With each bid for interest upon city and school funds, the Comptroller shall obtain, in a form prescribed by the Comptroller, from each bidder, the lending and deposit information for its home office and for each branch office or facility the following information:
(a) Residential lending information. The following information to be reported on residential loans shall be classified separately for property containing (1) dwelling units for not more than four families and condominium and cooperative units; and (2) dwelling units for more than four families in the aggregate. Only loans closed within the previous calendar year shall be reported. Bidders must provide this data in a machine-readable format following a template provided by the Comptroller.
(1) The number and total amount of all loans made on residential property within the City of Chicago;
(2) The number and total amount of all loans made on residential property outside the City of Chicago, but located in the Chicago-Naperville-Arlington Heights, IL Metropolitan Division of the Chicago-Naperville-Elgin IL-IN-WI Metropolitan Statistical Area ("Chicago M.S.A.");
(3) The average effective interest rate for all loans, calculated separately according to the following loan purposes, made on residential property within the City of Chicago:
(A) Home purchase loans;
(B) Home refinancing loans;
(C) Home improvement loans;
(D) Home equity loans; and
(E) Construction loans;
(4) The average effective interest rate for all loans, calculated separately according to the following loan purposes, made on residential property outside the City of Chicago, but located in the Chicago M.S.A.:
(A) Home purchase loans;
(B) Home refinancing loans;
(C) Home improvement loans;
(D) Home equity loans; and
(E) Construction loans;
(5) The average downpayment as a percentage of purchase price on all home purchase loans made on property (1) within the City of Chicago and (2) outside the City of Chicago, but limited to the Chicago M.S.A.;
(6) The following data on conventional and F.H.A./V.A. residential home purchase loans shall be reported on an individual loan basis for residential properties within the City of Chicago:
(A) Census tract;
(B) Original loan amount;
(C) Amount of downpayment;
(D) Effective interest rate;
(E) Term of loan;
(F) Purchase price;
(G) Loan application date (not required for loans on dwelling units for more than four families in the aggregate);
(H) Points and fees (not required for loans on dwelling units for more than four families in the aggregate);
(I) Secured or unsecured (not required for loans on dwelling units for more than four families in the aggregate);
(7) The amount of each construction loan made on residential properties within the City of Chicago by census tract;
(8) The amount of each home improvement or rehabilitation loan made on residential properties within the City of Chicago by census tract;
(9) The amount of each residential home refinancing loan made on residential properties within the City of Chicago by census tract;
(10) The amount of each home equity loan made on residential properties within the City of Chicago by census tract;
(11) If the bidder is unable to produce the information regarding the interest rates and points and fees required under subsection (6) of this section from its information systems, the bidder shall provide: (i) a certificate in a form prescribed by the Comptroller certifying that it is unable to produce this information from its information systems; and (ii) any similar information that is available, which information may include rate sheets and weighted interest rates and points and fees.
(b) Consumer lending information.
(1) The number and total amount of all consumer loans made within the City of Chicago;
(2) The number and total amount of all consumer loans made within each census tract in the City of Chicago;
(3) The number and total amount of all consumer loans made outside Chicago but limited to the Chicago M.S.A.
(c) Commercial lending information.
(1) The number and total amount of all commercial loans made within the City of Chicago;
(2) The number and total amount of all commercial loans made within each census tract in the City of Chicago;
(3) The number and total amount of all commercial loans made outside Chicago but limited to the Chicago M.S.A.
(d) Savings and checking account information. The number of savings accounts and checking accounts and the total dollar balances in the savings and checking accounts stated separately for each census tract within the City of Chicago. The Comptroller is authorized to establish reporting dates for each bidder.
(e) Community Reinvestment Act information. A copy of the most recent evaluation performed by the United States Comptroller of the Currency of each bidder's performance under the Community Reinvestment Act, as amended, and a copy of the public section of the most recent written evaluation under the Illinois Community Reinvestment Act, 205 ILCS 735/35-1, et seq., as applicable. The City Comptroller shall transmit copies of all evaluations received to the City Council with the report of bids required by Section 2-32-400 of this Code.
(f) Optional. Each bidder may submit such additional material that is deemed relevant to consideration of the bid.
(g) Additional residential loan information. In addition to the information required in subdivision (a) of this section and the pledge required in Section 2-32-455, the following information is to be reported concerning residential loans made by the bidder and its affiliates on dwellings that are for not more than four families or that are condominium or cooperative units:
(1) The amount, application date, and term of each refinancing loan, including the amount refinanced on the original loan and the amount of new money financed (if any), as reported pursuant to subsection (V)(A)(8)(d) of Appendix A to Part 203 of Title 12 of the Code of Federal Regulations, as amended from time to time, by census tract for loans made within the City of Chicago. The report shall also indicate whether each loan is secured or unsecured;
(2) The amount, application date, and term of each home improvement loan including originations and purchases, and multiple purpose loans that are classified as home improvement loans because they involve a home improvement purpose, as reported pursuant to subsection (V)(A)(8)(b) of Appendix A to Part 203 of Title 12 of the Code of Federal Regulations, as amended from time to time, by census tract for loans made within the City of Chicago. The report shall also indicate whether each loan is secured or unsecured;
(3) The amount, application date, and term of each home loan classified as a construction loan made on property within the City of Chicago by census tract. The report shall also indicate whether each loan is secured or unsecured;
(4) The interest rates and points and fees paid on each of the loans reported under subdivisions (1), (2) and (3), respectively, unless the bidder is unable to produce this information from its information systems, in which case the bidder shall provide: (i) a certificate in a form prescribed by the Chief Financial Officer or the Comptroller certifying that it is unable to produce this information from its information systems, and (ii) any similar information that is available, which information may include rate sheets and weighted interest rates and points and fees; and
(5) (A) The total number of loans secured by residential real property located within the City of Chicago that were made by the bidder;
(B) The total number of loans secured by residential real property located within the City of Chicago that had been made by the bidder and that were foreclosed by the bidder by census tract; regardless of when the loan was made;
(C) The total number of loans reported in clause (A) where the premium of any single premium credit life, credit disability, credit unemployment or any other life or health insurance was financed directly or indirectly into the loan; and
(D) The total number of loans reported in clause (B) where the premium of any single premium credit life, credit disability, credit unemployment or any other life or health insurance was financed directly or indirectly into the loan.
The information required to be reported in this subsection (g) shall be reported separately for each financial institution and affiliate.
(h) Mortgage applications not approved. The denial reasons for mortgage applications for residential properties within the City of Chicago, as reported pursuant to the federal Home Mortgage Disclosure Act, 12 U.S.C. 2801, et seq., by race, sex, and census tract.
(i) Depository information. The number and locations of each of the bidder's facilities located within the City of Chicago, and the census tract of each facility, as reported pursuant to the Community Reinvestment Act. Further, it is requested that bidders with more than 500 employees provide employment and demographic data consistent with that provided with EEO-1, required by the U.S. Equal Employment Opportunity Commission.
(Prior code § 7-34; Amend Coun. J. 2-9-94, p. 45020; Amend Coun. J. 8-30-00, p. 39074, § 1; Amend Coun. J. 7-29-03, p. 4748, § 1; Amend Coun. J. 9-14-21, p. 34254, § 1)