LENDING PRACTICES-TECH House SponsorsRep. Michael J. Madigan-Susana A Mendoza-Barbara Flynn Currie-Eddie Washington-Harry Osterman, Lisa M. Dugan, Daniel J. Burke, Mary E. Flowers, Milton Patterson, Kenneth Dunkin, Deborah L. Graham, Patricia Bailey, David E. Miller, Richard T. Bradley, Karen A. Yarbrough, Arthur L. Turner, Lovana Jones and William Davis Senate Sponsors(Sen. Martin A. Sandoval-Jacqueline Y. Collins-Miguel del Valle-James T. Meeks, Louis S. Viverito-Mattie Hunter and Kimberly A. Lightford) 7/21/2005HousePublic Act . . . . . . . . . 94-0280 765 ILCS 77/20 Amends the Residential Real Property Disclosure Act. Makes a technical change in a Section concerning completion and delivery of the seller's disclosure statement.House Amendment No. 1 Deletes reference to:765 ILCS 77/20Adds reference to:5 ILCS 140/7from Ch. 116, par. 207765 ILCS 77/70 new765 ILCS 77/72 new765 ILCS 77/74 new765 ILCS 77/76 new815 ILCS 505/2Zfrom Ch. 121 1/2, par. 262ZDeletes everything after the enacting clause. Amends the Residential Real Property Disclosure Act. Establishes a predatory lending database pilot program within certain zip code areas. Requires the Department of Financial and Professional Regulation to maintain and administer a predatory lending database based on information submitted by any broker, originator, credit counselor, and title insurance company or closing agent involved in a mortgage transaction on residential real property within the pilot program area. Sets forth required information to be submitted by those entities to the database and authorizes the Department to require additional information by rule. Based on information submitted to the Department by the originator, requires the Department to make a determination as to whether credit counseling is recommended to the borrower. Requires the Department to notify each borrower for which it recommends counseling of all HUD-certified counseling agencies located within the State and direct the borrower to interview with a counselor associated with one of those agencies. Requires the borrower to select an agency from the notice and to interview with a counselor associated with that agency within 10 days after receipt of the notice. Prohibits the borrower from waiving the recommended credit counseling. Requires the title insurance company or closing agent to record simultaneously with the mortgage a certificate of its compliance with database reporting requirements and, if it fails to do so, provides that the mortgage is not recordable. Requires a certificate of service upon the Department to be recorded simultaneously with any lis pendens recorded on the property and, if no certificate is recorded, provides that the lis pendens is not recordable and is of no force and effect. Provides that information provided to the database is confidential and exempt from disclosure under the Freedom of Information Act, with certain exceptions. Amends the Freedom of Information Act to make corresponding changes. Amends the Consumer Fraud and Deceptive Business Practices Act. Provides that any person that violates the predatory lending database provisions of the Residential Real Property Disclosure Act commits an unlawful practice within the meaning of the Consumer Fraud and Deceptive Business Practices Act. Contains other provisions.House Amendment No. 3 Changes the definition of "pilot program area" to expand the area included within that definition.State Mandates Fiscal Note (H-AM 1) (Dept. of Commerce & Econ Opportunity) Does not create a state mandate under the State Mandates Act.State Mandates Fiscal Note (H-AM 3) (Dept. of Commerce & Econ Opportunity) Does not create a state mandate under the State Mandates Act.Senate Floor Amendment No. 1 Changes the definition of "pilot program area" to all areas designated by the Department of Financial and Professional Regulation because of high foreclosure rates due to predatory lending practices. Deletes a requirement that a broker or originator provide each borrower with a notice disclosing the names of at least 3 lenders and comparing the rates and terms of those lenders. Provides that nothing in the predatory lending database provisions is intended to prevent a borrower from making his or her own decision as to whether to proceed with a transaction. Requires the Department to report to the Governor and to the General Assembly concerning its administration and the effectiveness of the pilot program not later than year after the Department designates the pilot program area and annually thereafter during the existence of the pilot program.Senate Floor Amendment No. 2 Limits the pilot program area to within Cook County. 2/28/2005HouseFiled with the Clerk by Rep. Michael J. Madigan 2/28/2005HouseChief Co-Sponsor Rep. Barbara Flynn Currie 2/28/2005HouseFirst Reading 2/28/2005HouseReferred to Rules Committee 3/1/2005HouseAssigned to Executive Committee 3/10/2005HouseDo Pass / Short Debate Executive Committee; 013-000-000 3/10/2005HousePlaced on Calendar 2nd Reading - Short Debate 4/8/2005HouseSecond Reading - Short Debate 4/8/2005HouseHeld on Calendar Order of Second Reading - Short Debate 4/15/2005HouseRule 19(a) / Re-referred to Rules Committee 5/3/2005HouseThird Reading/Final Action Deadline Extended-9(b) May 27, 2005 5/3/2005HouseApproved for Consideration Rules Committee; 005-000-000 5/3/2005HousePlaced on Calendar 2nd Reading - Short Debate 5/16/2005HouseHouse Amendment No. 1 Filed with Clerk by Rep. Barbara Flynn Currie 5/16/2005HouseHouse Amendment No. 1 Referred to Rules Committee 5/19/2005HouseHouse Amendment No. 1 Rules Refers to Consumer Protection Committee 5/19/2005HouseHouse Amendment No. 1 Recommends Be Adopted Consumer Protection Committee; 007-005-000 5/20/2005HouseAdded Chief Co-Sponsor Rep. Eddie Washington 5/20/2005HouseAdded Chief Co-Sponsor Rep. Susana A Mendoza 5/20/2005HouseAdded Co-Sponsor Rep. Lisa M. Dugan 5/20/2005HouseAdded Co-Sponsor Rep. Daniel J. Burke 5/20/2005HouseAdded Co-Sponsor Rep. Mary E. Flowers 5/20/2005HouseAdded Co-Sponsor Rep. Kenneth Dunkin 5/25/2005HouseFinal Action Deadline Extended-9(b) May 31, 2005 5/25/2005HouseHouse Amendment No. 2 Filed with Clerk by Rep. Barbara Flynn Currie 5/25/2005HouseHouse Amendment No. 2 Referred to Rules Committee 5/25/2005HouseHouse Amendment No. 2 Rules Refers to Consumer Protection Committee 5/25/2005HouseHouse Amendment No. 3 Filed with Clerk by Rep. Barbara Flynn Currie 5/25/2005HouseHouse Amendment No. 3 Referred to Rules Committee 5/25/2005HouseHouse Amendment No. 3 Rules Refers to Consumer Protection Committee 5/25/2005HouseHouse Amendment No. 3 Recommends Be Adopted Consumer Protection Committee; 007-002-000 5/26/2005HouseAdded Co-Sponsor Rep. Milton Patterson 5/26/2005HouseAdded Co-Sponsor Rep. Deborah L. Graham 5/26/2005HouseAdded Co-Sponsor Rep. Patricia Bailey 5/26/2005HouseAdded Chief Co-Sponsor Rep. Harry Osterman 5/26/2005HouseAdded Co-Sponsor Rep. David E. Miller 5/26/2005HouseAdded Co-Sponsor Rep. Richard T. Bradley 5/26/2005HouseAdded Co-Sponsor Rep. Karen A. Yarbrough 5/26/2005HouseAdded Co-Sponsor Rep. Arthur L. Turner 5/26/2005HouseAdded Co-Sponsor Rep. Lovana Jones 5/26/2005HouseSecond Reading - Short Debate 5/26/2005HouseHouse Amendment No. 1 Adopted by Voice Vote 5/26/2005HouseHouse Amendment No. 3 Adopted by Voice Vote 5/26/2005HousePlaced on Calendar Order of 3rd Reading - Short Debate 5/26/2005HouseThird Reading - Short Debate - Passed 063-051-002 5/26/2005HouseVerified 5/26/2005HouseHouse Amendment No. 2 Tabled Pursuant to Rule 40(a) 5/26/2005SenateArrive in Senate 5/26/2005SenatePlaced on Calendar Order of First Reading May 27, 2005 5/26/2005SenateChief Senate Sponsor Sen. Martin A. Sandoval 5/26/2005SenateState Mandates Fiscal Note Filed as amended by House Amendment No. 1, from the Illinois Department of Commerce and Economic Opportunity. 5/26/2005SenateState Mandates Fiscal Note Filed as amended by House Amendment No. 3, from the Illinois Department of Commerce and Economic Opportunity. 5/26/2005SenateFirst Reading 5/26/2005SenateReferred to Rules 5/27/2005SenateAdded as Alternate Chief Co-Sponsor Sen. Jacqueline Y. Collins 5/27/2005SenateAdded as Alternate Chief Co-Sponsor Sen. Mattie Hunter 5/27/2005SenateAdded as Alternate Chief Co-Sponsor Sen. Miguel del Valle 5/27/2005SenateAdded as Alternate Chief Co-Sponsor Sen. James T. Meeks 5/27/2005SenateAdded as Alternate Co-Sponsor Sen. Louis S. Viverito 5/28/2005SenateAssigned to Executive 5/28/2005SenateCommittee/3rd Reading Deadline Extended-Rule 2-10 Committee Deadline extended to May 31, 2005, Third Reading Deadline extended to December 31, 2005. 5/28/2005SenateMotion Filed Sen. Martin A. Sandoval; Waive the Posting Notice. 5/28/2005SenateVerified 5/28/2005SenateMotion Lost 029-028-000 5/28/2005SenateWaive Posting Notice 5/28/2005SenateDo Pass Executive; 007-005-001 5/28/2005SenatePlaced on Calendar Order of 2nd Reading May 29, 2005 5/28/2005SenateSecond Reading 5/28/2005SenatePlaced on Calendar Order of 3rd Reading May 29, 2005 5/28/2005SenateSponsor Removed Sen. Mattie Hunter 5/29/2005SenateSenate Floor Amendment No. 1 Filed with Secretary by Sen. Jacqueline Y. Collins 5/29/2005SenateSenate Floor Amendment No. 1 Referred to Rules 5/29/2005SenateSenate Floor Amendment No. 1 Rules Refers to Executive 5/29/2005SenateSenate Floor Amendment No. 1 Recommend Do Adopt Executive; 007-004-001 5/30/2005SenateSenate Floor Amendment No. 2 Filed with Secretary by Sen. Martin A. Sandoval 5/30/2005SenateSenate Floor Amendment No. 2 Referred to Rules 5/30/2005SenateSenate Floor Amendment No. 2 Be Approved for Consideration Rules 5/30/2005SenateRecalled to Second Reading 5/30/2005SenateSenate Floor Amendment No. 1 Adopted; Collins 5/30/2005SenateSenate Floor Amendment No. 2 Adopted; Sandoval 5/30/2005SenatePlaced on Calendar Order of 3rd Reading 5/30/2005SenateAdded as Alternate Chief Co-Sponsor Sen. Mattie Hunter 5/30/2005SenateThird Reading - Consideration Postponed 5/30/2005SenatePlaced on Calendar - Consideration Postponed May 31, 2005 5/31/2005SenateVerified 5/31/2005SenateThird Reading - Passed; 030-024-003 5/31/2005HouseArrived in House 5/31/2005HousePlaced on Calendar Order of Concurrence Senate Amendment(s) 1,2 5/31/2005HouseSenate Floor Amendment No. 1 Motion Filed Concur Rep. Michael J. Madigan 5/31/2005HouseSenate Floor Amendment No. 2 Motion Filed Concur Rep. Michael J. Madigan 5/31/2005HouseSenate Floor Amendment No. 1 Motion to Concur Referred to Rules Committee 5/31/2005HouseSenate Floor Amendment No. 2 Motion to Concur Referred to Rules Committee 5/31/2005HouseSenate Floor Amendment No. 1 Motion to Concur Recommends be Adopted Rules Committee; 003-001-000 5/31/2005HouseSenate Floor Amendment No. 2 Motion to Concur Recommends be Adopted Rules Committee; 003-001-000 5/31/2005HouseCo-Sponsor Rep. William Davis 5/31/2005HouseSenate Floor Amendment No. 1 House Concurs 066-048-000 5/31/2005HouseSenate Floor Amendment No. 2 House Concurs 066-048-000 5/31/2005SenateAdded as Alternate Co-Sponsor Sen. Kimberly A. Lightford 5/31/2005HousePassed Both Houses 6/8/2005HouseSent to the Governor 7/21/2005HouseGovernor Approved 7/21/2005HouseEffective Date January 1, 2006 7/21/2005HousePublic Act . . . . . . . . . 94-0280