205 ILCS 635/5-12

Current through Public Act 103-1052
Section 205 ILCS 635/5-12 - Disclosure of Refinancing Options

If the subject of a future loan is discussed by a licensee making, providing, or arranging a mortgage loan, the licensee shall disclose the circumstances under which a new loan could be considered. Such disclosure shall clearly state that it is not a contract and that the licensee is not representing or promising that a new loan could or would be made at any time in the future.

205 ILCS 635/5-12

Added by P.A. 095-0691,§ 10, eff. 6/1/2008.