815 ILCS 137/55

Current through Public Act 103-1052

Section 815 ILCS 137/55 - Financing of points and fees

No lender shall transfer, deal in, offer, or make a high risk home loan that finances, directly or indirectly, any points and fees. No lender shall transfer, deal in, offer, or make a high risk home loan that finances any prepayment fee or penalty payable by the consumer in a refinancing transaction if the creditor or an affiliate of the creditor is the noteholder of the note being refinanced.

815 ILCS 137/55

Amended by P.A. 097-0849,§ 15, effective 1/10/2014 (see Section 10 of P.A. 97-1159, 78 Fed. Reg. 6855, 6857, 78 Fed. Reg. 10695, 10696, and 78 Fed. Reg. 44685, 44686).

Added by P.A. 093-0561, § 55, eff. 1/1/2004.