Illinois 96th Regular Session Status: In Committee

HB 856 — RMLA-SERVICING TRANSFERS

Last action — Session Sine Die

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  1. ✓
    Introduced
  2. 2
    In Committee
  3. 3
    Passed House
  4. 4
    Passed Senate
  5. 5
    To Executive
  6. 6
    Enacted

This bill died with 96th Regular Session. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.

This bill is no longer active — its legislative session has ended, so there is no live prognosis. It would have to be reintroduced in the current session to move again.

Summary

Amends the Residential Mortgage Licensing Act of 1987. Provides that whenever a licensee seeks to transfer or sell the servicing of a residential mortgage, the licensee must retain a 25% interest in the servicing of the residential mortgage. Effective immediately.

Bill Text

Action History

  1. Session Sine Die

  2. Rule 19(a) / Re-referred to Rules Committee

  3. Remains in Financial Institutions Committee

  4. Motion Do Pass as Amended - Lost Financial Institutions Committee; 003-013-000

  5. House Committee Amendment No. 1 Adopted in Financial Institutions Committee; by Voice Vote

  6. House Committee Amendment No. 1 Filed with Clerk by Financial Institutions Committee

  7. Assigned to Financial Institutions Committee

  8. Referred to Rules Committee

  9. First Reading

  10. Filed with the Clerk by Rep. Kevin Joyce

Sponsors

  • Kevin Joyce · Cosponsor

Sponsorship breakdown

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0 sponsors · 1 co-sponsors · 182 not signed on

Sponsors (0)

None.

Co-sponsors (1)

  • Kevin Joyce

Not signed on (182)

182 members have not signed on to this bill.

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"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

Whip count is in markup. Polling the chamber and every recorded vote this session. Only the first open is slow. It’s instant for you after this. Calling the roll · Tallying · Engrossing

Subjects

finance housing
Cross-referencing the record. Reading this bill against every other bill in the corpus by meaning, not keywords. Only the first open is slow. It’s instant for you after this. Matching · Ranking · Engrossing

Frequently asked questions

What does HB 856 do?
Amends the Residential Mortgage Licensing Act of 1987. Provides that whenever a licensee seeks to transfer or sell the servicing of a residential mortgage, the licensee must retain a 25% interest in the servicing of the residential mortgage. Effective immediately.
Who sponsors HB 856?
HB 856 is sponsored by Kevin Joyce.
What is the current status of HB 856?
This bill died with 96th Regular Session. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.
Where can I track HB 856?
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Last checked for changes 3 months ago · updated continuously

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