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SB 1603 Illinois Senate · 97th Regular Session

RESIDENTIAL MORTGAGE LOANS

Summary
Amends the Residential Mortgage License Act of 1987. In a provision concerning definitions, that an "exempt person or entity" shall also mean any person or entity that does not originate mortgage loans in the ordinary course of business, but makes or acquires residential mortgage loans with his or her own funds for his or her or its own investment without intent to make, acquire, or resell more than 3 residential mortgage loans in any one calendar year. Makes other changes. Effective immediately.
Bill status signed all 5 stages cleared
Introduction
Apr 2011
Committee Review
May 2011
Senate Passage
May 2011
House Passage
May 2011
Signed into Law
Jul 2011
Introduced Apr 14, 2011 Signed Jul 14, 2011
Floor votes · Senate Apr 14, 2011 · House May 17, 2011

How they voted

45–0
Passed · 2 other
Total votes 47
Apr 14, 2011
D Democratic28
26 Yea 2
92% Yea
R Republican19
19 Yea
100% Yea
Vote distribution
All Yea All Nay Mixed No data
Full legislative history

Actions timeline

Total actions
30
Key actions
7
Committee
8
Amendments
2
Jul 14, 2011
Signed into law
Governor Approved
upper
May 17, 2011
Upper · Passed
Passed Both Houses
upper
May 12, 2011
Lower · Passed
Do Pass / Short Debate Housing Committee; 013-000-000
lower
May 3, 2011
Committee
Assigned to Housing Committee
lower
Apr 14, 2011
Committee
Referred to Rules Committee
lower
Apr 14, 2011
Introduced
Arrived in House
lower
Apr 14, 2011
Senate · Passed
Senate Vote: pass (45-0-2)
senate
Mar 17, 2011
Upper · Passed
Do Pass as Amended Financial Institutions; 010-000-000
upper
Mar 17, 2011
Upper · Passed
Senate Committee Amendment No. 1 Adopted
upper
Mar 16, 2011
Upper · Passed
Senate Committee Amendment No. 1 Assignments Refers to Financial Institutions
upper
Mar 15, 2011
Committee
Senate Committee Amendment No. 1 Referred to Assignments
upper
Mar 15, 2011
Introduced
Senate Committee Amendment No. 1 Filed with Secretary by Sen. Michael W. Frerichs
upper
Feb 23, 2011
Committee
Assigned to Financial Institutions
upper
Feb 9, 2011
Committee
Referred to Assignments
upper
0 primary · 1 co-sponsor

Sponsors

No sponsor information available.