As part of the ongoing response to the COVID-19 pandemic, Illinois Governor JB Pritzker issued a “stay home” or “shelter-in-place” order on March 20, 2020, via Executive Order 2020-10 (Order).

Pursuant to the Order, all Illinois residents are directed to “stay at home or at their place of residence except as allowed in” the Order. The Order outlines permitted reasons for leaving home, including detailed descriptions of those reasons. Acceptable reasons for leaving home include for health and safety, for necessary supplies and services, for outdoor activity, for certain types of work, and to take care of others. All business and operations except “Essential Business and Operations…are required to cease all activities…except Minimum Basic Operations.”

In the Order, Essential Business and Operations includes Financial institutions. Specifically, the Order lists “[b]anks, currency exchanges, consumer lenders, including but not limited to, payday lenders, pawnbrokers, consumer installment lenders and sales finance lenders, credit unions, appraisers, title companies, financial markets, trading and futures exchanges, affiliates of financial institutions, entities that issue bonds, related financial institutions, and institutions selling financial products” as Financial institutions.

By including Financial institutions, including lenders, appraisers and title companies, as Essential Business and Operations in the Order to “stay at home” or in place, the Governor has allowed the mortgage industry to continue its essential operations and continue to meet the needs of consumers. This will enable mortgage economy to continue to function during the COVID-19 pandemic in Illinois.


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