528.5 Disclosure of alternative mortgage loan information to applicants.
1. A financial institution that offers or makes an alternative mortgage loan shall include in any disclosure of the rates or availability of mortgage loans, the rates and availability of reverse annuity mortgages or graduated payment mortgage loans, if and when such loans are offered. The administrator may prescribe by rule forms for the required disclosures.
2. A prospective mortgage loan applicant shall have the choice of applying for a mortgage loan or any type of alternative mortgage loan offered by the financial institution.
89 Acts, ch 267, §5
Structure Iowa Code
Chapter 528 - ALTERNATIVE MORTGAGE LOANS
Section 528.3 - Financial institutions allowed to make alternative mortgages.
Section 528.4 - Prepayment penalty prohibited.
Section 528.5 - Disclosure of alternative mortgage loan information to applicants.
Section 528.6 - Prototype plan for alternative mortgage loans — approval by administrator.
Section 528.7 - Reduction in installment payments — repayment of mortgage debt.
Section 528.8 - Interest on graduated payment mortgage loans.