Our IL Pledged Time Deposit Account Disclosure (Cx1014) is provided pursuant to 765 Ill. Comp. Stat Ann. 910/6 and Ill. Admin. Code tit. 38, § 1050.1110(f). We also created IL Pledged Time Deposit Account Disclosure- Example (Cx14180) to provide a sample version that can be disclosed early on in the loan process. Cx14180 is a copy of Cx1014, but it also contains the following header:
“THIS IS AN EXAMPLE OF THE ILLINOIS PLEDGED TIME DEPOSIT ACCOUNT DISCLOSURE DOCUMENT YOU WILL BE REQUIRED TO SIGN AT CLOSING AND IS NOT THE ACTUAL DOCUMENT.”
Upon further review, we determined that the print configuration of these two documents should match exactly, with the exception of the document package types. Consequently, we will be modifying the print configuration of Cx14180 to only print for purchase or construction loans for primary residences.
This change will be in effect on April 2, 2016. If you have any questions or concerns about this change, please contact Client Support at 1.800.497.3584.