Quinn Signs Bill Expanding Illinois’ Anti-Predatory Lending Database Program

CHICAGO — Illinois Gov. Pat Quinn (D) signed legislation Dec. 31 expanding the state’s Anti-Predatory Lending Database Program, which requires loan counseling services for homebuyers applying for mortgages with potentially predatory features.

Quinn signed Senate Bill 1894, which amends the Residential Real Property Disclosure Act to expand the anti-predatory lending program to Kane, Will and Peoria counties. Originally the program, launched on July 1, 2008, applied only to mortgage lenders and homebuyers in Cook County, which includes Chicago and several surrounding suburbs. As the foreclosure crisis continues in Illinois, Quinn said it was clear the program needed to be expanded ...