Licensed professionals in the real estate mortgage field are invited to learn more about new federal rules aimed at improving consumer understanding of the home closing process. The Illinois Department of Financial and Professional Regulation is hosting an informational panel on the TILA-RESPA Integrated Disclosure (TRID) to assist real estate brokers, lawyers, lenders and title insurers better understand the new compliance requirements.
Secretary Bryan A. Schneider with the Illinois Department of Financial and Professional Regulation (IDFPR) today announced that its Division of Financial Institutions is now utilizing the National Mortgage Licensing System (NMLS) to manage licenses that fall under the Transmitters of Money Act (TOMA), Payday Loan Reform Act (PLRA), Sales Finance Agency Act (SFA) and the Consumer Finance Installment Act (CILA).
The Illinois Department of Financial and Professional Regulation -(IDFPR) announced today that the Directors of Banking, Kerri A. Doll; Financial Institutions, Francisco Menchaca; Professional Regulation, Jay Stewart; and Real Estate, Kreg Allison signed the following enforcement orders in the month of June 2016.
The Conference of State Bank Supervisors (CSBS) recently announced the appointment of Leon J. Holschbach, Vice Chairman and Chief Executive Officer of Midland States Bank, to the Bankers Advisory Board (BAB). The BAB serves to advise and assist the CSBS Board of Directors from the perspective and experience of state-chartered banking institutions in pursuit of the organization’s goals and to provide industry input on appropriate areas of CSBS activities. Holschbach’s two-year term expires in May of 2018. The BAB’s next meeting will take place on September 12th in Forth Worth, Texas.
"House Resolution 2121, currently before the US Senate, creates a positive economic impact on Illinois' mortgage industry, removing barriers to employment for experienced loan originators as they work to fulfill requisite SAFE ACT education and testing," said Bryan A. Schneider, Illinois Department of Financial and Professional Regulation Secretary.