Illinois Compiled Statutes 205 Financial Regulation: Article I - General Provisions

• Illinois Residential Mortgage License Act of 1987. - 205 ILCS 635, Section 1-1
  This Act shall be known and may be cited as the "Residential Mortgage License Act of 1987". (Source: P.A. 85-735.)
• Illinois Residential Mortgage License Act of 1987. - 205 ILCS 635, Section 1-2
  Purpose of Act and Policy Statement. (a) The origination, funding, purchasing and brokering of residential mortgage loans and the type of entities involved in residential...
• Illinois Residential Mortgage License Act of 1987. - 205 ILCS 635, Section 1-3
  Necessity for License; Scope of Act. (a) No person, partnership, association, corporation or other entity shall engage in the business of brokering, funding, originating, servicing...
• Illinois Residential Mortgage License Act of 1987. - 205 ILCS 635, Section 1-4
  Definitions. (a) "Residential real property" or "residential real estate" shall mean any real property located in Illinois, upon which is constructed or intended to be...
• Illinois Residential Mortgage License Act of 1987. - 205 ILCS 635, Section 1-5
  Residential Mortgage Board. (a) Board composition, compensation. There is created the Residential Mortgage Board composed of 5 members appointed by the Commissioner of Banks and...

Last modified: February 18, 2015