765 ILCS 5/11.1 new
Amends the Conveyances Act. Provides that every mortgage or deed
of trust in the nature of mortgage relating to the financing of
residential real estate must include the name of the financial
institution providing the financing and the loan officer who signed
the document, the name of the residential mortgage licensee receiving
compensation relating to the financing and the name of the loan
originator who signed the mortgage loan application, and the name of
the real estate appraiser who provided the appraisal on which the
financing was based. Provides that the county recorder may not record
a mortgage if the required information is not provided. Provides that
failure to comply with the new requirements does not invalidate the
recording of the mortgage or trust deed or impair the rights of the
mortgagee or beneficiary of the trust deed.
HOUSE AMENDMENT NO. 1.
Deletes everything. Amends the Conveyances Act. Adds a
provision regarding recording of liens on residential real estate.
Contains only a caption.
FEB-05-2002 H FILED WITH CLERK
FEB-05-2002 H FIRST READING
FEB-05-2002 H REFERRED TO HOUSE RULES COMMITTEE RULES
FEB-06-2002 H ASSIGNED TO COMMITTEE FIN INSTIT
FEB-21-2002 H AMENDMENT NO. 01-FIN INSTIT H
FEB-21-2002 H ADOPTED
FEB-21-2002 H DO PASS AMENDED/SHORT DEBATE 017-000-000 HFIN
FEB-21-2002 H PLACED CALENDAR 2ND READING-SHORT DEBATE
MAR-22-2002 H SECOND READING-SHORT DEBATE
MAR-22-2002 H HELD ON CAL ORDER 2ND RDG - SHORT DEBATE
APR-05-2002 H RE-REFERRED TO RULES COMM/RULE 19(A) RULES HRUL
JAN-07-2003 H SESSION SINE DIE
END OF INQUIRY
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