HR0369

LRB094 12183 RXD 45651 r






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HOUSE RESOLUTION


 
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    WHEREAS, Home builders in Illinois are building 
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contractors engaged in the construction of new homes; and

 
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    WHEREAS, A home includes single-family residences and 
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townhouses, but not apartment buildings or condominiums; and
 
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    WHEREAS, Mortgage brokers in Illinois help individuals 
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find a mortgage lender and mortgage rate for the purchase of a 
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new home; and
 
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    WHEREAS, Home builders at times, in addition to 
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constructing new homes, offer incentives to sign with certain 
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mortgage lender, such incentives include closing cost rebates 
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and home improvement upgrades; and
 
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    WHEREAS, Mortgage brokers are licensed by the State for the 
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purpose of transacting mortgage business, and home builders are 
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not licensed by the State; and
 
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    WHEREAS, Home builders are not licensed by the State for 
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the purpose of mortgage brokering, therefore, the question of 
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whether or not home builders should be licensed if they choose 
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to offer incentives to sign with a mortgage lender is one that 
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needs to be examined by the Illinois General Assembly; 
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therefore, be it

 
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    RESOLVED, BY THE HOUSE OF REPRESENTATIVES OF THE 
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NINETY-FOURTH GENERAL ASSEMBLY OF THE STATE OF ILLINOIS, that 
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there is created the Mortgage Brokering Licensing Task Force, 
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consisting of 6 members appointed as follows: 3 members of the 
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Democratic Caucus of the House of Representatives appointed by 
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the Speaker of the House, and 3 members of the Republican 
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Caucus of the House of Representatives appointed by the 
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Minority Leader of the House; and be it further

 
 


 






HR0369
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LRB094 12183 RXD 45651 r




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    RESOLVED, That the Task Force shall investigate whether or 
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not home builders shall be required to be licensed by the State 
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in order to offer incentives to sign with a particular mortgage 
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lender; and be it further

 
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    RESOLVED, That the members of the Task Force shall appoint 
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a chairperson, and the meetings of the Task Force shall be held 
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at the call of the chair; and be it further
 
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    RESOLVED, That a representative of the Home Builders 
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Association and a representative of the Mortgage Brokers 
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Association be appointed to the Task Force as non-voting 
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members; and be it further
 
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    RESOLVED, That a quorum of the Task Force shall be a simple 
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majority of the elected members of the House of Representatives 
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appointed to the Task Force, and that all recommendations and 
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actions of the Task Force be approved by a simple majority of 
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the members of the Task Force; and be it further
 
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    RESOLVED, That the Task Force shall submit a written report 
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on its findings to the General Assembly by January 1, 2006.