Compliance News: Illinois Repeals High Risk Home Loans Regulations
Pursuant to Executive Order # 2016-13, issued by Gov. Bruce Rauner (R-IL) (https://www2.illinois.gov/Pages/government/execorders/2016_13.aspx), the Illinois Department of Financial Institutions has repealed several parts of Ill. Admin. Code title 38, including the following:
- Reverse Mortgage Loans (Part 300)
- High Risk Home Loans (Part 345)
- Predatory Lending Database (Part 346)
See 41 Ill….