38 Ill. Adm. Code 10550.1055.230
Service Test
TITLE 38: FINANCIAL INSTITUTIONS
CHAPTER II: DEPARTMENT OF FINANCIAL AND PROFESSIONAL REGULATION
PART 1055 MORTGAGE COMMUNITY REINVESTMENT
SECTION 1055.230 SERVICE TEST
Section 1055.230 Service Test
a) Scope
of test. The service test evaluates a covered mortgage licensee's record of
helping to meet the mortgage credit needs in the State by analyzing both the
availability and effectiveness of a covered mortgage licensee's systems for
delivering mortgage loan products and the extent and innovativeness of its
community development services. A covered mortgage licensee that has made fewer
than 200 home mortgage loans in the State in the last calendar year is not
subject to the service test outlined in this Section.
b) Areas
benefited. Community development services must benefit the State or a broader
regional area that includes the State.
c) Performance
criteria − community development services. The Secretary evaluates
community development services pursuant to the following criteria:
1) the
extent to which the covered mortgage licensee provides community development
services; and
2) the
innovativeness and responsiveness of community development services.
d) Performance
criteria − mortgage lending services. The Secretary evaluates the
availability and effectiveness of a covered mortgage licensee's systems for
delivering mortgage lending services considering the assessment factors in
Section 1055.200 and, pursuant to the following criteria:
1) the
availability and effectiveness of systems for delivering mortgage lending
services (e.g., internet, telephone solicitation, direct mail) in low- and
moderate-income geographies and to low- and moderate-income individuals,
including, to the extent applicable, the current distribution of the covered
mortgage licensee's
additional full-service office
among low-, moderate-, middle-, and upper-income geographies; and
2) the
range of services provided in low-, moderate-, middle-, and upper-income
geographies and the degree to which the services are tailored to meet the needs
of those geographies.
e) Service
performance rating. The Secretary rates a covered mortgage licensee's service
performance as provided in Section 1055.APPENDIX A.
f) Examples
of community development. Examples of services, programs, sponsorships,
donations, lawful investments, deposits, membership shares, grants, other
activities which may be deemed to have the primary purpose of community development
include, but are not limited to, the following:
1) Establishment
of or material support of charitable donation accounts and donor advised funds
that benefit charitable organizations which help meet the financial services
needs of low-income and moderate-income neighborhoods or individuals within the
community;
2) Establishment
of or material support of foundations and other affiliated companies that
provide programs and services to meet the credit needs of low-income to
moderate-income neighborhoods;
3) Offering
products and services targeted to expand access to safe and affordable banking
services;
4) Provision
or support of community development services that directly and tangibly benefit
the community;
5) Offering
products and services and/or provision of investments targeted to directly and
tangibly increase climate resilience in low-income to moderate-income
neighborhoods;
6) Offering
products and services and/or provision of investments targeted to directly and
tangibly mitigate environmental harm in low-income to moderate-income
neighborhoods;
7) Participating
in Invest in Illinois or other similar state or federal programs which have the
primary purpose of community development;
8) Participating
in an activity listed in Section 1055.APPENDIX C, ILCRA Illustrative List of
Qualifying Activities for Covered Mortgage Licensees.