Governor Rauner Visits Illinois Department of Financial and Professional Regulation Offices

Employees discuss how the Department is using Responsive, Innovative, Transparent and Efficient (R.I.T.E) Governance to streamline services and lower costs for Illinois residents

SPRINGFIELD- Governor Rauner visited with employees at the Illinois Department of Financial and Professional Regulation (IDFPR) in Springfield today. He received updates on agency implementation of Responsive, Innovative, Transparent, and Efficient (R.I.T.E.) governance which has created operational savings and made the Department a more accessible agency for all Illinoisans.

"IDFPR was one of the first agencies I visited as Governor and the Department has made great strides in its use of technology," Governor Rauner said. "In just 18 months they have made fantastic improvements creating quick and efficient operations for the agency while saving taxpayer dollars."

In the last year IDFPR has replaced its inefficient manual postcard-based notification system for license renewals with an automatic email notification and reminder system. This fix will not only result in an estimated $500,000 per year in savings on postage costs, but it also improved the efficiency, accuracy, and timeliness of renewal notifications.

By modifying existing IT infrastructure, IDFPR replaced paper certificates with a mobile responsive, self-service website that allows licensee's to print their license certificate at any time. A pocket version of the license certificates is also available and can be stored on mobile devices. By making those certificates accessible wherever there is an internet connection, this modification will result in even greater savings on postage costs and improve the experience for people holding and seeking professional licenses in Illinois.

The Department has also taken steps to improve real estate competition in Illinois. IDFPR's Real Estate division sought the input of real estate professionals in February at a Town Hall in Chicago, where 30 real estate professionals from 10 different organizations gave valuable feedback on everything from regulatory rules to enforcement and education. The Division of Banking also adopted the Uniform State Test for mortgage loan originators. This brings Illinois' test into line with most other states, and will increase competition in the mortgage lending industry in Illinois. The Division received 912 applications for mortgage loan originator licenses in the first five months of 2016. After adopting the Uniform State Test on June 1, the Department received 638 applications within the first two weeks of June, and still maintained its seven-day processing time.

All of these initiatives are in line with IDFPR's mission to utilize Responsive, Innovative, Transparent, and Efficient (R.I.T.E.) governance to create an ideal regulatory environment that (1) allows economic growth to flourish, and (2) effectively optimizes consumer choice.

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