Settlement Services Committee
The Settlement Services Committee provides a forum for ILTA members to share expertise, exchange experiences, and discuss issues impacting settlement services and related title matters. By fostering open communication and collaboration, the committee helps identify and address challenges acing the industry, while ensuring members' perspectives are represented to the Board.
The Settlement Services Committee meets at the Quarterly Committee meetings in January, April and October. For more information or to register for an upcoming meeting, please see our Calendar of Upcoming Events.
If you'd like to be added to the roster for this committee, please email Stacy McGuire. Roster members receive committee-related updates, communications, and calendar invites to the quarterly committee meetings.
The IL notary public application must now be completed online: IL Sec of State Notary Public Application. Paper applications are no longer accepted, unless you are applying as a non-resident. Non-residents are still required to complete a paper non-resident application.
Recommended notary application process if utilizing ILTA notary vendor discount with Notary Public Association/NPA:
- Purchase notary package through Notary Public Association. At the homepage top bar, click Become Notary or Renew Notary. All notary packages include the mandatory items: notary bond, notary stamp, notary course.
- Complete/Pass mandatory notary course and test. Email with instructions on how to access the course and upon completion, receive the certificate of course completion, will be emailed to the email address identified in notary package purchase.
- Order Notary Bond through NPA. Once processed, the bond is delivered via email. Upon receipt of the bond, print and sign the left line with pen before uploading paper copy to state website.
- Complete the online Notary Application and pay $15 state filing fee. Upload copy of IL Driver’s license, course certificate of completion and notary bond.
- Forward Commission Certificate to NPA. Notary stamp will be created/delivered to notary.
US Dept of Treasury’s Financial Crimes Enforcement Network (FinCEN) issued a new Geographic Targeting Order (GTO) effective October 16, 2024 thru April 14, 2025 with no changes to covered geographic areas or sale price thresholds.
Update: New PLEC Requirements Effective January 1, 2026
The Illinois Department of Financial and Professional Regulation (IDFPR) has released an update regarding the Private Lending Exemption Certificate (PLEC) Program, which will take effect January 1, 2026. The new requirements apply to private lenders—defined as individuals or entities that do not originate mortgage loans in the ordinary course of business and do not make, acquire, or resell more than three residential mortgage loans per year.
Under this update, a PLEC must be attached to all private-lender residential mortgages recorded in Cook, Kane, Will, and Peoria Counties. Private lenders must now submit an executed mortgage and additional verification details directly to IDFPR for approval before recording.
While this change primarily affects lenders who close their own transactions, ILTA members should be aware of how it intersects with current Anti-Predatory Lending Database (APLD) practices. Because title companies issue exempt certificates for APLD-exempt transactions, the operational impact on our industry may be limited—except in cases involving private lenders, where a PLEC will replace the Certificate of Compliance typically required in APLD counties.
Members are encouraged to review the update and be prepared to assist clients or closing partners who may encounter this new requirement, especially in transactions that involve private, non-institutional residential lending.