Counties & Townships Committee
Filed: 3/12/2009
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1 | AMENDMENT TO HOUSE BILL 705
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2 | AMENDMENT NO. ______. Amend House Bill 705, on page 4, line | ||||||
3 | 16, by replacing " , Kane, and Will counties County " with | ||||||
4 | "County"; and
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5 | on page 4, by replacing lines 18 through 20 with the following: | ||||||
6 | "The inception date of the program shall be July 1, 2008. A | ||||||
7 | predatory lending
database program shall be expanded to include | ||||||
8 | Kane, Peoria, and Will counties. The
inception date of the | ||||||
9 | expansion of the program as it applies to Kane, Peoria, and | ||||||
10 | Will
counties shall be July 1, 2010. Until the inception date, | ||||||
11 | none"; and
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12 | on page 9, line 18, after "include", by inserting: " , by | ||||||
13 | county, "; and
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14 | on page 10, by replacing line 1 with the following:
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15 | "counseling ; . |
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1 | (6) the number of licensed mortgage brokers and loan | ||||||
2 | originators entering information into
the database; | ||||||
3 | (7) the number of investigations based on information | ||||||
4 | obtained from the database,
including the number of | ||||||
5 | licensees fined, the number of licenses suspended, and the
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6 | number of licenses revoked; | ||||||
7 | (8) a summary of the types of non-traditional mortgage | ||||||
8 | products being offered; and | ||||||
9 | (9) a summary of how the Department is actively | ||||||
10 | utilizing the program to combat
mortgage fraud. ".
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