535A.3 Discretion of financial institution.
Nothing contained in this chapter shall preclude a financial institution from applying economically sound underwriting practices in contemplation of any mortgage loan to any person. Such practices shall include but are not limited to the following:
1. The willingness and the financial ability of the borrower to repay the mortgage loan.
2. The appraised value of any real estate or other item of property proposed as security for any mortgage loan.
3. Diversification of the financial institution’s investment portfolio.
[C79, 81, §535A.3]
Referred to in §535A.6
Structure Iowa Code
Chapter 535A - MORTGAGE LOANS — RED-LINING
Section 535A.2 - Discriminatory — real estate mortgages.
Section 535A.3 - Discretion of financial institution.
Section 535A.5 - Agency to administer.
Section 535A.6 - Action for damages.
Section 535A.7 - Criminal penalty.
Section 535A.8 - Civil penalty.