Sec. 120. Review and analysis.
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/il/chapter-815/act-137/120A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Sec. 120. Review and analysis.
(a)The Commissioner or Director shall review and analyze the default and foreclosure rate data reports submitted under Section 115.
(b)The reports and their analyses may be used for the following purposes:
(1)In setting the scope of a regularly scheduled examination.
(2)In setting the scope of a special examination.
(3)In comparing the reported information of a servicer.
(c)The Commissioner or the Director may correspond with a servicer to seek clarification of information contained in its report and to gather additional data concerning loans in default or loans in foreclosure.