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815 ILCS 137/ – High Risk Home Loan Act | Midpage
Collections
Illinois Compiled Statutes
Business and Employment
Chapter 815
137
815 ILCS 137/
High Risk Home Loan Act
1
Short title
10
Definitions
100
Counseling prior to perfecting foreclosure proceedings
105
Right to cure
110
Mortgage Awareness Program
115
Report of default and foreclosure rates on conventional loans
120
Review and analysis
125
Third party review of high risk home loans
130
Circumstances voiding mandatory arbitration provisions
135
Remedies, enforcement, and limitations of liability
145
Subterfuge prohibited
15
Ability to repay
150
Preemption of administrative rules
153
Reporting of violations
155
Rulemaking
160
Judicial review
165
Waiver prohibited
170
Superiority of Act
175
Severability
20
Verification of ability to repay loan
25
Good faith dealings; fraudulent or deceptive practices
30
No prepayment penalty
35.5
No balloon payments
35
Bona fide discount points
40
Pre-paid insurance products and warranties
45
Refinancing prohibited in certain cases
5
Purpose and construction
55
Financing of points and fees
60
Payments to contractors
65
Negative amortization
70
Negative equity
80.5
Coordination with subsequent late fees
80.6
Failure to make installment payment
80
Late payment fee
800
815 Ilcs 137/800
805
815 Ilcs 137/805
810
815 Ilcs 137/810
815
815 Ilcs 137/815
820
815 Ilcs 137/820
825
815 Ilcs 137/825
830
815 Ilcs 137/830
835
815 Ilcs 137/835
840
815 Ilcs 137/840
845
815 Ilcs 137/845
85
Payment compounding
90.5
Modification and deferral fees prohibited
90
Call provision
900
Severability
95
Disclosure prior to making a high risk home loan