TITLE 38: FINANCIAL INSTITUTIONS
CHAPTER II: DEPARTMENT OF FINANCIAL AND PROFESSIONAL REGULATION PART 1050 RESIDENTIAL MORTGAGE LICENSE ACT OF 1987 SECTION 1050.1315 AVOIDANCE OF COMMITMENT
Section 1050.1315 Avoidance of Commitment
If a residential mortgage loan applicant and the subject residential real estate meet a licensee's normal standards, the licensee shall not refuse to make a residential mortgage loan to the applicant in order to avoid complying with terms stated in written agreements between the licensee and borrower or in written disclosures required by this Part.
(Source: Amended at 29 Ill. Reg. 14808, effective September 26, 2005) |