Bill Text: IA HF609 | 2023-2024 | 90th General Assembly | Enrolled
Bill Title: A bill for an act relating to specified loans provided by a mortgage banker. (Formerly HSB 174.) Effective date: 07/01/2023.
Spectrum: Committee Bill
Status: (Passed) 2023-05-11 - Signed by Governor. H.J. 1041. [HF609 Detail]
Download: Iowa-2023-HF609-Enrolled.html
House
File
609
-
Enrolled
House
File
609
AN
ACT
RELATING
TO
SPECIFIED
LOANS
PROVIDED
BY
A
MORTGAGE
BANKER.
BE
IT
ENACTED
BY
THE
GENERAL
ASSEMBLY
OF
THE
STATE
OF
IOWA:
Section
1.
Section
535.8,
subsection
2,
Code
2023,
is
amended
to
read
as
follows:
2.
If
a
lender
that
is
a
financial
institution
as
defined
in
section
537.1301
makes
a
loan
in
which
the
points
and
fees
the
borrower
is
charged
by
all
lenders
in
connection
with
the
loan
do
not
exceed
the
amounts
specified
in
12
C.F.R.
§1026.43(e)(3),
the
loan
shall
not
be
subject
to
the
provisions
of
subsection
4
,
paragraphs
“a”
,
“b”
,
and
“d”
,
or
subsection
5
.
If
a
lender
that
is
a
mortgage
banker
licensed
under
section
535B.5
or
registered
under
section
535B.3
makes
a
loan
in
which
the
points
and
fees
the
borrower
is
charged
by
all
lenders
in
connection
with
the
loan
do
not
exceed
the
amounts
specified
in
12
C.F.R.
§1026.43(e)(3),
the
loan
shall
not
be
subject
to
the
provisions
of
subsection
5.
This
subsection
applies
to
the
financial
institution
lender
that
originates
the
loan
and
to
House
File
609,
p.
2
subsequent
purchasers
of
the
loan
originated
by
the
financial
institution.
______________________________
PAT
GRASSLEY
Speaker
of
the
House
______________________________
AMY
SINCLAIR
President
of
the
Senate
I
hereby
certify
that
this
bill
originated
in
the
House
and
is
known
as
House
File
609,
Ninetieth
General
Assembly.
______________________________
MEGHAN
NELSON
Chief
Clerk
of
the
House
Approved
_______________,
2023
______________________________
KIM
REYNOLDS
Governor
