Terms Used In Illinois Compiled Statutes 205 ILCS 635/5-15

  • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
     No licensee may make, provide, or arrange for a residential mortgage loan that finances, directly or indirectly, any credit life, credit disability, or credit unemployment insurance; however, insurance premiums calculated and paid on a monthly basis shall not be considered to be financed by the lender.