Does your lender pass the test?
Published December 18th, 2005 in Finance, LegislationThe state of Illinois requires both mortgage brokerages and its individual employees to be licensed and registered with the state to prevent predatory lending. The state has also enacted strict laws prohibiting abusive lending practices. You can check the registration status of your mortgage broker by checking a web site run by the Illinois Department of Financial and Professional Regulation at www.obrelookupclear.state.il.us.