IL HJR0025

Urges Congress to pass legislation requiring original residential mortgage lenders to retain a permanent 25% interest in the loan value

References the 2008 financial crisis involving home mortgages, debt instruments, and the banking system threatening economic collapse worse than the Great Depression

Identifies indiscriminate mortgage lending without regard to borrower repayment capacity as a contributing factor to the foreclosure crisis affecting millions of Americans

Directs copies of the resolution to President Barack Obama, the Speaker of the House, the Senate President pro tempore, and all members of the Illinois congressional delegation