Fabio
178 lines
12 KiB
Markdown
178 lines
12 KiB
Markdown
---
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type: "Bill"
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title: "PROHIB PREPAYMENT PENALTIES"
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description: "Amends the Residential Mortgage License Act of 1987. Provides that no licensee may make, provide, or arrange a mortgage loan with a prepayment penalty (rather than permitting prepayment penalties under specified conditions). Provides that prepayment penalties are prohibited in connection with the sale or destruction of a dwelling secured by a residential mortgage loan. Amends the High Risk Home Loan Act to provide that for any loan that is subject to the provisions of the Act and is not subject to the provisions of the Home Ownership and Equity Protection Act of 1994, no lender shall make a high risk home loan that includes a penalty provision (rather than permitting prepayment penalties under specified conditions). Amends the Interest Act. Deletes a provision providing that notwithstanding specified provisions, the lender, in the case of any nonexempt residential mortgage loan, shall have the right to include a prepayment penalty that meets specified criteria."
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jurisdiction: "us/states/il"
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legislature: "Illinois General Assembly"
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session: "96th"
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identifier: "HB 537"
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citation: "Illinois HB 537 (96th)"
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classification: ["bill"]
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subjects: []
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status: "enacted"
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primary_sponsors: []
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version_count: 3
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action_count: 115
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vote_count: 3
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first_action: "2009-02-04"
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last_action: "2010-06-21"
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source: "openstates"
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source_identifier: "ocd-bill/c4ad2e10-b012-478a-b313-35b6d254909d"
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source_url: "http://ilga.gov/legislation/BillStatus.asp?DocNum=537&GAID=10&DocTypeID=HB&LegId=40919&SessionID=76&GA=96"
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source_hash: "41a48f7d79e5f105aae2fc8f9a18817016d1cba30fdb86343f250c769df05b11"
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vintage: "2026-07-01"
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source_snapshot: "https://data.openstates.org/daily/2026-07-01/public.pgdump"
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retrieved_at: "2026-07-06"
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confidence: "reported"
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tags: ["legislation", "bill", "us-il"]
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---
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# Illinois HB 537 (96th) — PROHIB PREPAYMENT PENALTIES
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Amends the Residential Mortgage License Act of 1987. Provides that no licensee may make, provide, or arrange a mortgage loan with a prepayment penalty (rather than permitting prepayment penalties under specified conditions). Provides that prepayment penalties are prohibited in connection with the sale or destruction of a dwelling secured by a residential mortgage loan. Amends the High Risk Home Loan Act to provide that for any loan that is subject to the provisions of the Act and is not subject to the provisions of the Home Ownership and Equity Protection Act of 1994, no lender shall make a high risk home loan that includes a penalty provision (rather than permitting prepayment penalties under specified conditions). Amends the Interest Act. Deletes a provision providing that notwithstanding specified provisions, the lender, in the case of any nonexempt residential mortgage loan, shall have the right to include a prepayment penalty that meets specified criteria.
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## Version chain
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The bill's text revisions, in order — the diff chain from filing to enrollment.
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1. **Introduced** (filed) — [source](http://ilga.gov/legislation/fulltext.asp?DocName=09600HB0537&GA=96&SessionId=76&DocTypeId=HB&LegID=40919&DocNum=537&GAID=10&Session=&print=true)
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2. **Engrossed** (committee substitute) — [source](http://ilga.gov/legislation/fulltext.asp?DocName=09600HB0537eng&GA=96&SessionId=76&DocTypeId=HB&LegID=40919&DocNum=537&GAID=10&Session=&print=true)
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3. **Enrolled** (enrolled) — [source](http://ilga.gov/legislation/fulltext.asp?DocName=09600HB0537enr&GA=96&SessionId=76&DocTypeId=HB&LegID=40919&DocNum=537&GAID=10&Session=&print=true)
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## Votes
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- Third Reading — **58–1** (pass) · upper
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- Concurrence — **108–1** (pass) · lower
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- Third Reading — **65–49** (pass) · lower
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## Sponsors
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- Lou Lang — primary (person)
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- Mattie Hunter — cosponsor (person)
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- Toi W. Hutchinson — cosponsor (person)
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## Timeline
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The legislative action history — every referral, reading, and vote.
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- **2009-02-04** Filed with the Clerk by Rep. Charles E. Jefferson `filing`
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- **2009-02-04** Chief Co-Sponsor Rep. Keith Farnham
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- **2009-02-04** Chief Co-Sponsor Rep. Fred Crespo
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- **2009-02-04** First Reading `reading-1`
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- **2009-02-04** Referred to Rules Committee `referral-committee`
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- **2009-02-09** Assigned to Consumer Protection Committee `referral-committee`
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- **2009-03-10** Do Pass / Standard Debate Consumer Protection Committee; 008-006-000 `committee-passage`
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- **2009-03-11** Placed on Calendar 2nd Reading - Standard Debate
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- **2009-03-23** Added Co-Sponsor Rep. Emily McAsey
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- **2009-03-25** Second Reading - Standard Debate `reading-2`
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- **2009-03-25** Placed on Calendar Order of 3rd Reading - Standard Debate
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- **2009-03-26** Added Chief Co-Sponsor Rep. Careen M. Gordon
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- **2009-03-26** Added Chief Co-Sponsor Rep. Kenneth Dunkin
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- **2009-03-26** Added Co-Sponsor Rep. Patrick J. Verschoore
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- **2009-04-03** Added Co-Sponsor Rep. Deborah L. Graham
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- **2009-04-03** Third Reading - Standard Debate - Passed 065-049-001 `reading-3, passage`
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- **2009-04-03** Added Co-Sponsor Rep. Annazette Collins
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- **2009-04-03** Added Co-Sponsor Rep. Jehan A. Gordon
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- **2009-04-15** Arrive in Senate `introduction`
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- **2009-04-15** Placed on Calendar Order of First Reading `reading-1`
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- **2009-04-15** Chief Senate Sponsor Sen. John J. Cullerton
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- **2009-04-15** Added as Alternate Chief Co-Sponsor Sen. Don Harmon
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- **2009-04-15** First Reading `reading-1`
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- **2009-04-15** Referred to Assignments `referral-committee`
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- **2009-04-22** Assigned to Financial Institutions `referral-committee`
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- **2009-04-29** Alternate Chief Sponsor Changed to Sen. Ira I. Silverstein
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- **2009-04-30** Held in Financial Institutions
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- **2009-05-07** Held in Financial Institutions
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- **2009-05-08** Rule 3-9(a) / Re-referred to Assignments `referral-committee`
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- **2009-05-12** Sponsor Removed Sen. Don Harmon
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- **2010-04-22** Re-assigned to Executive `referral-committee`
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- **2010-04-23** Rule 2-10 Committee Deadline Established As May 7, 2010
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- **2010-04-27** Alternate Chief Sponsor Changed to Sen. John J. Cullerton
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- **2010-04-28** Senate Committee Amendment No. 1 Filed with Secretary by Sen. John J. Cullerton `amendment-introduction`
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- **2010-04-28** Senate Committee Amendment No. 1 Referred to Assignments `referral-committee`
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- **2010-04-28** Senate Committee Amendment No. 1 Assignments Refers to Executive
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- **2010-04-28** Senate Committee Amendment No. 1 Adopted `amendment-passage`
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- **2010-04-28** Do Pass as Amended Executive; 008-001-004 `committee-passage`
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- **2010-04-28** Placed on Calendar Order of 2nd Reading April 29, 2010
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- **2010-04-30** Second Reading `reading-2`
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- **2010-04-30** Placed on Calendar Order of 3rd Reading May 3, 2010
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- **2010-05-03** Alternate Chief Sponsor Changed to Sen. Kimberly A. Lightford
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- **2010-05-04** Senate Floor Amendment No. 2 Filed with Secretary by Sen. Kimberly A. Lightford `amendment-introduction`
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- **2010-05-04** Senate Floor Amendment No. 2 Referred to Assignments `referral-committee`
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- **2010-05-04** Senate Floor Amendment No. 2 Assignments Refers to Financial Institutions
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- **2010-05-05** Senate Floor Amendment No. 2 Recommend Do Adopt Financial Institutions; 010-000-000
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- **2010-05-05** Added as Alternate Chief Co-Sponsor Sen. Jacqueline Y. Collins
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- **2010-05-05** Added as Alternate Chief Co-Sponsor Sen. Heather Steans
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- **2010-05-05** Senate Floor Amendment No. 3 Filed with Secretary by Sen. Kimberly A. Lightford `amendment-introduction`
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- **2010-05-05** Senate Floor Amendment No. 3 Referred to Assignments `referral-committee`
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- **2010-05-05** Senate Floor Amendment No. 3 Assignments Refers to Executive
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- **2010-05-05** Senate Floor Amendment No. 4 Filed with Secretary by Sen. Kimberly A. Lightford `amendment-introduction`
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- **2010-05-05** Senate Floor Amendment No. 4 Referred to Assignments `referral-committee`
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- **2010-05-05** Senate Floor Amendment No. 3 Recommend Do Adopt Executive; 013-000-000
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- **2010-05-05** Senate Floor Amendment No. 4 Be Approved for Consideration Assignments
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- **2010-05-05** Added as Alternate Chief Co-Sponsor Sen. Dan Rutherford
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- **2010-05-05** Recalled to Second Reading `reading-2`
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- **2010-05-05** Senate Floor Amendment No. 2 Adopted; Lightford `amendment-passage`
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- **2010-05-05** Senate Floor Amendment No. 3 Adopted; Lightford `amendment-passage`
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- **2010-05-05** Senate Floor Amendment No. 4 Adopted; Lightford `amendment-passage`
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- **2010-05-05** Placed on Calendar Order of 3rd Reading
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- **2010-05-05** Added as Alternate Chief Co-Sponsor Sen. Emil Jones, III
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- **2010-05-05** Added as Alternate Co-Sponsor Sen. Toi W. Hutchinson
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- **2010-05-05** Added as Alternate Co-Sponsor Sen. Mattie Hunter
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- **2010-05-05** Third Reading - Passed; 058-001-000 `reading-3, passage`
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- **2010-05-05** Arrived in House `introduction`
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- **2010-05-05** Placed on Calendar Order of Concurrence Senate Amendment(s) 1, 2, 3, 4
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- **2010-05-05** Chief Sponsor Changed to Rep. Lou Lang
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- **2010-05-06** Senate Committee Amendment No. 1 Motion Filed Concur Rep. Lou Lang
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- **2010-05-06** Senate Floor Amendment No. 2 Motion Filed Concur Rep. Lou Lang
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- **2010-05-06** Senate Floor Amendment No. 3 Motion Filed Concur Rep. Lou Lang
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- **2010-05-06** Senate Floor Amendment No. 4 Motion Filed Concur Rep. Lou Lang
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- **2010-05-06** Senate Committee Amendment No. 1 Motion to Concur Referred to Rules Committee `referral-committee`
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- **2010-05-06** Senate Floor Amendment No. 2 Motion to Concur Referred to Rules Committee `referral-committee`
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- **2010-05-06** Senate Floor Amendment No. 3 Motion to Concur Referred to Rules Committee `referral-committee`
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- **2010-05-06** Senate Floor Amendment No. 4 Motion to Concur Referred to Rules Committee `referral-committee`
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- **2010-05-06** Added Co-Sponsor Rep. Joseph M. Lyons
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- **2010-05-06** Added Co-Sponsor Rep. Al Riley
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- **2010-05-06** Added Co-Sponsor Rep. Elaine Nekritz
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- **2010-05-06** Added Co-Sponsor Rep. Marlow H. Colvin
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- **2010-05-06** Added Co-Sponsor Rep. Camille Y Lilly
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- **2010-05-06** Added Co-Sponsor Rep. Patricia R. Bellock
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- **2010-05-06** Added Co-Sponsor Rep. Karen A. Yarbrough
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- **2010-05-06** Remove Chief Co-Sponsor Rep. Kenneth Dunkin
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- **2010-05-06** Added Co-Sponsor Rep. Kenneth Dunkin
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- **2010-05-06** Added Chief Co-Sponsor Rep. Monique D. Davis
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- **2010-05-07** Senate Committee Amendment No. 1 Motion to Concur Rules Referred to Executive Committee `referral-committee`
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- **2010-05-07** Senate Floor Amendment No. 2 Motion to Concur Rules Referred to Executive Committee `referral-committee`
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- **2010-05-07** Senate Floor Amendment No. 3 Motion to Concur Rules Referred to Executive Committee `referral-committee`
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- **2010-05-07** Senate Floor Amendment No. 4 Motion to Concur Rules Referred to Executive Committee `referral-committee`
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- **2010-05-24** Senate Committee Amendment No. 1 Motion to Concur Recommends Be Adopted Executive Committee; 010-000-000
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- **2010-05-24** Senate Floor Amendment No. 2 Motion to Concur Recommends Be Adopted Executive Committee; 010-000-000
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- **2010-05-24** Senate Floor Amendment No. 3 Motion to Concur Recommends Be Adopted Executive Committee; 010-000-000
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- **2010-05-24** Senate Floor Amendment No. 4 Motion to Concur Recommends Be Adopted Executive Committee; 010-000-000
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- **2010-05-25** Added Co-Sponsor Rep. Robert F. Flider
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- **2010-05-26** Senate Committee Amendment No. 1 House Concurs 108-001-001
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- **2010-05-26** Senate Floor Amendment No. 2 House Concurs 108-001-001
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- **2010-05-26** Senate Floor Amendment No. 3 House Concurs 108-001-001
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- **2010-05-26** Senate Floor Amendment No. 4 House Concurs 108-001-001
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- **2010-05-26** Passed Both Houses
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- **2010-05-26** Added Co-Sponsor Rep. Cynthia Soto
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- **2010-05-26** Added Co-Sponsor Rep. Paul D. Froehlich
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- **2010-05-26** Added Co-Sponsor Rep. Elizabeth Hernandez
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- **2010-05-26** Added Co-Sponsor Rep. Edward J. Acevedo
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- **2010-05-26** Added Co-Sponsor Rep. Susana A. Mendoza
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- **2010-05-26** Added Co-Sponsor Rep. Luis Arroyo
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- **2010-05-26** Added Co-Sponsor Rep. Maria Antonia Berrios
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- **2010-05-26** Added Co-Sponsor Rep. John D'Amico
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- **2010-05-26** Added Co-Sponsor Rep. Sandra M. Pihos
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- **2010-05-26** Added Co-Sponsor Rep. Esther Golar
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- **2010-05-26** Added Co-Sponsor Rep. Eddie Lee Jackson, Sr.
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- **2010-06-17** Sent to the Governor `executive-receipt`
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- **2010-06-21** Governor Approved `executive-signature`
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- **2010-06-21** Effective Date March 21, 2011
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- **2010-06-21** Public Act . . . . . . . . . 96-0936 `became-law`
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## Source
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OpenStates / OpenCivicData bulk snapshot [2026-07-01](https://data.openstates.org/daily/2026-07-01/public.pgdump); origin `ocd-bill/c4ad2e10-b012-478a-b313-35b6d254909d`. Confidence: reported (aggregated from official Illinois legislature records).
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