No, a Certificate of Compliance or a Certificate of Exemption still needs to be filed for covered mortgages. 

You are correct that the IDFPR’s administrative rules for the Predatory Lending Database program were repealed, effective August 28, 2017. However, the law establishing this program — the Residential Real Property Disclosure Act (Act) — has not been repealed. The Act, which applies to residential mortgages in Cook, Kane, Peoria and Will counties, still requires the title insurance company or closing agent to file a Certificate of Compliance or a Certificate of Exemption for a covered mortgage. The IDFPR’s repeal of its related rules did not eliminate this requirement.

For resources related to our guidance, please see:

• 38 Ill. Admin Code 346, Predatory Lending Database (Repealed at 41 Ill. Reg. 11334)

• 41 Ill. Reg. 11334 (“Summary and Purpose of Rulemaking: Pursuant to Executive Order 2016-13, issued by Governor Rauner on October 17, 2016, IDFPR is repealing this Part under the ‘Cutting the Red Tape Initiative’ to make certain that our regulatory standards are up to date; use plain language where appropriate; provide continuity across the balance of our Title 38 administrative rules; are not unduly burdensome to businesses or social service providers or recipients and are statutorily authorized.”)

• Residential Real Property Disclosure Act, 765 ILCS 77/70(g) (“The title insurance company or closing agent shall attach to the mortgage a certificate of compliance with the requirements of this Article, as generated by the database. If the transaction is exempt, the title insurance company or closing agent shall attach to the mortgage a certificate of exemption, as generated by the database. If the title insurance company or closing agent fails to attach the certificate of compliance or exemption, whichever is required, then the mortgage is not recordable.”)