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Sen. Iris Y. Martinez
Filed: 10/10/2007
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09500HB2973sam002 |
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LRB095 06413 KBJ 39810 a |
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| AMENDMENT TO HOUSE BILL 2973
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| AMENDMENT NO. ______. Amend House Bill 2973 by replacing |
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| everything after the enacting clause with the following:
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| "Section 5. The Title Insurance Act is amended by adding |
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| Section 24.6 as follows:
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| (215 ILCS 155/24.6 new) |
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| Sec. 24.6. Named parties on transactions. For each |
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| residential mortgage loan transaction in which a title |
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| insurance company, title insurance agent, or independent |
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| escrowee engages in title insurance business, the title |
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| insurance company, title insurance agent, or independent |
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| escrowee engaging in such business shall file with the |
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| Secretary, on a form prescribed by the Secretary, the names and |
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| license or registration numbers, if applicable, of each |
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| financial institution, residential mortgage licensee, loan |
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| originator, real estate appraiser, real estate licensee, and |