Illinois Compiled Statutes 205 Financial Regulation: Article II - Licensing Procedure

• Illinois Residential Mortgage License Act of 1987. - 205 ILCS 635, Section 2-1
  Licensee Name. (a) No person, partnership, association, corporation, limited liability company, or other entity engaged in the business regulated by this Act shall operate...
• Illinois Residential Mortgage License Act of 1987. - 205 ILCS 635, Section 2-2
  Application process; investigation; fee. (a) The Secretary shall issue a license upon completion of all of the following: (1) The filing of an application for...
• Illinois Residential Mortgage License Act of 1987. - 205 ILCS 635, Section 2-3
  Application form. (a) Application for a residential mortgage license must be made in accordance with Section 2-6 and, if applicable, in accordance with requirements of...
• Illinois Residential Mortgage License Act of 1987. - 205 ILCS 635, Section 2-3A
  Residential mortgage license application and issuance. (a) Applicants for a license shall apply in a form prescribed by the Director. Each form shall contain content...
• Illinois Residential Mortgage License Act of 1987. - 205 ILCS 635, Section 2-4
  Averments of Licensee. Each application for license shall be accompanied by the following averments stating that the applicant: (a) Will maintain at least one full...
• Illinois Residential Mortgage License Act of 1987. - 205 ILCS 635, Section 2-5
  Refusal to Issue License. The Commissioner shall refuse to license or renew a license if: (1) it is determined that the applicant is not...
• Illinois Residential Mortgage License Act of 1987. - 205 ILCS 635, Section 2-6
  License issuance and renewal; fee. (a) Beginning July 1, 2003, licenses shall be renewed every year on the anniversary of the date of issuance of...
• Illinois Residential Mortgage License Act of 1987. - 205 ILCS 635, Section 2-7
  Waiver of licensing fee. The Commissioner may waive the licensing fee upon receipt of: (a) an application for a residential mortgage license in Illinois,...
• Illinois Residential Mortgage License Act of 1987. - 205 ILCS 635, Section 2-8
  Additional Full-service Offices. (a) A licensee may apply for authority to open and maintain additional full-service offices by: (1) Giving the Commissioner prior notice...
• Illinois Residential Mortgage License Act of 1987. - 205 ILCS 635, Section 2-9
  Posting of license. The license of a licensee whose home office is within the State of Illinois or of an out-of-state licensee shall be...
• Illinois Residential Mortgage License Act of 1987. - 205 ILCS 635, Section 2-11
  Miscellaneous fees. In addition to any license fee collected under this Act, the Commissioner shall by rule and regulation establish a schedule to apply...

Last modified: February 18, 2015