Ill. Admin. Code tit. 38 § 1050.630

Current through Register Vol. 48, No. 50, December 13, 2024

Section 1050.630 - Annual Report of Mortgage Activity

a) Each licensee shall report the number and aggregate dollar amount of application for, and the number granted and the aggregate dollar amount of, loans pursuant to Section 4-8.3 of the Act. This report shall be categorized by: residential mortgage loans; construction loans; and home improvement and rehabilitation loans. The reporting shall be made by census tract. If the U.S. Department of Commerce Census Bureau has not assigned census tracts, the reporting shall be by zip code.

b) Each licensee shall report the information regarding residential mortgage loans pursuant to Section 4-8.3 of the Act by census tract. If the U.S. Department of Commerce Census Bureau has not assigned census tracts, then reporting shall be by zip code. In addition to the information required to be reported under Section 4-8.3 of the Act, each licensee shall furnish the name of any loan broker who has had any connection with such loans.

c) Service corporations of savings and loan associations and subsidiaries or affiliates of certain banks and foreign banking corporations exempted from licensing at Section 1-4(d)(1)(viii) and (ix) of the Act (except those that only service or only broker loans), are required to file Annual Reports of Mortgage Activity as though they are licensees. They shall so file on forms prescribed by and obtained from the Director. In lieu of the information required by subsection (a), the service corporations of savings and loan associations may submit Federal Home Loan Bank Board (FHLBB) Form 1154-0 "Loan Application Register of Mortgage Loans".

Ill. Admin. Code tit. 38, § 1050.630

Amended at 29 Ill. Reg. 19187, effective November 10, 2005