DATE: May 15, 2010
SUBJECT: Illinois Anti-Predatory Lending Program
CONTACT: Sandy Wegman, Recorder, Kane County
PHONE: (630) 232-5949 FAX: (630) 232-5940
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.”