The Fed says that the trigger is 8% above on 1st and 10% above on second. I believe that the State of Illinois regs are more strict (seem to recall 6% and 8%). Does anybody out there know what the Illinois rates are or will be??

Does anybody out there read this thing???
If you have an answer please share it.
Is this a stupid question???

Am working with a state bank for 7 months now - still have not figured out the best way to see what Illinois requires.

Here is a link to the Illinois High Risk Home Loan Act. It does state 6% for 1st lien and 8% for junior liens. As well as points and fees of 5% of the total loan amount, or $800, adjusted annually to the CPI.

Yucch. More numbers to remember.