Article
Lending Procedures
- 205 ILCS 635/5-1— The Commissioner may promulgate rules with respect to brokering and lending procedures of residential mortgage licensees as necessary to accomplish the purposes of this Act
- 205 ILCS 635/5-5— (Repealed)
- 205 ILCS 635/5-5A— Violations of the Reverse Mortgage Act
- 205 ILCS 635/5-6— Verification of borrower's ability to repay
- 205 ILCS 635/5-7— Broker agency relationship
- 205 ILCS 635/5-8— Prepayment penalties
- 205 ILCS 635/5-8.5— Arrearage payments
- 205 ILCS 635/5-9— Notice of change in loan terms
- 205 ILCS 635/5-10— Comparable monthly payment quotes
- 205 ILCS 635/5-11— Requirement to provide borrower with a copy of all appraisals
- 205 ILCS 635/5-12— Disclosure of refinancing options
- 205 ILCS 635/5-12.5— Shared appreciation agreement consumer counseling and disclosures
- 205 ILCS 635/5-14— Prohibition on equity stripping and loan flipping
- 205 ILCS 635/5-15— Prohibition on financing certain insurance premiums
- 205 ILCS 635/5-16— Prohibition on encouraging default
- 205 ILCS 635/5-17— Severability