For the last several years, the City of Chicago has rapidly expanded the scope of regulations on lenders and mortgage servicers doing business in the City. If recent developments are any indication, the City Council’s...more
Recently, in a rare display of bipartisanship, the Illinois House and Senate passed—almost unanimously—an amendment to the Illinois Residential Mortgage License Act, 205 ILCS 635/1-1 et al. (IRMLA). On July 23, 2015, Governor...more
On March 25, 2015, the Conference of State Bank Supervisors (CSBS) and the American Association of Residential Mortgage Regulators (AARMR) proposed a slew of new prudential regulations at the state level specific to non-bank...more