IL SB1667

Replaces references to "Commissioner" with "Secretary" throughout the Residential Mortgage License Act of 1987 to reflect a change in regulatory authority.

Allows federally chartered savings banks registered with the Nationwide Mortgage Licensing System to apply for exempt company registration to sponsor mortgage loan originators without affecting their exempt status.

Requires exempt entities sponsoring mortgage loan originators to provide blanket surety bonds, reasonably supervise originators, comply with federal SAFE Act requirements, and pay annual registration fees.

Establishes examination and investigation authority for the Secretary over mortgage loan originators sponsored by exempt entities, including record-keeping requirements and office access for compliance purposes.

Creates conditions for the Secretary to deny, fine, suspend, or revoke exempt company registrations for violations including dishonesty, regulatory non-compliance, fraud, misrepresentation, or failure to provide required information.