Senate File 567 - Enrolled
Senate File 567
AN ACT
RELATING TO LOANS ORIGINATED BY MORTGAGE BANKERS.
2 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA:
1 Section 1. Section 535.8, subsection 2, Code 2021, is
2 amended to read as follows:
3 2. If a lender that is a financial institution as defined in
4 section 537.1301 or a mortgage banker licensed or registered
5 pursuant to chapter 535B makes a loan in which the points and
6 fees the borrower is charged by all lenders in connection with
7 the loan do not exceed the amounts specified in 12 C.F.R.
8 §1026.43(e)(3), the loan shall not be subject to the provisions
9 of subsection 4, paragraphs “a”, “b”, and “d”, or subsection
10 5. This subsection applies to the financial institution lender
 Senate File 567, p. 2
11 that originates the loan and to subsequent purchasers of the
12 loan originated by the financial institution.
______________________________ ______________________________
JAKE CHAPMAN PAT GRASSLEY
President of the Senate Speaker of the House
I hereby certify that this bill originated in the Senate and
is known as Senate File 567, Eighty-ninth General Assembly.
______________________________
W. CHARLES SMITHSON
Secretary of the Senate
Approved _______________, 2021 ______________________________
KIM REYNOLDS
Governor