535D.2 Legislative findings and purpose.
The activities of mortgage loan originators and the origination or offering of financing for residential real property have a direct, valuable, and immediate impact upon this state’s consumers, its economy, the neighborhoods and communities of this state, and the housing and real estate industry. The general assembly finds that accessibility to mortgage credit is vital to the state’s citizens. The general assembly also finds that it is essential for the protection of the citizens of this state and the stability of the state’s economy that reasonable standards for licensing and regulation of the business practices of mortgage loan originators be imposed. The general assembly further finds that the obligations of mortgage loan originators to consumers in connection with originating or making residential mortgage loans are such as to warrant the regulation of the mortgage lending process. The purpose of this chapter is to protect consumers seeking mortgage loans and to ensure that the mortgage lending industry is operating without unfair, deceptive, or fraudulent practices on the part of mortgage loan originators.
2009 Acts, ch 61, §2, 25
Structure Iowa Code
Chapter 535D - MORTGAGE LICENSING ACT
Section 535D.2 - Legislative findings and purpose.
Section 535D.4 - License and registration required.
Section 535D.5 - License and registration — application and issuance.
Section 535D.6 - Conditions of licensure.
Section 535D.7 - Prelicensing education of loan originators.
Section 535D.8 - Test requirements.
Section 535D.9 - Standards for license renewal and nonrenewal.
Section 535D.10 - Continuing education.
Section 535D.11 - Duties and powers of superintendent.
Section 535D.12 - Nationwide mortgage licensing system and registry information — challenge process.
Section 535D.13 - Disciplinary action and civil enforcement authority.
Section 535D.14 - Surety bond required or recovery fund.
Section 535D.15 - Confidentiality.
Section 535D.16 - Investigation and examination authority.
Section 535D.17 - Prohibited acts and practices.
Section 535D.18 - Report to nationwide mortgage licensing system and registry.
Section 535D.19 - Unique identifier shown.
Section 535D.20 - Operating without a license — penalty.
Section 535D.21 - Administrative authority.
Section 535D.22 - Compliance with federal law.
Section 535D.23 - Reports of condition required — exceptions.