Description
The Illinois Department of Financial and Professional Regulation is seeking a vendor to administer, maintain, and support the statutorily required Anti-Predatory Lending Database. The database must allow brokers, originators, credit counselors, title insurance companies, and closing agents to enter borrower application and closing information online. The vendor will provide technology, business processes, and support for the database. The contract will have an initial term of 2 years, with options for renewal. The vendor must submit their all-inclusive per month cost for the initial term and each renewal option.
• The database must track residential mortgage loan transactions initiated by licensed loan originators or mortgage brokers in Cook, Kane, Peoria, and Will counties.
• The vendor must provide a system modification Statement of Work (SOW) for any material modifications to the database.
• The vendor must comply with the Illinois Procurement Code, rules, and other applicable state and federal statutes and regulations.
• The vendor must provide proof of financial resources sufficient to ensure performance of the contract.
• The vendor must comply with the requirements of the Illinois Human Rights Act, the U.S. Civil Rights Act, and Section 504 of the Federal Rehabilitation Act.