ILCS » Chapter 815 · Act 137
Illinois Compiled Statutes

815 ILCS 137/55 (2026)

Financing of points and fees

✓ current as of May 2026
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(815 ILCS 137/55)
    Sec. 55. Financing of points and fees. No lender shall transfer, deal in, offer, or make a high risk home loan that finances, directly or indirectly, any points and fees. No lender shall transfer, deal in, offer, or make a high risk home loan that finances any prepayment fee or penalty payable by the consumer in a refinancing transaction if the creditor or an affiliate of the creditor is the noteholder of the note being refinanced.
(Source: P.A. 97-849, eff. 1-10-14 (see Section 10 of P.A. 97-1159, 78 Fed. Reg. 6855, 6857, 78 Fed. Reg. 10695, 10696, and 78 Fed. Reg. 44685, 44686).)

    
Notes of Decisions
Cited in 2 cases, 2005–2005 · leading case: U.S. Bank Nat'l Ass'n v. Clark, 837 N.E.2d 74 (Ill. 2005).
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U.S. Bank Nat'l Ass'n v. Clark, 837 N.E.2d 74 (Ill. 2005). “815 ILCS 137/55 (West 2004). The Loan Act also contains an Interest Act “savings clause”: “To the extent this Act conflicts with any other Illinois State financial regulation laws, except the Interest Act, this Act is superior and supersedes those laws for the purposes of…”
U.S. Bank Nat'l Ass'n v. Clark (Ill. 2005). “815 ILCS 137/55 (West 2004). The Loan Act also contains an Interest Act “savings clause”: “To the extent this Act conflicts with any other Illinois State financial regulation laws, except the Interest Act , this Act is superior and supersedes those laws for the purposes of…”
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