The Illinois Association of Mortgage Professionals Is Growing
At our September 2014 breakfast meeting IAMP President Larry Bettag announced that the Illinois Association of Mortgage Professionals will become the Greater Midwest Lenders Association expanding our housing industry representation into Indiana, Iowa, Kansas, Michigan, Minnesota, Missouri, Nebraska, North Dakota, South Dakota, Ohio and Wisconsin.
President Bettag remarked that this new entity will concentrate on bringing a new voice for all housing professionals from the Midwest. The transition from the IAMP to the new GMLA is beginning but will formally launch in 2015. We are currently recruiting for people from all facets of the housing industry in all these states. If you are interested please follow the link below to let us know how to reach you if are interested in learning more about the new GMLA.
CLICK HERE TO FILL OUT CONTACT FORM
The CFPB has been busy putting out more reading material about the new TILA-RESPA rules & disclosures scheduled to take effect on August 15, 2015.
Another 98 pages of CFPB guidance have been published about the new integrated Loan Estimate and Closing Disclosure forms:
Click This To Download CFPB Guidance
Recordings of previous TILA-RESPA related webinars are available at the links below (to access the recordings, enter the email address you originally used to register for the event or complete the registration form if you have previously not registered):
Click Here to Listen To October 1, 2014 CFPB Webcast Recording
Click Here To Download Copy of October 1, 2014 CFPB Presentation Slides PDF for TILA-RESPA Integrated Disclosures
New APLD Requirements
8/26/14 UPDATE: House Bill 5685 has been signed into law by Governor Quinn on August 26, 2014. This bill clarifies requirements of the Anti-Predatory Lending Database.
HB5685 in part states that licensees will have 10 business days to complete data entry into the Anti-Predatory Lending Database from the date the application is signed by the applicant(s). We recommend reviewing the bill in detail.
To be clear the IAMP does not support the Anti-Predatory Database program operating in Cook, Will, Kane and Peoria counties. This program has cost Illinois taxpayers millions of dollars and no independent studies have been performed to prove the effectiveness of this program championed by House Speaker Madigan.
Click Here To View Illinois Legislative Page on HB5685
We have relocated our offices effective August 4, 2014. We are now located at 14540 John Humphrey Drive. Unit 1B, Orland Park, Illinois, 60462. Our 630-916-7720 telephone number remains the same and our fax also remains 630-396-3501. If you have any questions please contact Bob Perry direct at 630-256-8416.
Greater Midwest Lenders Association - 14540 John Humphrey Drive, Unit 1B, Orland Park, Illinois 60462
Office 630-916-7720 - Fax 630-396-3501