Illinois Administrative Code (Last Updated: March 27, 2024) |
TITLE38. FINANCIAL INSTITUTIONS |
PART1050. RESIDENTIAL MORTGAGE LICENSE ACT OF 1987 |
SUBPARTL. COMMITMENT AND CLOSING PRACTICES |
§1050.1350. Compliance with Other Laws
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Commitment and closing procedures, including those involving TILA-RESPA Intergrated Disclosures set forth at 12 CFR 1024 (2017) and 12 CFR 1026 (2017), of a licensee shall comply with applicable Federal and State statutes and regulations, including but not limited to the following:
a) The Interest Act [815 ILCS 205];
b) Mortgage Escrow Account Act [765 ILCS 910];
c) Consumer Fraud and Deceptive Business Practices Act [815 ILCS 505];
d) The Truth in Lending Act (15 USC 1601) as implemented by Regulation Z (12 CFR 1026) (2017));
e) The Real Estate Settlement Procedure Act of 1974 d (12 USC 2601) as implemented by Regulation X (12 CFR 1024) (2017).
(Source: Amended at 41 Ill. Reg. 12405, effective October 6, 2017)