Notice of Next Meeting - October 23, 2012
Duties: The Residential Mortgage Board was created to provide an advisory function to the Commissioner.
Membership Qualifications: The Board shall be composed of five members appointed by the Commissioner of Banks and Real Estate. The majority of persons on the Board shall have no financial interest in any residential mortgage business and one member shall be a representative of the Illinois Mortgage Bankers Association and one member shall be a representative of the Illinois Association of Mortgage Brokers.
Powers: The Board shall assist the Commissioner by:
- Submitting recommendations to the Commissioner for the efficient administration of this Act
- Performing other duties as are prescribed by the Commissioner.