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Article: Illinois Testing Loan Database.
- Article from:
- National Mortgage News
- Article date:
- June 9, 2008
- Author:
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SPRINGFIELD, IL -- The Illinois House bill that established an anti-predatory lending database and pilot program for residential mortgage loans in Cook County, Ill., is back, but slightly revised with new anti-predatory lending standards.
According to Nanci Weissgold, a partner with the Washington law firm K&L Gates, the controversial bill was in effect for only four short months in 2006 before the law was shelved.
"The revived version of the Cook County anti-predatory lending database law was signed by Gov. Rod Blagojevich on Nov. 2, 2007 and is scheduled to take effect on July 1, 2008," said Ms. Weissgold.
She said the Cook County redux ...