Testimony to the Illinois OBRE regarding changes to the Residential Mortgage Licensee Act

Mar 05, 2003
  • Description

Testimony of Geoff Smith, Woodstock Institute research associate, to the Illinois Office of Banks and Real Estate on several proposed changes. Woodstock opposes changes to the regulation of high risk loans because the changes do not add any substantive protections. Woodstock supports the proposed licensing changes and the increase in the net worth requirements for mortgage lenders and brokers.