--- title: "Document Updates: Illinois Mortgage Escrow Account Act (Cx1207 & Cx16095)" description: Join the First American network of trusted title agents with comprehensive tools and resources. --- - Solutions - [Overview](https://docutech.com/solutions/) - [Document Solutions](https://docutech.com/solutions/document-solutions) - [eClosing](https://docutech.com/solutions/eclosing/) - [Document Generation](https://docutech.com/solutions/document-generation) - [Fulfillment](https://docutech.com/solutions/solutions-fulfillment) - Resources - [Overview](https://docutech.com/resources/) - [Solution Briefs](https://docutech.com/resources/solution-briefs) - [Request a Demo](https://docutech.com/docutech-request-a-demo) - [Compliance](https://docutech.com/resources/compliance) - [Blog](https://blog.docutech.com) - Partners - [Overview](https://docutech.com/partners/) - About Us - [Overview](https://docutech.com/about-us/) - [Contact Us](https://docutech.com/about-us/contact-us) - Let's Talk - Solutions - [Overview](https://www.docutech.com/solutions?hsLang=en) - [Document Solutions](https://www.docutech.com/solutions/document-solutions?hsLang=en) - [eClosing](https://www.docutech.com/solutions/eclosing?hsLang=en) - [Document Generation](https://www.docutech.com/solutions/document-generation?hsLang=en) - [Fulfillment](https://www.docutech.com/solutions/solutions-fulfillment?hsLang=en) - Resources - [Overview](https://www.docutech.com/resources?hsLang=en) - [Solution Briefs](https://www.docutech.com/resources/solution-briefs?hsLang=en) - [Request a Demo](https://www.docutech.com/docutech-request-a-demo?hsLang=en) - [Compliance](https://www.docutech.com/resources/compliance?hsLang=en) - [Blog](https://blog.docutech.com/) - Partners - [Overview](https://www.docutech.com/partners?hsLang=en) - About Us - [Overview](https://www.docutech.com/about-us?hsLang=en) - [Contact Us](https://www.docutech.com/about-us/contact-us?hsLang=en) # Document Updates: Illinois Mortgage Escrow Account Act (Cx1207 & Cx16095) Dec 4, 2023 Topics: [Document Updates](https://compliance.docutech.com/tag/document-updates) On July 28, 2023, Governor JB Pritzker approved [**Illinois House Bill 2717**](https://www.ilga.gov/legislation/BillStatus.asp?DocNum=2717&GAID=17&DocTypeID=HB&SessionID=112&GA=103) which amends the Illinois Mortgage Escrow Account Act regarding notifications about terminating or continuing escrow accounts for higher-priced mortgage loans. Cx1207 “IL Mortgage Escrow Account Act” and Cx16095 “IL Mortgage Escrow Account Act” are provided pursuant to 765 ILCS 910/11 and 38 Ill. Adm. Code 1050.1110(f). Both documents print verbatim the Illinois Mortgage Escrow Account Act. As such, Cx1207 and Cx16095 have been updated to include the following amendment language to the Illinois Mortgage Escrow Account Act: - The original paragraph for Section 5 now appears as Section 5(a) - A new Section 5(b) has been added and reads: “Notwithstanding the requirements in subsection (a), a mortgage lender that complies with the escrow account requirements in Title 12 CFR Part 1026, as amended, for a mortgage loan that is a higher-priced mortgage loan, as defined in Title 12 CFR Part 1026, as amended, is deemed to be in compliance with subsection (a).” - A new sentence appears at the very end of Section 7 and reads: “The borrower shall not have the right to terminate any such arrangement under Section 5 in conjunction with a mortgage loan that is a higher-priced mortgage loan as defined in Title 12 CFR Part 1026, as amended, unless the borrower has met all of the conditions for cancellation of an escrow account for a higher-priced mortgage loan in Title 12 CFR Part 1026, as amended.” These changes are available for testing on Stage & Stage 2 servers and will take effect on December 12, 2023. If you have any questions or concerns about these changes, please contact Client Support at 1.800.497.3584. *LEG-1656* *DR-147377* ###### The preceding is for informational purposes only and is not and may not be construed as legal advice. No third party entity may rely upon anything contained herein when making legal and/or other determinations regarding its practices, and such third party should consult with an attorney prior to embarking upon any specific course of action. [Return to Blog](https://compliance.docutech.com) ### Stay informed. --- Subscribe to emails to get notified when new content is published. ### Category / Topics [Document Updates](https://compliance.docutech.com/tag/document-updates) ### Recent Posts #### [Document Updates: Washington Foreclosure Prevention Fee Disclosure (Cx28412)](https://compliance.docutech.com/document-updates-washington-foreclosure-prevention-fee-disclosure-cx28412-1) Dec 4, 2023 #### [Document Updates: New Nebraska Net Tangible Benefit Disclosure (Cx29105)](https://compliance.docutech.com/document-updates-new-nebraska-net-tangible-benefit-disclosure-cx29105) Dec 4, 2023 #### [Document Updates: Request for a Certificate of Eligibility for VA Home Loan Benefits (Cx26687)](https://compliance.docutech.com/document-updates-request-for-a-certificate-of-eligibility-for-va-home-loan-benefits-cx26687) Dec 4, 2023 The preceding is for informational purposes only and is not and may not be construed as legal advice. No third-party entity may rely upon anything contained herein when making legal and/or other determinations regarding its practices, and such third party should consult with an attorney prior to embarking upon any specific course of action. 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