Lou Lang
- Democratic
Primary
Amends the Residential Mortgage License Act of 1987. Provides that no licensee may make, provide, or arrange a mortgage loan with a prepayment penalty (rather than permitting prepayment penalties under specified conditions). Provides that prepayment penalties are prohibited in connection with the sale or destruction of a dwelling secured by a residential mortgage loan. Amends the High Risk Home Loan Act to provide that for any loan that is subject to the provisions of the Act and is not subject to the provisions of the Home Ownership and Equity Protection Act of 1994, no lender shall make a high risk home loan that includes a penalty provision (rather than permitting prepayment penalties under specified conditions). Amends the Interest Act. Deletes a provision providing that notwithstanding specified provisions, the lender, in the case of any nonexempt residential mortgage loan, shall have the right to include a prepayment penalty that meets specified criteria.
Public Act . . . . . . . . . 96-0936
Governor Approved
Effective Date March 21, 2011
Sent to the Governor
Added Co-Sponsor Rep. Sandra M. Pihos
Added Co-Sponsor Rep. John D'Amico
Added Co-Sponsor Rep. Maria Antonia Berrios
Added Co-Sponsor Rep. Luis Arroyo
Added Co-Sponsor Rep. Susana A. Mendoza
Added Co-Sponsor Rep. Edward J. Acevedo
Added Co-Sponsor Rep. Elizabeth Hernandez
Added Co-Sponsor Rep. Paul D. Froehlich
Added Co-Sponsor Rep. Cynthia Soto
Passed Both Houses
Senate Floor Amendment No. 4 House Concurs 108-001-001
Senate Floor Amendment No. 3 House Concurs 108-001-001
Senate Floor Amendment No. 2 House Concurs 108-001-001
Senate Committee Amendment No. 1 House Concurs 108-001-001
Added Co-Sponsor Rep. Eddie Lee Jackson, Sr.
Added Co-Sponsor Rep. Esther Golar
Added Co-Sponsor Rep. Robert F. Flider
Senate Floor Amendment No. 3 Motion to Concur Recommends Be Adopted Executive Committee; 010-000-000
Senate Floor Amendment No. 4 Motion to Concur Recommends Be Adopted Executive Committee; 010-000-000
Senate Floor Amendment No. 2 Motion to Concur Recommends Be Adopted Executive Committee; 010-000-000
Senate Committee Amendment No. 1 Motion to Concur Recommends Be Adopted Executive Committee; 010-000-000
Senate Floor Amendment No. 3 Motion to Concur Rules Referred to Executive Committee
Senate Floor Amendment No. 2 Motion to Concur Rules Referred to Executive Committee
Senate Committee Amendment No. 1 Motion to Concur Rules Referred to Executive Committee
Senate Floor Amendment No. 4 Motion to Concur Rules Referred to Executive Committee
Added Co-Sponsor Rep. Karen A. Yarbrough
Added Co-Sponsor Rep. Patricia R. Bellock
Added Co-Sponsor Rep. Camille Y Lilly
Added Co-Sponsor Rep. Marlow H. Colvin
Added Co-Sponsor Rep. Elaine Nekritz
Added Co-Sponsor Rep. Al Riley
Added Co-Sponsor Rep. Joseph M. Lyons
Senate Floor Amendment No. 4 Motion to Concur Referred to Rules Committee
Senate Floor Amendment No. 3 Motion to Concur Referred to Rules Committee
Senate Floor Amendment No. 2 Motion to Concur Referred to Rules Committee
Senate Committee Amendment No. 1 Motion to Concur Referred to Rules Committee
Senate Floor Amendment No. 4 Motion Filed Concur Rep. Lou Lang
Senate Floor Amendment No. 2 Motion Filed Concur Rep. Lou Lang
Senate Floor Amendment No. 3 Motion Filed Concur Rep. Lou Lang
Senate Committee Amendment No. 1 Motion Filed Concur Rep. Lou Lang
Added Chief Co-Sponsor Rep. Monique D. Davis
Added Co-Sponsor Rep. Kenneth Dunkin
Remove Chief Co-Sponsor Rep. Kenneth Dunkin
Senate Floor Amendment No. 2 Adopted; Lightford
Senate Floor Amendment No. 2 Recommend Do Adopt Financial Institutions; 010-000-000
Added as Alternate Chief Co-Sponsor Sen. Jacqueline Y. Collins
Added as Alternate Chief Co-Sponsor Sen. Heather Steans
Senate Floor Amendment No. 3 Filed with Secretary by Sen. Kimberly A. Lightford
Senate Floor Amendment No. 3 Referred to Assignments
Senate Floor Amendment No. 3 Assignments Refers to Executive
Senate Floor Amendment No. 4 Filed with Secretary by Sen. Kimberly A. Lightford
Senate Floor Amendment No. 4 Referred to Assignments
Senate Floor Amendment No. 3 Recommend Do Adopt Executive; 013-000-000
Senate Floor Amendment No. 4 Be Approved for Consideration Assignments
Added as Alternate Chief Co-Sponsor Sen. Dan Rutherford
Recalled to Second Reading
Senate Floor Amendment No. 3 Adopted; Lightford
Senate Floor Amendment No. 4 Adopted; Lightford
Placed on Calendar Order of 3rd Reading
Added as Alternate Chief Co-Sponsor Sen. Emil Jones, III
Added as Alternate Co-Sponsor Sen. Toi W. Hutchinson
Added as Alternate Co-Sponsor Sen. Mattie Hunter
Third Reading - Passed; 058-001-000
Arrived in House
Placed on Calendar Order of Concurrence Senate Amendment(s) 1, 2, 3, 4
Chief Sponsor Changed to Rep. Lou Lang
Senate Floor Amendment No. 2 Assignments Refers to Financial Institutions
Senate Floor Amendment No. 2 Referred to Assignments
Senate Floor Amendment No. 2 Filed with Secretary by Sen. Kimberly A. Lightford
Alternate Chief Sponsor Changed to Sen. Kimberly A. Lightford
Second Reading
Placed on Calendar Order of 3rd Reading May 3, 2010
Senate Committee Amendment No. 1 Filed with Secretary by Sen. John J. Cullerton
Placed on Calendar Order of 2nd Reading April 29, 2010
Do Pass as Amended Executive; 008-001-004
Senate Committee Amendment No. 1 Adopted
Senate Committee Amendment No. 1 Assignments Refers to Executive
Senate Committee Amendment No. 1 Referred to Assignments
Alternate Chief Sponsor Changed to Sen. John J. Cullerton
Rule 2-10 Committee Deadline Established As May 7, 2010
Re-assigned to Executive
Sponsor Removed Sen. Don Harmon
Rule 3-9(a) / Re-referred to Assignments
Held in Financial Institutions
Held in Financial Institutions
Alternate Chief Sponsor Changed to Sen. Ira I. Silverstein
Assigned to Financial Institutions
Arrive in Senate
Referred to Assignments
First Reading
Added as Alternate Chief Co-Sponsor Sen. Don Harmon
Chief Senate Sponsor Sen. John J. Cullerton
Placed on Calendar Order of First Reading
Third Reading - Standard Debate - Passed 065-049-001
Added Co-Sponsor Rep. Jehan A. Gordon
Added Co-Sponsor Rep. Annazette Collins
Added Co-Sponsor Rep. Deborah L. Graham
Added Chief Co-Sponsor Rep. Kenneth Dunkin
Added Co-Sponsor Rep. Patrick J. Verschoore
Added Chief Co-Sponsor Rep. Careen M. Gordon
Placed on Calendar Order of 3rd Reading - Standard Debate
Second Reading - Standard Debate
Added Co-Sponsor Rep. Emily McAsey
Placed on Calendar 2nd Reading - Standard Debate
Do Pass / Standard Debate Consumer Protection Committee; 008-006-000
Assigned to Consumer Protection Committee
Chief Co-Sponsor Rep. Keith Farnham
Referred to Rules Committee
First Reading
Chief Co-Sponsor Rep. Fred Crespo
Filed with the Clerk by Rep. Charles E. Jefferson
| Bill Text Versions | Format |
|---|---|
| Introduced | HTML |
| Engrossed | HTML |
| Enrolled | HTML |
| Document | Format |
|---|---|
| Public Act | |
| Senate Amendment 004 | |
| Senate Amendment 003 | |
| Senate Amendment 002 | |
| Senate Amendment 001 |
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