Do you originate loans in the state of Illinois? You are probably aware of the four counties that require loans to be registered with the IL Anti-Predatory Lending Database.
Have you run into any of these problems?
- A loan officer didn’t register a loan properly
- A loan could not be sold to an investor
- A loan was never registered or was registered improperly
- A borrower wasn’t informed about their required home ownership counseling?
- A closing agent either pulled an exemption certificate or asked your team for a compliance certificate when it wasn’t required.
Relieve some of the head aches and ensure your loans are compliant with this regulation. LoanSiren will help you manage your pipeline to comply with the IL APLD regulations.
Please leave a comment or send an email to mark.squires@ramp51.com if you have any questions or would be interested in seeing a demo.