This Act appears to be limiting out of state lenders to an interest rate of 8% and points up to 3%. Does anybody have any idea as to how they are going to handle this?

What is ILAMPTA. Please spell it out? If it is state specific, you may want to put it in that area.

Illinois Alternative Mortgage Transaction Parity Act. Sorry if this isn't in the right area, this is my 1st posting.

CAP, there are state specific forums below the "main" forums and you will usually get better responses to state specific questions by posting in that state's forum.

Now on another note. We do have a couple of mortgages in IL, so I would be interested in a link to this Act in case these loans come up for refinancing or renewal.

PS. Welcome to BOL.