Illinois Administrative Code

Section 1050.2010 Third Party Review of High Risk Home Loans In the case of any high risk home loan, the borrower shall be afforded the opportunity to seek independent review by the Division of the loan terms, in order to determine affordability of the loan, when and if the Gener…

Section 1050.210 Fees a) Method of Payment of Fees The fees listed in this Section shall be payable to the Department, or to the Nationwide Mortgage Licensing System and Registry for transfer to the Department as approved by the Director. The Director may specify the form of paym…

Section 1050.2100 Mortgage Loan Originators; Applicability (Repealed) (Source: Repealed at 41 Ill. Reg. 12405, effective October 6, 2017)

Section 1050.2110 Application for Registration (Repealed) (Source: Repealed at 41 Ill. Reg. 12405, effective October 6, 2017)

Section 1050.2112 Evaluation of Applications (Repealed) (Source: Repealed at 41 Ill. Reg. 12405, effective October 6, 2017)

Section 1050.2115 Examination (Repealed) (Source: Repealed at 41 Ill. Reg. 12405, effective October 6, 2017)

Section 1050.2120 Continuing Education Requirements for Loan Originators (Repealed) (Source: Repealed at 41 Ill. Reg. 12405, effective October 6, 2017)

Section 1050.2125 Certificate of Registration Issuance (Repealed) (Source: Repealed at 41 Ill. Reg. 12405, effective October 6, 2017)

Section 1050.2130 Roster of Registered Loan Originators (Repealed) (Source: Repealed at 41 Ill. Reg. 12405, effective October 6, 2017)

Section 1050.2135 Pocket Card (Repealed) (Source: Repealed at 41 Ill. Reg. 12405, effective October 6, 2017)

Section 1050.2140 Certificate of Registration Renewal (Repealed) (Source: Repealed at 41 Ill. Reg. 12405, effective October 6, 2017)

Section 1050.2145 Certificate of Registration Transfer Application or Inactive Notice (Repealed) (Source: Repealed at 41 Ill. Reg. 12405, effective October 6, 2017)

Section 1050.2150 Inactive Registration Status; Reactivation (Repealed) (Source: Repealed at 41 Ill. Reg. 12405, effective October 6, 2017)

Section 1050.2155 Temporary Permits (Repealed) (Source: Repealed at 41 Ill. Reg. 12405, effective October 6, 2017)

Section 1050.2160 Confidential Information (Repealed) (Source: Repealed at 41 Ill. Reg. 12405, effective October 6, 2017)

Section 1050.2165 Averments (Repealed) (Source: Repealed at 41 Ill. Reg. 12405, effective October 6, 2017)

Section 1050.2170 Suspension or Revocation of Registration, Refusal to Renew, Fines (Repealed) (Source: Repealed at 41 Ill. Reg. 12405, effective October 6, 2017)

Section 1050.2175 Loan Originator Hearings; Fees and Costs (Repealed) (Source: Repealed at 41 Ill. Reg. 12405, effective October 6, 2017)

Section 1050.2180 Criminal Proceedings (Repealed) (Source: Repealed at 41 Ill. Reg. 12405, effective October 6, 2017)

Section 1050.2185 Violations of Tax Acts (Repealed) (Source: Repealed at 41 Ill. Reg. 12405, effective October 6, 2017)

Section 1050.2190 Disciplinary Action for Educational Loan Defaults (Repealed) (Source: Repealed at 41 Ill. Reg. 12405, effective October 6, 2017)

Section 1050.2195 Nonpayment of Child Support (Repealed) (Source: Repealed at 41 Ill. Reg. 12405, effective October 6, 2017) SUBPART S: PROVISIONAL REGISTRATION OF LOAN ORIGINATORS

Section 1050.220 License Fees (Repealed) (Source: Repealed at 29 Ill. Reg. 14808, effective September 26, 2005)

Section 1050.2200 Purpose (Repealed) (Source: Repealed at 41 Ill. Reg. 12405, effective October 6, 2017)

Section 1050.2210 Definitions (Repealed) (Source: Repealed at 41 Ill. Reg. 12405, effective October 6, 2017)

Section 1050.2220 Registration Required (Repealed) (Source: Repealed at 41 Ill. Reg. 12405, effective October 6, 2017)

Section 1050.2230 Exemptions (Repealed) (Source: Repealed at 41 Ill. Reg. 12405, effective October 6, 2017)

Section 1050.2240 Application for Provisional Certificate of Registration; Contents; Amendment (Repealed) (Source: Repealed at 41 Ill. Reg. 12405, effective October 6, 2017)

Section 1050.2250 Issuance of Provisional Certificate of Registration; Effective Date; Conditions (Repealed) (Source: Repealed at 41 Ill. Reg. 12405, effective October 6, 2017)

Section 1050.2260 Loan Origination Practices (Repealed) (Source: Repealed at 41 Ill. Reg. 12405, effective October 6, 2017)

Section 1050.2270 Enforcement (Repealed) (Source: Repealed at 41 Ill. Reg. 12405, effective October 6, 2017) SUBPART T: SHARED APPRECIATION AGREEMENTS

Section 1050.230 Amended License Fees − Corporate Changes (Repealed) (Source: Repealed at 29 Ill. Reg. 14808, effective September 26, 2005)

Section 1050.2300 Definitions "Actual change in value" means, with respect to each scenario included on the disclosure form found in Appendix C of this chapter, the average annual change in value for homes in the State of Illinois over the most recent number of years used in that…

Section 1050.2310 Required Disclosures a) Financing Agreements and Commitments 1) In addition to providing any other disclosures required by the Uniform Commercial Code [810 ILCS 5] or the Consumer Installment Loan Act [205 ILCS 670], a lender receiving an application for a share…

Section 1050.2320 Calculation of Property Value a) Means of Calculating the Property Value. 1) The lender shall use the estimated fair market value to determine the Starting Home Value of the property. 2) The lender shall use the same method for calculating the Starting Home Valu…

Section 1050.2330 Calculating Values in Appendix C of this Part a) Average Annual Change in Value for purposes of Section 1050.2310(f)(1) shall be the average annual change in value in Illinois over the prior 5 years based on the All-Transactions House Price Index as published by…

Section 1050.2340 Ability to Repay A lender offering a shared appreciation agreement is deemed to have given due regard to a borrower's ability to repay if disclosures are provided by the lender to the borrower in compliance with Section 1050.2310, provided that: a) The shared ap…

Section 1050.2350 Counseling a) Counselor Qualifications 1) Any individual providing counseling services related to shared appreciation agreements shall be a housing counselor providing counseling through a HUD-approved housing counseling agency under 12 C.F.R. Part 214. 2) The c…

Section 1050.240 Duplicate Original License Fees (Repealed) (Source: Repealed at 29 Ill. Reg. 14808, effective September 26, 2005)

Section 1050.245 Loan Originator Registration Application Fee (Repealed) (Source: Repealed at 29 Ill. Reg. 14808, effective September 26, 2005)

Section 1050.246 Loan Originator Registration Transfer Fee (Repealed) (Source: Repealed at 29 Ill. Reg. 14808, effective September 26, 2005)

Section 1050.247 Loan Originator Registration Reactivation Fee (Repealed) (Source: Repealed at 29 Ill. Reg. 14808, effective September 26, 2005)

Section 1050.248 Duplicate Loan Originator Certificate of Registration or Pocket Card Fee (Repealed) (Source: Repealed at 29 Ill. Reg. 14808, effective September 26, 2005)

Section 1050.250 Examination Fees (Repealed) (Source: Repealed at 29 Ill. Reg. 14808, effective September 26, 2005)

Section 1050.255 Direct Expenses of Out-of-State Examinations (Repealed) (Source: Repealed at 29 Ill. Reg. 14808, effective September 26, 2005)

Section 1050.260 Additional Full-Service Office Fees (Repealed) (Source: Repealed at 29 Ill. Reg. 14808, effective September 26, 2005)

Section 1050.270 Hearing Fees (Repealed) (Source: Repealed at 29 Ill. Reg. 14808, effective September 26, 2005)