Senate Floor Amendment No. 2 Filed with Secretary by Sen. Jacqueline Y. Collins
upper
Apr 2, 2008
Committee
Senate Floor Amendment No. 1 Referred to Rules
upper
Apr 2, 2008
Introduced
Senate Floor Amendment No. 1 Filed with Secretary by Sen. Jacqueline Y. Collins
upper
Mar 13, 2008
Upper · Passed
Do Pass Licensed Activities; 007-000-000
upper
Feb 14, 2008
Committee
Assigned to Licensed Activities
upper
Feb 7, 2008
Committee
Referred to Rules
upper
0 primary · 1 co-sponsor

Sponsors

No sponsor information available.