New regulations that take effect on October 3 will significantly alter common residential real estate closings and the practice of real estate attorneys. At a recent ISBA CLE seminar, Ralph Schumann, president of the Illinois Real Estate Lawyers Association (IRELA), referred to the coming changes as a "dramatic sea change" and notes that there "hasn't been anything this big in the past 40 years."

The changes are being implemented by the federal Consumer Financial Protection Bureau (CFPB), which was created by the Dodd-Frank Act in the wake of the 2008 mortgage meltdown. They take the form of a program that is commonly referred to as TRID, an acronym for TILA-RESPA Integrated Disclosure. The new rules will apply to transactions involving mortgage loan applications submitted on or after October 3, 2015. Find out more in the September Illinois Bar Journal.

Here is the Illinois Supreme Court Call of the Docket for September Term 2015:

Call Tuesday, September 15, 2015 - 9:30 A.M.

• No. 117242 - People State of Illinois, appellant, v. Cavinaugh Oral Hughes, appellee. Appeal, Appellate Court, First District.
• No. 117470 - People State of Illinois, appellant, v. Juan Oral Williams, appellee. Appeal, Circuit Court (Cook).

Join your peers for an afternoon of socializing and horse racing at this annual event! 

When: Saturday, September 12, 2015, Noon – 6 p.m.

Tickets will be available for pick up at 11:15 AM on race day at the will call window, Grandstand Entrance (east side off of Wilke Road entrance).

Where: Arlington Park Racecourse, Arlington Heights - ISBA will be at umbrella covered picnic tables located near the 1/8 mile pole.

Cost: $9 per adult, $2 per youth age 4-17. Tickets are complimentary for children 3 and under. General Admission cost includes admission to the park, a daily racing guide, and a fabulous day of Thoroughbred racing! Lunch is not included.

Deadline: Register by Wednesday, September 9, 2015. Ticket refunds are no longer available after Wednesday, September 9, 2015.

For information on permitted and prohibited items in the park, please visit: http://www.arlingtonpark.com/plan-your-visit/general-information/park-policies

Questions: Please email Melissa Burkholder at mburkholder@isba.org or Blake Howard at bhoward@isba.org.

In a continued effort to expand our legal network and better serve the ISBA, President Umberto S. Davi was sworn-in by Chief Justice Patience Drake Roggensack of the Wisconsin Supreme Court and admitted to the Wisconsin Bar on a Motion made by State Bar of Wisconsin President Ralph Cagle. The ceremony took place on Friday, August 28, 2015, in the Wisconsin Supreme Court, which is located in the Capitol Building, in Madison, Wisconsin. Pictured are (from left) Jan Davi, President Davi, Justice Roggensack, Wisconsin Bar Past President Michelle Behnke, President Cagle and Marie Sarantakis.

ISBA Director of Legislative Affairs Jim Covington reviews legislation in Springfield of interest to ISBA members. This week he covers Condominium Property Act (House Bill 2644), Decriminalization of cannabis (House Bill 218), Common-Interest Community Association Act (Senate Bill 1344), Personal Information Protection Act (Senate Bill 1833), Binding arbitration (Senate Bill 1229) and Juveniles in care of State (House Bill 3507). More information on each bill is available below the video.

Condominium Property Act. House Bill 2644 (Cassidy, D-Chicago; Steans, D-Chicago) deletes a provision in current law that allows unit owners to enforce a provision in a declaration that would otherwise be void and ineffective if at least 75% of the owners approve at a any time after the election of the first unit-owner board of managers. Governor Rauner vetoed this because he believes that this is an unnecessary restriction on the rights of condominium owners with respect to their property.

Asked and Answered

By John W. Olmstead, MBA, Ph.D, CMC

Q. We are a six partner litigation firm in Des Moines, Iowa. This year we hired two associates and they are our first. We have not provided them with the best mentoring or guidance - it has sort of baptism by fire. I would appreciate your thoughts on what we should be doing concerning performance management.

The ISBA Rule 711 Committee, an initiative of President Umberto S. Davi, met on Thursday, Aug. 27 at the Chicago Office. Members of the committee included (front row, from left) Michelle Dahlquist, President Davi and Jessica Durkin; (back row, from left) Marie Sarantakis, Ryan Henderson, Committee Chair Judge Michael Chmiel, Robert Park, Eva Tameling, Theresa Ceko and Committee Vice-Chair Kelly E. Gordon. The Committee is exploring the expansion of the 711 license to private law firms. Michael Bergmann and Christina Cullom also serve on the committee.

Join us for this half-day seminar in Chicago or via live webcast on September 17, 2015 that offers you a look at some of the not-so-common ways to recover assets from a debtor and the complex methods in which assets can be reclaimed. Attorneys with intermediate practice experience who work in the commercial litigation, banking and/or bankruptcy area who attend this seminar will better understand: how to spot fraudulent transfers; what successor liability is and how to use it against a debtor; how to obtain a charging order against a member in an LLC; the correct documents to obtain and questions to ask during a citation examination; how to recover cross-border assets; and much more!

The program is presented by the ISBA Commercial Banking, Collections, and Bankruptcy Section and qualifies for 3.0 hours MCLE credit.

Click here for more information and to register.

ISBA Director of Legislative Affairs Jim Covington reviews legislation in Springfield of interest to ISBA members. This week he covers New criminal law procedures (Public Act 99-413), Open Meetings Act (Public Act 99-402), Real estate claims in Cook County (Public Act 99-439), Ordinances affecting calls to police (Public Act 99-441) and Summary suspensions (Public Act 99-467). More information on each bill is available below the video.

New criminal law procedures. Public Act 99-413 (Lang, D-Skokie;  John Cullerton, D-Chicago) implements the crime victim constitutional amendment adopted in the 2014 general election. Reorganizes and modifies the rights of crime victims and establishes additional procedures for enforcing victims’ rights. Provides that the Act does not grant any person a cause of action in equity or law for compensation for damages or attorney's fees, nor does it create a ground for relief requested by the defendant in a criminal case. Provides that presentence reports shall be open for inspection to the victim of a crime as set forth in the Act.

Effective August 20, 2015.