IL Government Making Things Tough On Loan Originators - Page 2

Greg · #11 (**permalink**) 12-21-2005, 09:14 AM

Funny thing is I bet loans end up closing. I wonder what will happen to those that do.

For example: National Title Companies and Lenders. They might even be unaware.

Wonder how they would stop them from closing. At recording? lol

Loan Wolf · #12 (**permalink**) 12-22-2005, 02:49 PM

they have put a delay on the law until they get all the details fixed out
hopefully the lenders and Investors will return asap...

The Wizard · #13 (**permalink**) 12-22-2005, 02:56 PM

Thank you for the update Loan Wolf. That is good to hear, sounds like they went off willie nellie outthinking this all the way through. In addition what will gauge if the loan present to them is a good deal? (Is there a magic number for the APR, Fees?) The more I think about this the more it sounds like the big banks may have had some way of encourging this type of litigation.

Ok that is my 2 cents.

Have a wonderful holiday all.

Thank you.