<?xml version='1.0' encoding='ISO-8859-1'?>
<xml>
<title>Illinois General Assembly - Bill Status for HB 5353   </title>
<shortdesc>ANTI-PREDATORY LENDING</shortdesc>
<sponsor>
<sponsorhead1>House Sponsors</sponsorhead1><sponsors>Rep. Randall M. Hultgren</sponsors>
</sponsor>
<lastaction>
<statusdate>1/9/2007</statusdate><chamber>House</chamber><action>Session Sine Die</action>
</lastaction>
<synopsis>
<synopsistitle></synopsistitle>
<reference>5 ILCS 140/7</reference><aliasreference>from Ch. 116, par. 207</aliasreference><reference>765 ILCS 77/Art. 3 heading</reference><aliasreference></aliasreference><reference>765 ILCS 77/70</reference><aliasreference></aliasreference><reference>765 ILCS 77/72</reference><aliasreference></aliasreference><reference>765 ILCS 77/74</reference><aliasreference></aliasreference><reference>765 ILCS 77/76</reference><aliasreference></aliasreference><SynopsisText>     Amends the Predatory Lending Database Article of the Residential Real Property Disclosure Act. Changes certain references in the Article from "predatory lending database" to "anti-predatory lending database" and from "broker" and "originator" to "licensee". Changes time limits for taking various actions under the Act. Changes the conditions under which a licensee must resubmit information to the Department of Financial and Professional Regulation because of changes in the terms or other aspects of a loan. Provides that the licensee shall electronically transfer to the anti-predatory lending database all disclosure documents provided to the borrower. Makes changes regarding: information a licensee must submit for inclusion in the anti-predatory lending database for each loan for which the licensee takes an application; information a credit counselor must submit for inclusion in the anti-predatory lending database and other duties relating to review of the data entered the anti-predatory lending database by the licensee and comparison of the data to the application information and materials provided by the borrower; and information a title insurance company or closing agent must submit for inclusion in the anti-predatory lending database. Makes other changes. Amends the Freedom of Information Act to make a conforming change. Effective immediately.</SynopsisText></synopsis>
<actions>
<statusdate>1/26/2006</statusdate><chamber>House</chamber><action>Filed with the Clerk by Rep. Randall M. Hultgren</action>
<statusdate>1/26/2006</statusdate><chamber>House</chamber><action>First Reading</action>
<statusdate>1/26/2006</statusdate><chamber>House</chamber><action>Referred to Rules Committee</action>
<statusdate>1/9/2007</statusdate><chamber>House</chamber><action>Session Sine Die</action>
</actions>
</xml>

