Sign Up
HB 4521 Illinois House · 97th Regular Session

RESIDENT MORTGAGE LICENSE

Summary
Amends the Residential Mortgage License Act of 1987. Defines "loan modification" and "short sale facilitation". Authorizes the Director of the Division of Banking of the Department of Financial and Professional Regulation to establish relationships or contracts with the Nationwide Mortgage Licensing System and Registry. Provides that residential mortgage license applicants may be required to furnish information to the Nationwide Mortgage Licensing System and Registry. Provides that each application for a license or for the renewal of a license shall be accompanied by an averment stating that the applicant will not charge or collect advance payments from borrowers or homeowners for engaging in loan modification or short sale facilitation. Amends the Residential Real Property Disclosure Act. Provides that, for each loan, a broker or loan originator must submit information concerning the borrower's debt to income ratio for inclusion in the predatory lending database. Effective immediately, except that certain provisions take effect on January 1, 2013.
Bill status signed all 5 stages cleared
Introduction
Mar 2012
Committee Review
May 2012
House Passage
May 2012
Senate Passage
May 2012
Signed into Law
Aug 2012
Introduced Mar 21, 2012 Signed Aug 3, 2012
Floor votes · Senate May 30, 2012 · House May 31, 2012

How they voted

29–20
Passed · 6 other
Total votes 55
May 30, 2012
D Democratic32
28 Yea 4
87% Yea
R Republican23
1 Yea 20 Nay 2
86% Nay
Vote distribution
All Yea All Nay Mixed No data
Full legislative history

Actions timeline

Total actions
62
Key actions
11
Committee
13
Amendments
11
Aug 3, 2012
Signed into law
Governor Approved
lower
May 31, 2012
Lower · Passed
Passed Both Houses
lower
May 31, 2012
Introduced
Senate Floor Amendment No. 1 House Concurs 066-052-000
lower
May 31, 2012
Lower · Passed
Senate Floor Amendment No. 1 Motion to Concur Recommends Be Adopted Rules Committee; 005-000-000
lower
May 31, 2012
Committee
Senate Floor Amendment No. 1 Motion to Concur Referred to Rules Committee
lower
May 31, 2012
Introduced
Senate Floor Amendment No. 1 Motion Filed Concur Rep. Barbara Flynn Currie
lower
May 30, 2012
Introduced
Placed on Calendar Order of Concurrence Senate Amendment(s) 1
lower
May 30, 2012
Introduced
Arrived in House
lower
May 30, 2012
Upper · Passed
Senate Floor Amendment No. 1 Adopted; Cullerton
upper
May 30, 2012
Senate · Passed
Senate Vote: pass (29-20-6)
senate
May 23, 2012
Introduced
Senate Floor Amendment No. 1 Recommend Do Adopt Executive; 015-000-000
upper
May 22, 2012
Introduced
Senate Floor Amendment No. 1 Assignments Refers to Executive
upper
May 21, 2012
Committee
Senate Floor Amendment No. 1 Referred to Assignments
upper
May 21, 2012
Introduced
Senate Floor Amendment No. 1 Filed with Secretary by Sen. John J. Cullerton
upper
Apr 26, 2012
Upper · Passed
Do Pass Executive; 011-002-000
upper
Apr 11, 2012
Committee
Assigned to Executive
upper
Mar 21, 2012
Committee
Referred to Assignments
upper
Mar 21, 2012
Introduced
Arrive in Senate
upper
Mar 6, 2012
Lower · Passed
House Floor Amendment No. 2 Adopted by Voice Vote
lower
Mar 5, 2012
Lower · Passed
House Floor Amendment No. 2 Recommends Be Adopted Rules Committee; 004-000-000
lower
Mar 1, 2012
Committee
House Floor Amendment No. 2 Referred to Rules Committee
lower
Mar 1, 2012
Introduced
House Floor Amendment No. 2 Filed with Clerk by Rep. Marlow H. Colvin
lower
Feb 28, 2012
Lower · Passed
Do Pass as Amended / Short Debate Consumer Protection Committee; 015-006-000
lower
Feb 28, 2012
Lower · Passed
House Committee Amendment No. 1 Adopted in Consumer Protection Committee; by Voice Vote
lower
Feb 28, 2012
Lower · Passed
House Committee Amendment No. 1 Rules Refers to Consumer Protection Committee
lower
Feb 27, 2012
Committee
House Committee Amendment No. 1 Referred to Rules Committee
lower
Feb 27, 2012
Introduced
House Committee Amendment No. 1 Filed with Clerk by Rep. Marlow H. Colvin
lower
Feb 7, 2012
Committee
Assigned to Consumer Protection Committee
lower
Jan 31, 2012
Committee
Referred to Rules Committee
lower
0 primary · 1 co-sponsor

Sponsors

No sponsor information available.