Illinois 96th Regular Session Status: Passed House

HB 705 — PREDATORY LEND DATA-KANE WILL

Last action — Session Sine Die

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  1. ✓
    Introduced
  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 “Passed House” 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This bill is no longer active — its legislative session has ended, so there is no live prognosis.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 Real Property Disclosure Act. Provides that a predatory lending database program shall be established within Cook, Kane, and Will counties (instead of Cook County). Provides that the inception date of the program as it applies to Kane and Will counties shall be July 1, 2010. Effective immediately.

Bill Text

What changed in the latest version

169 added · 173 removed

Plain-language change summary

The legislation has been updated to include Kane, Peoria, and Will counties in the predatory lending database program, expanding its scope beyond just Cook County. The expansion will begin on July 1, 2010, allowing more areas to participate in tracking and addressing predatory lending practices. This change is significant because it aims to protect more residents from predatory lending, thereby fostering a safer borrowing environment across additional counties.

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*LRB09608469AJO18588b* HB0705 96TH GENERAL ASSEMBLY State of Illinois and 2010 HB0705 Introduced 2/6/2009, by Rep.
HB0705 Engrossed LRB096 08469 AJO 18588 b AN ACT concerning property.
Keith Farnham - Emily McAsey SYNOPSIS AS INTRODUCED:
ILCS 77/70 Amends the Residential Real Property Disclosure Act.
Provides that a and Will counties (instead of Cook County).
Provides that the inceptionne, date of the program as it applies to Kane and Will counties shall be July 1, 2010.
Effective immediately.
LRB096 08469 AJO 18588 b FISCAL NOTE ACT MAY APPLY A BILL FOR HB0705 LRB096 08469 AJO 18588 b AN ACT concerning property.
"Counseling" means in-person counseling provided by a counselor employed by a HUD-certified counseling agency to all HB0705 - 2 - LRB096 08469 AJO 18588 b borrowers, or documented telephone counseling where a hardship would be imposed on one or more borrowers.
"Counseling" means in-person counseling provided by a counselor employed by a HUD-certified counseling agency to all HB0705 Engrossed - 2 - LRB096 08469 AJO 18588 b borrowers, or documented telephone counseling where a hardship would be imposed on one or more borrowers.
"Exempt person" means that term as it is defined in subsections (d)(1) and (d)(1.5) of Section 1-4 of the HB0705 - 3 - LRB096 08469 AJO 18588 b Residential Mortgage License Act of 1987.
"Exempt person" means that term as it is defined in subsections (d)(1) and (d)(1.5) of Section 1-4 of the HB0705 Engrossed - 3 - LRB096 08469 AJO 18588 b Residential Mortgage License Act of 1987.
"Points and fees" has the meaning ascribed to that term in HB0705 - 4 - LRB096 08469 AJO 18588 b Section 10 of the High Risk Home Loan Act.
"Points and fees" has the meaning ascribed to that term in HB0705 Engrossed - 4 - LRB096 08469 AJO 18588 b Section 10 of the High Risk Home Loan Act.
(a-5) A predatory lending database program shall be established within Cook, Kane, and Will counties County.
(a-5) A predatory lending database program shall be established within Cook County.
The inception date of the program as it applies to Kane and Will counties shall be July 1, 2010.
A predatory lending database program shall be expanded to include Kane, Peoria, and Will counties.
The inception date of the expansion of the program as it applies to Kane, Peoria, and Will counties shall be July 1, 2010.
The program shall apply to all mortgage applications that are governed by this Article and that are made or taken on or after the inception of the program.
The program shall apply to all mortgage applications that are governed by this Article and that are made or taken on or after the inception of the HB0705 Engrossed - 5 - LRB096 08469 AJO 18588 b program.
(b) The database created under this program shall be HB0705 - 5 - LRB096 08469 AJO 18588 b maintained and administered by the Department.
(b) The database created under this program shall be maintained and administered by the Department.
If at any time after submitting the information required under Section 72 the broker or originator (i) changes the terms of the loan or (ii) issues a new commitment to the borrower, then, within 5 days thereafter, the broker or originator shall re-submit all of the information required under Section 72 and, within 4 days after receipt of the information re-submitted by the broker or originator, the HB0705 - 6 - LRB096 08469 AJO 18588 b Department shall compare that information to the housing counseling standards in Section 73 and shall issue to the borrower and the broker or originator a new determination of whether re-counseling is recommended for the borrower based on the information re-submitted by the broker or originator.
If at any time after submitting the information required under Section 72 the broker or originator (i) changes the terms of the loan or (ii) issues a new commitment to the borrower, then, within 5 days thereafter, the broker or originator shall re-submit all of the information required HB0705 Engrossed - 6 - LRB096 08469 AJO 18588 b under Section 72 and, within 4 days after receipt of the information re-submitted by the broker or originator, the Department shall compare that information to the housing counseling standards in Section 73 and shall issue to the borrower and the broker or originator a new determination of whether re-counseling is recommended for the borrower based on the information re-submitted by the broker or originator.
The Department shall annually calculate to the nearest dollar an adjusted rate for inflation.
The HB0705 Engrossed - 7 - LRB096 08469 AJO 18588 b Department shall annually calculate to the nearest dollar an adjusted rate for inflation.
A counselor shall not recommend or HB0705 - 7 - LRB096 08469 AJO 18588 b suggest that a borrower contact any specific mortgage origination company, financial institution, or entity that deals in mortgage finance to obtain a loan, another quote, or for any other reason related to the specific mortgage transaction;
A counselor shall not recommend or suggest that a borrower contact any specific mortgage origination company, financial institution, or entity that deals in mortgage finance to obtain a loan, another quote, or for any other reason related to the specific mortgage transaction;
(f) Within 10 days after closing, the title insurance company or closing agent must submit to the predatory lending database all of the information required under Section 76 and any other information required by the Department by rule.
(f) Within 10 days after closing, the title insurance company or closing agent must submit to the predatory lending HB0705 Engrossed - 8 - LRB096 08469 AJO 18588 b database all of the information required under Section 76 and any other information required by the Department by rule.
HB0705 - 8 - LRB096 08469 AJO 18588 b (g) The title insurance company or closing agent shall attach to the mortgage a certificate of compliance with the requirements of this Article, as generated by the database.
(g) The title insurance company or closing agent shall attach to the mortgage a certificate of compliance with the requirements of this Article, as generated by the database.
Any request for production of information from the predatory lending database, whether by subpoena, notice, or any other source, shall be referred to the Department of Financial and Professional Regulation.
Any request for production of information from the predatory lending database, whether by subpoena, notice, or any other source, shall be referred to the Department of Financial and HB0705 Engrossed - 9 - LRB096 08469 AJO 18588 b Professional Regulation.
The Department may use the HB0705 - 9 - LRB096 08469 AJO 18588 b information in the database without the consent of the borrower:
The Department may use the information in the database without the consent of the borrower:
The report shall include at least the following information for each reporting period:
The report shall include, by county, at least the following information for each reporting period:
(4) the number of loans requiring counseling for each of the standards set forth in Section 73;
(4) the number of loans requiring counseling for each HB0705 Engrossed - 10 - LRB096 08469 AJO 18588 b of the standards set forth in Section 73;
(5) the number of loans requiring counseling where the mortgage originator changed the loan terms subsequent to HB0705 - 10 - LRB096 08469 AJO 18588 b counseling.
(5) the number of loans requiring counseling where the mortgage originator changed the loan terms subsequent to counseling;.
(6) the number of licensed mortgage brokers and loan originators entering information into the database;
(7) the number of investigations based on information obtained from the database, including the number of licensees fined, the number of licenses suspended, and the number of licenses revoked;
(8) a summary of the types of non-traditional mortgage products being offered;
and (9) a summary of how the Department is actively utilizing the program to combat mortgage fraud.
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Action History

  1. Session Sine Die

  2. Rule 2-10 Third Reading Deadline Established As May 31, 2009

  3. Rule 3-9(a) / Re-referred to Assignments

  4. Held in Financial Institutions

  5. Held in Financial Institutions

  6. Added as Alternate Chief Co-Sponsor Sen. Jacqueline Y. Collins

  7. Assigned to Financial Institutions

  8. Referred to Assignments

  9. First Reading

  10. Chief Senate Sponsor Sen. David Koehler

  11. Placed on Calendar Order of First Reading

  12. Arrive in Senate

  13. Third Reading - Short Debate - Passed 098-017-000

  14. Added Co-Sponsor Rep. Al Riley

  15. Remove Chief Co-Sponsor Rep. David E. Miller

  16. Placed on Calendar Order of 3rd Reading - Short Debate

  17. Second Reading - Short Debate

  18. House Committee Amendment No. 1 Fiscal Note Filed as Amended

  19. Held on Calendar Order of Second Reading - Short Debate

  20. Second Reading - Short Debate

  21. Held on Calendar Order of Second Reading - Short Debate

  22. Second Reading - Short Debate

  23. Added Co-Sponsor Rep. Jack McGuire

  24. House Committee Amendment No. 1 Fiscal Note Requested as Amended by Rep. Dennis M. Reboletti

  25. Added Co-Sponsor Rep. Linda Chapa LaVia

  26. Placed on Calendar 2nd Reading - Short Debate

  27. Do Pass as Amended / Short Debate Counties & Townships Committee; 009-000-000

  28. House Committee Amendment No. 1 Adopted in Counties & Townships Committee; by Voice Vote

  29. House Committee Amendment No. 1 Filed with Clerk by Counties & Townships Committee

  30. Added Co-Sponsor Rep. Jehan A. Gordon

  31. Added Chief Co-Sponsor Rep. David E. Miller

  32. Added Co-Sponsor Rep. Careen M. Gordon

  33. Re-assigned to Counties & Townships Committee

  34. Added Co-Sponsor Rep. Lisa M. Dugan

  35. Assigned to Executive Committee

  36. Added Chief Co-Sponsor Rep. Fred Crespo

  37. Referred to Rules Committee

  38. First Reading

  39. Chief Co-Sponsor Rep. Emily McAsey

  40. Filed with the Clerk by Rep. Keith Farnham

Sponsors

  • Keith Farnham · Cosponsor

Sponsorship breakdown

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0 sponsors · 1 co-sponsors · 182 not signed on · 1 voted No

Sponsors (0)

None.

Co-sponsors (1)

  • Keith Farnham

Not signed on (182)

182 members have not signed on to this bill.

Show all 182 →

"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

Votes

Third Reading

Passed 98 Yea · 17 Nay · 3 Other
Party YeaNayPresentNot Voting
Unaffiliated 851602
Democrat 11000
Republican 2101
Total 981703
% of votes cast 83%14%0%3%
How each member voted (118)
Member Party Vote
Graham — Yea
Myers — Yea
Jefferson — Yea
Nekritz — Nay
Leitch — Yea
Davis, Monique — Yea
Reitz — Yea
Lyons — Yea
Dugan — Yea
Dunkin — Yea
Durkin — Yea
Mautino — Yea
McAuliffe — Yea
McCarthy — Yea
Mell — Yea
Moffitt — Yea
Mulligan — Yea
Phelps — Yea
Senger — Yea
Sommer — Yea
Thapedi — Yea
Tryon — Yea
Bradley — Yea
McGuire — Yea
Brady — Yea
Turner — Yea
Verschoore — Yea
Sullivan — Yea
Wait — Yea
Burke — Yea
Mitchell, Bill — Yea
Washington — Yea
Mitchell, Jerry — Yea
Winters — Yea
Gordon, Jehan — Yea
Yarbrough — Yea
Zalewski — Yea
Hannig — Yea
Harris — Yea
Watson — Yea
Hernandez — Yea
Howard — Yea
Cavaletto — Yea
Colvin — Yea
Coulson — Yea
Cross — Yea
Cultra — Yea
Eddy — Yea
Farnham — Yea
Flider — Yea
Flowers — Yea
Froehlich — Yea
Golar — Yea
Hamos — Yea
Hatcher — Yea
Holbrook — Yea
Lang — Nay
Madigan — Yea
May — Nay
Pihos — Nay
Gordon, Careen — Not Voting
Coladipietro — Nay
Cole — Nay
Connelly — Nay
Currie — Yea
D'Amico — Yea
Fortner — Nay
Fritchey — Nay
Jackson — Yea
Jakobsson — Yea
Kosel — Nay
Osmond — Nay
Osterman — Yea
Poe — Yea
Pritchard — Yea
Ramey — Nay
Reboletti — Yea
Reis — Yea
Riley — Yea
Ryg — Nay
Sacia — Yea
Saviano — Yea
Schmitz — Yea
Soto — Yea
Acevedo — Yea
Arroyo — Yea
Bassi — Nay
Beaubien — Nay
Beiser — Yea
Bellock — Yea
Mathias — Nay
Berrios — Yea
Biggins — Yea
Black — Yea
Boland — Yea
Bost — Yea
Brauer — Not Voting
Brosnahan — Yea
Burns — Yea
Mendoza — Yea
McAsey — Yea
Franks — Yea
Chapa LaVia — Yea
Anthony DeLuca Democrat Yea
Fred Crespo Democrat Yea
Jay Hoffman Democrat Yea
La Shawn K. Ford Democrat Yea
Lakesia Collins Democrat Yea
Mark L. Walker Democrat Yea
Nicholas K. Smith Democrat Yea
Patrick J. Joyce Democrat Yea
Robert "Bob" Rita Democrat Yea
Sara Feigenholtz Democrat Yea
William "Will" Davis Democrat Yea
Brad Stephens Republican Yea
Chapin Rose Republican Not Voting
Chris Miller Republican Yea
Jil Tracy Republican Nay

Official roll call →

Subjects

finance housing
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Frequently asked questions

What does HB 705 do?
Amends the Residential Real Property Disclosure Act. Provides that a predatory lending database program shall be established within Cook, Kane, and Will counties (instead of Cook County). Provides that the inception date of the program as it applies to Kane and Will counties shall be July 1, 2010. Effective immediately.
Who sponsors HB 705?
HB 705 is sponsored by Keith Farnham.
What is the current status of HB 705?
This bill died with 96th Regular Session. It reached “Passed House” 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 705?
Track HB 705 free on One Click Politics — get push/email alerts when it moves.

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