Clarity Sought on AMTPA’s Effect on OBRE Regulations
July 16, 2001
The Illinois Association of Mortgage Brokers is seeking a federal court ruling on the applicability of new anti-predatory lending regulations issued by state regulators on so-called alternative mortgages originated under preemptive federal law. The regulations were put into place by the Illinois Office of Banks and Real Estate in April to curb abusive lending practices in the state.