Welcome to the Anti-Predatory Lending Database website.
The purpose of this site is to eliminate predatory lending practices by increasing the borrowers’ understanding of the loans they are considering and thereby reduce the number of foreclosures resulting from inappropriate loans.
September 22, 2015
Notice Regarding APLD Entry and Handling for Loan Applications taken as late as October 2, 2015 (Prior to CFPB’s Mandated Mortgage Disclosures on October 3, 2015)
On October 3, 2015, the APLD will convert to only accept loan applications taken subject to the two CFPB’s Mandated Mortgage Disclosures (initially with the new CFPB Loan Estimate) and carry that through to any applicable housing counseling and the closing of the loan (culminating with the new CFPB Closing Disclosure). Due to this APLD conversion, for loan applications taken on or before October 2, 2015, licensees must enter the required loan information into the APLD no later than October 2, 2015, and include Good Faith Estimate (GFE) and Truth in Lending (TIL) disclosure information as is presently done. Housing counselors and title/closing agents will use as presently done the GFE, TIL, and HUD-1 settlement statements for this October 2, 2015 or before grouping of taken loan applications.
September 8, 2015
Broker File Upload Standards
Veritec Solutions, LLC has the Broker File Upload Standards v1.0 available for distribution. This document contains all the necessary information for the file upload process of your loan data to the Veritec Illinois APL Database. Any brokers who plan to upload files must first complete a certification process with Veritec.
Upon passing the certification process, brokers may begin uploading files to the Veritec Illinois APL Database on 10/03/2015. The broker file upload process will be available for loan applications that are added to the database on or after 10/03/2015, when new loans added to the database will be processed based on the Consumer Financial Protection Bureau’s new mandated disclosures. For more information, please contact Ira Tangy by phone at 312-793-4532 or by email at email@example.com.
June 18, 2015
Notice Regarding Mandated Mortgage Disclosures
The Consumer Financial Protection Bureau has announced a two-month delay launching the new mandated mortgage disclosures. The CFPB released a statement from Director Richard Cordray saying the agency would issue a "proposed amendment" delaying the effective date to October 3, 2015.
November 25, 2014
APLD Policy on Cancelled Loan Applications
Once a loan application has been taken it must be entered into the APLD whatever the ultimate disposition of that application may be. This is particularly important regarding loan applications that are subsequently cancelled by the applicant. Cancellation of an application does not eliminate the requirement for entry into the APLD. All applicable loans in the APLD program area that appear in the loan log must also be entered in the APLD. Loan log and APLD data must be consistent.
October 2, 2014
IMPORTANT NOTICE REGARDING NEW ELECTRONIC FILING OF LIS PENDENS
Please be advised that Lis Pendens notices required to be filed with the Department of Financial and Professional Regulation pursuant to 765 ILCS 77/70(g) can now be filed electronically. For further information and assistance in setting up an account, submit an email to VeritecOps@ILAPLD.com
with the subject line being “New Electronic Filing Request – (law firm name)”. There is no charge for this service. Electronic filing will save mailing, messenger, and copying costs. However, if you prefer, you may continue to file hard copy with the Department. Either process will be compliant with the requirements of the statute.
December 21, 2012
Clarification regarding certificates of exemption and compliance. Please click here
for more information.
August 8, 2011
The Illinois Residential Mortgage License Act has been amended regarding private mortgages. Click here
for further information.
August 8, 2011
Please review the guidelines for accurate data entry in the APLD. Click here
for further information.
May 4, 2011
Effective May 4, 2011 the APLD Semi-Annual Reports are available and can be viewed via the Illinois Department of Financial and Professional Regulation website at www.idfpr.com
through the Division of Banking drop-down menu. For the most recent report please click here
July 1, 2010
Effective July 1, 2010, the Illinois Anti-Predatory Lending Database Program expands to three additional counties: Kane, Peoria, and Will. Training opportunities are now available. Please click on the Training link or Click Here
for the schedule of available sessions and other related information.
January 1, 2010
Changes to Good Faith Estimate (GFE) and HUD-1 forms are effective beginning January 1, 2010. Modifications have been made to the Anti-Predatory Lending Database for entry of GFE and HUD-1 data. Please Click Here
for more information concerning these updates.
What is predatory lending?
Unfair, deceptive or negligent lending practices, often referred to as “predatory lending,” have caused many families to lose their homes. When faced with a mortgage a borrower is unable to pay, the result is often foreclosure of the borrower’s home. This situation affects not only the owner of the foreclosed property, but the entire community as well. Neighborhoods fall into disrepair and home values decrease as properties are abandoned.