News Release

DATE: May 15, 2010

SUBJECT: Illinois Anti-Predatory Lending Program

CONTACT: Sandy Wegman, Recorder, Kane County

PHONE: (630) 232-5949 FAX: (630) 232-5940

EMAIL: wegmansandy@kanecountyrecorder.net

In accordance with 765 ILCS 77/70, Predatory Lending Database Program Expansion to Kane, Will & Peoria Counties, effective July 1, 2010, the recording of any new loan on real estate dated or executed (signed) on or after 7-1-10 will require either a Certificate of Compliance or a Certificate of Exemption be attached to the document. If there is no Certificate, the document will be rejected by the Recorder’s Office.

"In addition, if any lis pendens for a residential mortgage foreclosure is recorded on the property within the program area, a certificate of service must be simultaneously recorded that affirms that a copy of the lis pendens was filed with the Department."



Further resources:

Illinois Anti-Predatory Lending Program
List of documents that require a certificate (PDF) Sample Affirmation of Non-Residential Mortgage Foreclosure Lis Pendens
Illinois Anti-Predatory Lending Program (Effective July 1, 2010) www.ilapld.com Note: The following (1)&(2) may assist in applying Anti-Predatory Lending PRogram requirements to RECORDINGS. (1) NEEDS CERTIFICATE OF EXEMPTION OR CERTIFICATE OF COMPLIANCE* Basically any brand new loan on real estate dated or executed (signed) on or after 7-01-10. (*Note: attach only ONE certificate per document to the front of the document) (2)