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Code · Illinois · Chapter 815 — BUSINESS TRANSACTIONS · Act 137

Sec. 55. Financing of points and fees.

76 words·~1 min read·/il/chapter-815/act-137/55

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Sec. 55. Financing of points and fees. No lender shall transfer, deal in, offer, or make a high risk home loan that finances, directly or indirectly, any points and fees. No lender shall transfer, deal in, offer, or make a high risk home loan that finances any prepayment fee or penalty payable by the consumer in a refinancing transaction if the creditor or an affiliate of the creditor is the noteholder of the note being refinanced.
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