Illinois Administrative Code
Title 38 - FINANCIAL INSTITUTIONS
Part 1050 - RESIDENTIAL MORTGAGE LICENSE ACT OF 1987
Subpart K - GENERAL LENDING PRACTICES
Section 1050.1270 - Refinancing Prohibited in Certain Cases
Universal Citation: 38 IL Admin Code ยง 1050.1270
Current through Register Vol. 48, No. 12, March 22, 2024
No lender shall refinance any high risk home loan, if the refinancing charges additional points and fees, within a 12 month period after the original loan agreement was signed, unless the refinancing results in a financial benefit to the borrower.
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