(205 ILCS 635/Art. IV heading)
(205 ILCS 635/4-1) (from Ch. 17, par. 2324-1)
Sec. 4-1. Commissioner of Banks and Real Estate; functions, powers, and duties. The functions,
powers, and duties of the Commissioner of Banks and Real Estate shall include the following:
(205 ILCS 635/4-1.5)
Sec. 4-1.5. Residential Finance Regulatory Fund.
(a) The aggregate of all moneys collected by the Secretary under this Act shall be paid promptly after receipt of the same, accompanied by a detailed statement thereof, into the State treasury and shall be set apart in the Residential Finance Regulatory Fund, formerly designated the Savings and Residential Finance Regulatory Fund, a special fund created in the State treasury. The amounts deposited into the Fund shall be used for the ordinary and contingent expenses of the Department of Financial and Professional Regulation and the Division of Banking, or their successors, in administering and enforcing the Residential Mortgage License Act of 1987 and other laws, rules, and regulations as may apply to the administration and enforcement of the foregoing laws, rules, and regulations, as amended from time to time. Nothing in this Act shall prevent continuing the practice of paying expenses involving salaries, retirement, social security, and State paid insurance of State officers by appropriation from the General Revenue Fund.
(b) Moneys in the Residential Finance Regulatory Fund may be transferred to the Professions Indirect Cost Fund, as authorized under Section 2105-300 of the Department of Professional Regulation Law of the Civil Administrative Code of Illinois.
(c) All earnings received from investments of funds in the Residential Finance Regulatory Fund shall be deposited into that Fund and may be used for the same purposes as fees deposited into that Fund.
(Source: P.A. 98-1081, eff. 1-1-15.)
(205 ILCS 635/4-2) (from Ch. 17, par. 2324-2)
Sec. 4-2. Examination; prohibited activities.
(a) The business affairs of a licensee under this Act shall be examined
for compliance with this Act as often as the Secretary deems necessary and
proper. The Secretary shall promulgate rules with respect to the frequency
and manner of examination. The Secretary shall appoint a suitable person
to perform such
examination. The Secretary and his appointees may examine the
entire
books, records, documents, and operations of each licensee and its subsidiary, affiliate, or agent, and may examine
any of the licensee's or its subsidiary's, affiliate's, or agent's officers, directors, employees and agents under oath. For purposes of this Section, "agent" includes service providers such as accountants, closing services providers, providers of outsourced services such as call centers, marketing consultants, and loan processors, even if exempt from licensure under this Act. This Section does not apply to an attorney's privileged work product or communications.
(b) The Secretary shall prepare a
sufficiently
detailed
report of each
licensee's examination, shall issue a copy of such report to each
licensee's principals, officers, or directors and shall take appropriate
steps to ensure correction of violations of this Act.
(c) Affiliates of a licensee shall be subject to examination by the Secretary
on the same terms as the licensee, but only when reports
from, or examination of a licensee provides for documented evidence of
unlawful activity between a licensee and affiliate benefiting, affecting or
deriving from the activities regulated by this Act.
(d) The expenses of any examination of the licensee and affiliates shall
be borne by the licensee and assessed by the Secretary as established
by regulation.
(e) Upon completion of the examination, the Secretary shall issue a
report to the licensee. All confidential supervisory information, including the examination report
and the work papers
of the report, shall belong to the Secretary's office and may not be
disclosed to anyone other than the licensee, law enforcement officials or other
regulatory agencies that have an appropriate regulatory interest as determined by the Secretary, or to a party presenting a lawful subpoena to the Office of the Secretary. The Secretary may immediately appeal to the court of jurisdiction the disclosure of such confidential supervisory information and seek a stay of the subpoena pending the outcome of the appeal. Reports required of licensees by the Secretary under this Act
and results of examinations performed by the Secretary under this Act shall
be the property of only the Secretary, but may be shared with the licensee. Access under this
Act to the books and records of each licensee shall be limited to the Secretary
and his agents as provided in this Act and to the licensee and its
authorized agents and designees. No other person shall have access to the
books and records of a licensee under this Act. Any person upon whom a demand for production of confidential supervisory information is made, whether by subpoena, order, or other judicial or administrative process, must withhold production of the confidential supervisory information and must notify the Secretary of the demand, at which time the Secretary is authorized to intervene for the purpose of enforcing the limitations of this Section or seeking the withdrawal or termination of the attempt to compel production of the confidential supervisory information. The Secretary may impose any conditions and limitations on the disclosure of confidential supervisory information that are necessary to protect the confidentiality of such information. Except as authorized by the Secretary, no person obtaining access to confidential supervisory information may make a copy of the confidential supervisory information. The Secretary may condition a decision to disclose confidential supervisory information on entry of a protective order by the court or administrative tribunal presiding in the particular case or on a written agreement of confidentiality. In a case in which a protective order or agreement has already been entered between parties other than the Secretary, the Secretary may nevertheless condition approval for release of confidential supervisory information upon the inclusion of additional or amended provisions in the protective order. The Secretary may authorize a party who obtained the records for use in one case to provide them to another party in another case, subject to any conditions that the Secretary may impose on either or both parties. The requestor shall promptly notify other parties to a case of the release of confidential supervisory information obtained and, upon entry of a protective order, shall provide copies of confidential supervisory information to the other parties.
(f) The Secretary, deputy commissioners, and employees
of the Office of Banks and Real Estate shall be subject to the restrictions
provided in Section 2.5 of the Division of Banking Act including,
without limitation, the restrictions on (i) owning shares of stock or holding
any other equity interest in an entity regulated under this Act or in any
corporation or company that owns or controls an entity regulated under this
Act; (ii) being an officer, director, employee, or agent of an entity regulated
under this Act; and (iii) obtaining a loan or accepting a gratuity from an
entity regulated under this Act.
(g) After the initial examination for those licensees whose only mortgage
activity is servicing fewer than 1,000 Illinois residential loans,
the
examination required in subsection (a) may be waived upon submission of a
letter from the licensee's independent certified auditor that the licensee
serviced fewer than 1,000 Illinois residential loans during the
year
in which the
audit was performed.
(h) An exempt entity under subsection (a-1) of Section 1-3 of this Act shall cooperate with the Secretary in the examination and investigation of its sponsored and licensed mortgage loan originators at a frequency determined by the Secretary. The exempt entity under subsection (a-1) of Section 1-3 of this Act shall cooperate with the Secretary in providing mortgage loan originator documents and access to mortgage loan originator offices for the purposes of examination and investigation. The activities of the exempt entity shall not relieve a mortgage loan originator of his or her individual requirements under Section 7-15 of this Act. An exempt entity under subsection (a-1) of Section 1-3 of this Act shall pay to the Department any examination fees invoiced by the Secretary for examination of its sponsored mortgage loan originators. The Secretary shall have the authority to make oral or written inquiries regarding the management of an exempt entity under subsection (a-1) of Section 1-3 of this Act and it shall be the duty of the exempt entity to promptly reply by telephone, in writing, or other means to the inquiry.
(Source: P.A. 98-492, eff. 8-16-13.)
(205 ILCS 635/4-3) (from Ch. 17, par. 2324-3)
Sec. 4-3.
Subpoena power of the Commissioner.
(a) The Commissioner
shall have the power to issue and to serve subpoenas and subpoenas duces
tecum to compel the attendance of witnesses and the production of all
books, accounts, records and other documents and materials relevant to an
examination or investigation. The Commissioner or his or her duly
authorized representative, shall have power to administer oaths and
affirmations to any person.
(b) In the event of noncompliance with a subpoena or subpoena duces
tecum issued or caused to be issued by the Commissioner, the Commissioner
may petition the circuit court of the county in which the person subpoenaed
resides or has its principal place of business for an order requiring the
subpoenaed person to appear and testify and to produce such books,
accounts, records and other documents as are specified in the subpoena
duces tecum. The court may grant injunctive relief restraining the person
from advertising, promoting, soliciting, entering into, offering to enter
into, continuing, or completing any residential mortgage financing
transaction or residential mortgage servicing transaction. The court may
grant such other relief, including, but not limited to, the
restraint, by injunction or appointment of a receiver, of any transfer,
pledge, assignment or other disposition of the person's assets or any
concealment, alteration, destruction or other disposition of books,
accounts, records or other documents and materials as
the court deems appropriate, until the person has fully complied with the
subpoena or subpoena duces tecum and the Commissioner has completed an
investigation or examination.
(c) When it shall appear to the Commissioner that the compliance with a
subpoena or subpoena duces tecum issued or caused to be issued by the
Commissioner pursuant to this Section is essential to an investigation or
examination, the Commissioner, in addition to the other remedies provided
for herein, may apply for relief to the circuit court of the county in
which the subpoenaed person resides or has its principal place of business.
The court shall thereupon direct the issuance of an order against the
subpoenaed person requiring sufficient bond conditioned on compliance with
the subpoena or subpoena duces tecum. The court shall cause to be endorsed
on the order a suitable amount of bond or payment pursuant to which the
person named in the order shall be freed, having a due regard to the nature of the case.
(d) In addition, the Commissioner may seek a writ of attachment or an
equivalent order from the circuit court having jurisdiction over the person
who has refused to obey a subpoena, who has refused to give testimony or
who has refused to produce the matters described in the subpoena duces tecum.
(Source: P.A. 85-735.)
(205 ILCS 635/4-4) (from Ch. 17, par. 2324-4)
Sec. 4-4.
Report Required of Licensee; False Statements; Delay;
Penalties.(a) In addition to any reports required under this Act, every
licensee shall file such other reports as the Commissioner shall request.
(b) Any licensee or any officer, director, employee or agent of any
licensee who shall fail to file any reports required by this Act, including
those under subsection (a) above, or who shall deliberately, wilfully or
knowingly make, subscribe to or cause to be made any false entry with
intent to deceive the Commissioner or his or her appointees or who shall
purposely cause unreasonable delay in filing such reports, shall be guilty
of a Class 4 Felony.
(Source: P.A. 85-735.)
(205 ILCS 635/4-5) (from Ch. 17, par. 2324-5)
Sec. 4-5. Suspension, revocation of licenses; fines.
(a) Upon written notice to a licensee, the Commissioner may suspend
or revoke any license issued pursuant to this Act if he or she shall make a
finding of one or more of the following in the notice that:
(b) No license shall be suspended or revoked, except as provided in this
Section, nor shall any licensee be fined without notice of his or her right
to a hearing as provided in Section 4-12 of this Act.
(c) The Commissioner, on good cause shown that an emergency exists, may
suspend any license for a period not
exceeding 180 days, pending investigation. Upon a showing that a
licensee has failed to meet the experience or educational requirements of
Section 2-2 or the requirements of subsection (g) of Section 3-2, the
Commissioner shall suspend, prior to hearing as provided in Section 4-12, the
license until those requirements have been met.
(d) The provisions of subsection (e) of Section 2-6 of this Act
shall not affect a licensee's civil or criminal liability
for acts committed prior to surrender of a license.
(e) No revocation, suspension or surrender of any license shall impair
or affect the obligation of any pre-existing lawful contract between the
licensee and any person.
(f) Every license issued under this Act shall remain in force and effect
until the same shall have expired without renewal, have been surrendered,
revoked or suspended in accordance with the provisions of this Act, but the
Commissioner shall have authority to reinstate a suspended license or to
issue a new license to a licensee whose license shall have been revoked if
no fact or condition then exists which would have warranted the
Commissioner in refusing originally to issue such license under this Act.
(g) Whenever the Commissioner shall revoke or suspend a license issued
pursuant to this Act or fine a licensee under this Act, he or she shall
forthwith execute a written order to that effect. The
Commissioner shall post notice of the order on an agency Internet site maintained by the Commissioner or on the Nationwide Multistate Licensing System and Registry and shall forthwith serve a copy of such order upon the
licensee. Any such order may be reviewed in the manner provided by
Section 4-12 of this Act.
(h) When the Commissioner finds any person in violation of the grounds
set forth in subsection (i), he or she may enter an order imposing one or
more of the following penalties:
(i) The following acts shall constitute grounds for which the
disciplinary actions specified in subsection (h) above may be taken:
(j) A licensee shall be subject to the disciplinary actions specified in
this Act for violations of subsection (i) by any officer, director,
shareholder, joint venture, partner, ultimate equitable owner, or employee
of the licensee.
(k) Such licensee shall be subject to suspension or revocation for
unauthorized employee actions only if there is a pattern of repeated violations by
employees or the licensee has knowledge of the violations, or there is substantial harm to a consumer.
(l) Procedure for surrender of license:
(Source: P.A. 99-15, eff. 1-1-16; 100-1153, eff. 12-19-18.)
(205 ILCS 635/4-6) (from Ch. 17, par. 2324-6)
Sec. 4-6.
Investigation of Complaints.
The Commissioner shall at all times maintain staff and facilities
adequate to receive, record and investigate complaints and inquiries made by
any person concerning this Act and any licensees under this Act. Each
licensee shall open its books, records, documents and offices wherever
situated to the Commissioner or his or her appointees as needed to facilitate
such investigations.
(Source: P.A. 85-735.)
(205 ILCS 635/4-7)
Sec. 4-7. Additional investigation and examination authority. In addition to any authority allowed under this Act, the Director shall have the authority to conduct investigations and examinations as follows:
(a) For purposes of initial licensing, license renewal, license suspension, license conditioning, license revocation or termination, or general or specific inquiry or investigation to determine compliance with this Act, the Commissioner shall have the authority to access, receive, and use any books, accounts, records, files, documents, information, or evidence including, but not limited to, the following:
(b) For the purposes of investigating violations or complaints arising under this Act, or for the purposes of examination, the Commissioner may review, investigate, or examine any licensee, individual, or person subject to this Act, as often as necessary in order to carry out the purposes of this Act. The Commissioner may direct, subpoena, or order the attendance of and examine under oath all persons whose testimony may be required about the loans or the business or subject matter of any such examination or investigation, and may direct, subpoena, or order the person to produce books, accounts, records, files, and any other documents the Commissioner deems relevant to the inquiry.
(c) Each licensee, individual, or person subject to this Act shall make available to the Commissioner upon request the books and records relating to the operations of such licensee, individual, or person subject to this Act. The Commissioner shall have access to such books and records and interview the officers, principals, mortgage loan originators, employees, independent contractors, agents, and customers of the licensee, individual, or person subject to this Act concerning their business.
(d) Each licensee, individual, or person subject to this Act shall make or compile reports or prepare other information as directed by the Commissioner in order to carry out the purposes of this Section including, but not limited to:
(e) In making any examination or investigation authorized by this Act, the Commissioner may control access to any documents and records of the licensee or person under examination or investigation. The Commissioner may take possession of the documents and records or place a person in exclusive charge of the documents and records in the place where they are usually kept. During the period of control, no individual or person shall remove or attempt to remove any of the documents and records except pursuant to a court order or with the consent of the Commissioner. Unless the Commissioner has reasonable grounds to believe the documents or records of the licensee have been, or are at risk of being altered or destroyed for purposes of concealing a violation of this Act, the licensee or owner of the documents and records shall have access to the documents or records as necessary to conduct its ordinary business affairs.
(f) In order to carry out the purposes of this Section, the Commissioner may:
(g) The authority of this Section shall remain in effect, whether such a licensee, individual, or person subject to this Act acts or claims to act under any licensing or registration law of this State, or claims to act without the authority.
(h) No licensee, individual, or person subject to investigation or examination under this Section may knowingly withhold, abstract, remove, mutilate, destroy, or secrete any books, records, computer records, or other information.
(Source: P.A. 96-112, eff. 7-31-09; 97-1150, eff. 1-25-13.)
(205 ILCS 635/4-8) (from Ch. 17, par. 2324-8)
Sec. 4-8. Delinquency; examination.
(a) (Blank).
(b) The Secretary shall conduct as part of an examination of each licensee a review of the licensee's loan delinquency data.
This subsection shall not be construed as a limitation
of the Secretary's examination authority under Section 4-2 of this Act or as
otherwise provided in this Act.
The Secretary may require a licensee to provide loan delinquency
data as the Secretary deems necessary for the proper enforcement
of the Act.
(c) The purpose of the examination under subsection (b) shall be
to determine whether the loan delinquency data of the
licensee has resulted from practices which deviate from
sound and accepted mortgage underwriting practices, including, but not
limited to, credit fraud, appraisal fraud, and property inspection fraud.
For the purpose of conducting this examination, the Secretary may accept
materials prepared for the U.S. Department of Housing and Urban Development.
(d) The Secretary, at his or her discretion, may hold public
hearings. Such testimony shall be by a homeowner or mortgagor or his
agent, whose residential interest is affected by the activities of the
residential mortgage licensee subject to such hearing.
At such public hearing, a witness may present testimony on his or her behalf
concerning only his or her home or home mortgage, or a witness may authorize a
third party to appear on his or her behalf. The testimony shall be
restricted to information and comments related to a specific residence or
specific residential mortgage application or applications for a residential
mortgage or residential loan transaction. The testimony must be preceded
by either a letter of complaint or a completed consumer complaint form
prescribed by the Secretary.
(e) The Secretary shall, at the conclusion of the public hearings,
release his or her findings and shall also make public any action taken
with respect to the licensee. The Secretary shall also give full
consideration to the findings of this examination whenever reapplication is
made by the licensee for a new license under this Act.
(f) A licensee that is examined pursuant to subsection (b)
shall submit to the Secretary a plan which shall be designed to reduce that
licensee's loan delinquencies. The plan shall be implemented by the
licensee as approved by the Secretary. A licensee that is
examined pursuant to subsection (b) shall report monthly,
for a one year period, one, 2, and 3 month loan delinquencies.
(g) Whenever the Secretary finds that a licensee's loan delinquencies
on insured mortgages is unusually high within a particular
geographic area, he or she shall require that licensee to submit such
information as is necessary to determine whether that licensee's practices
have constituted credit fraud, appraisal fraud or property inspection
fraud. The Secretary shall promulgate such rules as are necessary to
determine whether any licensee's loan delinquencies are
unusually high within a particular area.
(Source: P.A. 100-783, eff. 8-10-18; 100-1153, eff. 12-19-18; 101-81, eff. 7-12-19.)
(205 ILCS 635/4-8.1)
Sec. 4-8.1.
Confidential information.
In hearings conducted under this Act,
information presented into evidence that was acquired by the licensee when
serving any
individual in connection with a residential mortgage, including all financial
information of the individual, shall be deemed strictly confidential and shall
be made available only as part of the record of a hearing under this Act or
otherwise (i) when the record is required, in its entirety, for purposes of
judicial review or (ii) upon the express written consent of the
individual served, or in the case of his or her death or disability, the
consent of his or her personal representative.
(Source: P.A. 93-561, eff. 1-1-04.)
(205 ILCS 635/4-8.1A)
Sec. 4-8.1A. Confidentiality.
(a) In order to promote more effective regulation and reduce regulatory burden through supervisory information sharing, except as otherwise provided in federal Public Law 110-289, Section 1512, the requirements under any federal law or state law regarding the privacy or confidentiality of any information or material provided to the Nationwide Multistate Licensing System and Registry, and any privilege arising under federal or state law, including the rules of any federal or state court, with respect to such information or material, shall continue to apply to information or material after the information or material has been disclosed to the Nationwide Multistate Licensing System and Registry. The information and material may be shared with all state and federal regulatory officials with mortgage industry oversight authority without the loss of privilege or the loss of confidentiality protections provided by federal law or state law.
(b) In order to promote more effective regulation and reduce regulatory burden through supervisory information sharing, the Director is authorized to enter agreements or sharing arrangements with other governmental agencies, the Conference of State Bank Supervisors, the American Association of Residential Mortgage Regulators or other associations representing governmental agencies as established by rule, regulation or order of the Director. The sharing of confidential supervisory information or any information or material described in subsection (a) of this Section pursuant to an agreement or sharing arrangement shall not result in the loss of privilege or the loss of confidentiality protections provided by federal law or state law.
(c) In order to promote more effective regulation and reduce regulatory burden through supervisory information sharing, information or material that is subject to a privilege or confidentiality under subsection (a) of this Section shall not be subject to the following:
(d) In order to promote more effective regulation and reduce regulatory burden through supervisory information sharing, other law relating to the disclosure of confidential supervisory information or any information or material described in subsection (a) of this Section that is inconsistent with subsection (a) of this Section shall be superseded by the requirements of this Section to the extent the other law provides less confidentiality or a weaker privilege.
(e) In order to promote more effective regulation and reduce regulatory burden through supervisory information sharing, this Section shall not apply to the employment history of a mortgage loan originator, and the record of publicly adjudicated disciplinary and enforcement actions against a mortgage loan originator.
(Source: P.A. 100-1153, eff. 12-19-18.)
(205 ILCS 635/4-8.2)
Sec. 4-8.2. Reports of violations. Any person licensed under this Act or
any other person may report to the Commissioner any information to show that a
person subject to this Act is or may be in violation of this Act. A licensee who files a report with the Department of Financial and Professional Regulation that another licensee is engaged in one or more violations pursuant to this Act shall not be the subject of disciplinary action by the Department, unless the Department determines, by a preponderance of the evidence available to the Department, that the reporting person knowingly and willingly participated in the violation that was reported.
(Source: P.A. 97-891, eff. 8-3-12.)
(205 ILCS 635/4-8.3)
Sec. 4-8.3. Annual report. On or before March 1 of each year or the date selected for Mortgage Call Reports under Section 4-9.1 of this Act, each licensee shall file a report with the Secretary that discloses such information as the Secretary requires. A licensee filing a Mortgage Call Report is not required to file an annual report. Exempt entities as defined in subsection (d) of Section 1-4 shall not file the annual report of mortgage and servicing activity required by this Section.
(Source: P.A. 100-1153, eff. 12-19-18.)
(205 ILCS 635/4-9) (from Ch. 17, par. 2324-9)
Sec. 4-9.
(Repealed).
(Source: P.A. 89-355, eff. 8-17-95. Repealed by 90-301, eff. 8-1-97.)
(205 ILCS 635/4-9.1)
Sec. 4-9.1. Mortgage call reports. Each residential mortgage licensee shall submit to the Nationwide Multistate Licensing System and Registry reports of condition, which shall be in the form and shall contain the information that the Nationwide Multistate Licensing System and Registry may require.
(Source: P.A. 100-1153, eff. 12-19-18.)
(205 ILCS 635/4-10) (from Ch. 17, par. 2324-10)
Sec. 4-10. Rules and regulations of the Commissioner.
(a) In addition to such powers as may be prescribed by this Act, the
Commissioner is hereby authorized and empowered to promulgate regulations
consistent with the purposes of this Act, including, but not limited to:
(b) The Commissioner is hereby authorized and empowered to make such
specific rulings, demands, and findings as he or she may deem necessary for the
proper conduct of the mortgage lending industry.
(c) A person or entity may make a written application to the Department for a written interpretation of this Act. The Department may then, in its sole discretion, choose to issue a written interpretation. To be valid, a written interpretation must be signed by the Secretary, or his or her designated Director of Financial and Professional Regulation, and the Department's General Counsel. A written interpretation expires 2 years after the date that it was issued.
(d) No provision in this Act that imposes liability or establishes violations shall apply to any act taken by a person or entity in conformity with a written interpretation of this Act that is in effect at the time the act is taken, notwithstanding whether the written interpretation is later amended, rescinded, or determined by judicial or other authority to be invalid for any reason.
(Source: P.A. 100-863, eff. 8-14-18.)
(205 ILCS 635/4-11) (from Ch. 17, par. 2324-11)
Sec. 4-11. Costs of Supervision; Examination and Investigative Fees.
The expenses of administering this Act, including investigations and
examinations provided for in this Act shall be borne by and assessed
against entities regulated by this Act. Subject to the limitations set forth in Section 2-2 of this Act, the Secretary shall establish
fees by regulation in at least the following categories:
(1) application fees;
(2) investigation of license applicant fees;
(3) examination fees;
(4) contingent fees;
and such other categories as may be required to administer this Act.
(Source: P.A. 95-1047, eff. 4-6-09.)
(205 ILCS 635/4-12) (from Ch. 17, par. 2324-12)
Sec. 4-12.
Appeal and Review.
(a) Any person or entity affected by a
decision of the Commissioner under any provision of this Act may obtain
review of such decision within the Office of the Commissioner.
(b) The Commissioner shall, in accordance with the "Illinois
Administrative Procedure Act", promulgate rules and regulations to provide
for review within the Office of the Commissioner (hereinafter referred to
as "agency review") of his or her decisions affecting the rights of entities
under this Act. Such review shall provide for, at a minimum:
(1) appointment of a hearing officer other than a regular employee of
the Office of the Commissioner;
(2) appropriate procedural rules, specific deadlines for filings, and
standards of evidence and of proof;
(3) provision for apportioning costs among parties to the appeal.
(c) All final agency determinations of appeals to decisions of the
Commissioner may be reviewed in accordance with and under the provisions
of the "Administrative Review Law". Appeals from all final orders and
judgments entered by a court in review of any final administrative decision
of the Commissioner or of any final agency review of a decision of the
Commissioner may be taken as in other civil cases.
(Source: P.A. 85-735.)
(205 ILCS 635/4-13) (from Ch. 17, par. 2324-13)
Sec. 4-13.
Violations of this Act; Commissioner's Orders.
If the
Commissioner finds, as the result of examination, investigation or review
of reports submitted by a licensee that the business and affairs of a
licensee are not being conducted in accordance with this Act, the
Commissioner shall notify the licensee of the correction necessary. Should
a licensee fail to correct such violations, the Commissioner shall issue an
order requiring immediate correction and compliance with this Act,
specifying a reasonable date for performance.
The Commissioner shall promulgate rules and regulations to provide for an
orderly and timely appeal of all orders within the Office of the Commissioner.
Such rules shall include provision for assessment of fees and costs.
(Source: P.A. 85-735.)
(205 ILCS 635/4-14) (from Ch. 17, par. 2324-14)
Sec. 4-14.
Collection of fees.
Unless exempt from licensure under
this Act, no person engaged in or offering to engage in any act or service,
for which a license under this Act is required, may bring or maintain any
action in any court of this State to collect compensation
for the performance of the licensable services without alleging and proving
that he or she was the holder of a valid Residential Mortgage License under
this Act at all times during the performance of those services.
(Source: P.A. 87-642.)
(205 ILCS 635/4-15)
Sec. 4-15. Enforcement and reporting provisions. The Attorney General may enforce any violation of Section 5-6, 5-7, 5-8, 5-9, 5-10, 5-11, 5-12, 5-14, or 5-15 of this Act as an unlawful practice under the Consumer Fraud and Deceptive Business Practices Act.
(Source: P.A. 95-691, eff. 6-1-08.)
(205 ILCS 635/4-16)
Sec. 4-16. Private right of action. A borrower injured by a violation of the standards, duties, prohibitions, or requirements of Sections 5-6, 5-7, 5-8, 5-9, 5-10, 5-11, 5-12, 5-14, 5-15, and 5-16 of this Act shall have a private right of action.
(a) A licensee is not liable for a violation of this Act if:
(b) The remedies and rights provided for in this Act are not exclusive, but cumulative, and all other applicable claims are specifically preserved.
(Source: P.A. 95-691, eff. 6-1-08.)
Structure Illinois Compiled Statutes