ARC Home requires all licensed Correspondent Sellers to enter IL required loans into the Illinois ANTI-PREDATORY LENDING DATABASE (IL APLD).

 Timing of Database Entry

IL APLD requires that all loans must be entered into the database with in ten business days after a loan application is taken.

 Illinois Loan Applications Required to be Entered into the Database

All IL loan applications are required to be entered into the database regardless of property type.  This includes non-owner occupied investment properties, including business purpose loans.

 Exemption

An entity needs to be exempt from licensing under IL RMLA in order to be exempt from entering loan information into the database.