Your infamy rank becomes your reputation level (max 100) after going infamous (only applies to ranks 25+).
Your loadout is reset partially, but you get to keep your unlocks and some of your skill points (up to current reputation level).
You stay at your initial level until you collect total amount of experience points needed for next level.
Also, gained XP is penalized based on your current rank until you pass your initial level. This is added for balancing reasons.
Infamy rank
Gained XP penalty
26-50
10%
60
9%
75
7.5%
100+
5%
This should make you feel better when grinding infamy levels as you do not need to play without skills/gear etc. Make a backup of your save before using this because there might be issues that I didn't find while testing.
Mod is kept as simple and clean as possible. Meaning that mod uses only in-game save file to work.
No additional dialogs, settings, menus or anything that might cause confusion.