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Table of Contents

List of Forms by Chapter

Chapter 1 — Introduction

Chapter 2 — The Illinois Mortgage Foreclosure Law

Chapter 3 — Predatory Lending and Servicing Practices

Chapter 4 — Legal Remedies for Mortgage Abuses

I. [4.1] Truth in Lending and Home Ownership and Equity Protection Acts

[4.2] Applicability

[4.3] Purpose

[4.4] Rescission Rights

[4.5] Home Ownership and Equity Protection Act

[4.6] Disclosure Requirements

[4.7] Substantive Requirements

[4.8] Remedies

[4.9] Higher-Priced Mortgage Loans

[4.10] Additional Provisions Relating to Home Mortgages Added in 2008 – 2011

[4.11] October 1, 2009, Regulation Z Amendment

[4.12] Regulation N — Mortgage Advertising

[4.13] Restrictions on Charging Interest and Fees Without Sending Periodic Statements

[4.14] Notice of Transfer of Ownership

[4.15] Common Truth in Lending Act Violations Relating to Mortgages

[4.16] Truth in Lending Act Remedies

[4.17] Truth in Lending Act Limitations

II. [4.18] Real Estate Settlement Procedures Act and U.S. Department of Housing and Urban Development Regulation X

[4.19] Good-Faith Estimate/Loan Estimate

[4.20] Escrow Limitations

[4.21] Cranston-Gonzales National Affordable Housing Act Amendment to the Real Estate Settlement Procedures Act

[4.22] Kickbacks, Yield Spread Premiums, and Bogus Charges

III. Fair Debt Collection Practices Act

[4.23] In General

[4.24] What Is a “Debt Collector”?

[4.25] Debt Buyers

[4.26] Collection Lawyers

[4.27] Foreclosure Lawyers

[4.28] Creditors

[4.29] Furnishers of Deceptive Forms

[4.30] Repossessors and Enforcers of Security Interests

[4.31] Who Is a “Consumer”?

[4.32] What Is a “Debt”?

[4.33] Personal, Family, or Household Purposes

[4.34] Transaction

[4.35] “In Connection With” the Collection of a Debt

Typical Fair Debt Collection Practices Act Violations Relating to Mortgages

[4.36] Prohibited Third-Party Contacts and Contacts with Represented Consumers — 15 U.S.C. §1692c

[4.37] Harassing and Abusive Conduct — 15 U.S.C. §1692d

[4.38] False, Deceptive, or Misleading Communications — 15 U.S.C. §1692e

[4.39] Unfair Practices — 15 U.S.C. §1692f

[4.40] Validation Notice — 15 U.S.C. §1692g and Regulation F, 12 C.F.R. §1006.34

[4.41] Venue — 15 U.S.C. §1692i

[4.42] Civil Remedies — 15 U.S.C. §1692k

[4.43] Who May Sue

[4.44] Statutory Damages

[4.45] Actual Damages

[4.46] Vicarious Liability

[4.47] Where Suit May Be Filed

[4.48] Limitations

[4.49] Intent

IV. [4.50] Collection Agency Act

V. [4.51] Equal Credit Opportunity Act and Federal Reserve Board Regulation B

VI. [4.52] Fair Housing Act and 42 U.S.C. §§1981 and 1982

VII. [4.53] Fair Credit Reporting Act

VIII. [4.54] Consumer Fraud and Deceptive Business Practices Act

[4.55] Deception

[4.56] Unfairness

[4.57] Elimination of Common-Law Fraud Restrictions

[4.58] Mortgage Practices Challenged Under Consumer Fraud and Deceptive Business Practices Act

IX. [4.59] Residential Improvement Loan Act

X. [4.60] Residential Mortgage License Act and Regulations

XI. [4.61] Illinois High Risk Home Loan Act

[4.62] Applicability

[4.63] Substantive Provisions

[4.64] Prior Regulations

XII. Interest Act

[4.65] Provisions

[4.66] Federal Preemption

XIII. [4.67] Consumer Installment Loan Act and 38 Ill.Admin. Code Pt. 110

XIV. [4.68] Illinois Fairness in Lending Act

XV. [4.69] County and City Ordinances

XVI. [4.70] Fiduciary Liability of Mortgage Broker

XVII. [4.71] Equitable Defenses in Mortgage Foreclosures

XVIII. [4.72] Unconscionability

XIX. [4.73] Federal Preemption

Chapter 5 — Liability of Assignees and Holders

Chapter 6 — Sample Forms

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Predatory Mortgage Lending and Servicing 2022 Edition

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