reglab/housing_qa huggingface dataset:
IA Code § 535D.14 (2021)
2021 Iowa Code|Title XIII - COMMERCE|Chapter 535D - MORTGAGE LICENSING ACT|Section 535D.14 - Surety bond required or recovery fund.

535D.14 Surety bond required or recovery fund.   1. a. A mortgage loan originator shall be covered by a surety bond in accordance with this section unless the superintendent establishes a recovery fund pursuant to subsection 4 into which the mortgage loan originator makes payments. In the event that the mortgage loan originator is an employee or exclusive agent of a person subject to chapter 535B, 536, or 536A, the surety bond of such person can be used in lieu of the mortgage loan originator’s surety bond requirement.   b. The surety bond shall provide coverage for each mortgage loan originator in an amount as prescribed in subsection 2. The surety bond shall be in a form as prescribed by the superintendent. The superintendent may, pursuant to rule, determine requirements for such surety bonds as are necessary to accomplish the purposes of this chapter.   2. The bond shall be maintained in an amount that reflects the dollar value of loans originated as determined by the superintendent.   3. When an action is commenced on a licensee’s bond the superintendent may require the filing of a new bond. Immediately upon recovery upon any action on the bond the licensee shall file a new bond.   4. If the superintendent determines it is not feasible to establish surety bonding requirements that reflect the dollar amount of loans originated by a mortgage loan originator, as provided in subsection 1508(d)(6) of the federal Housing and Economic Recovery Act of 2008, Pub. L. No. 110-289, the superintendent may establish by rule a recovery fund to be paid into by mortgage loan originators. The rules shall provide for the amounts to be paid into the fund by mortgage loan originators. In the event the superintendent establishes a recovery fund, the fund shall be established as a separate fund in the state treasury. Moneys deposited in the fund shall be administered by the superintendent and used for the purposes of compensating members of the public for losses caused by licensees. In addition, the superintendent may use moneys from the fund for the purpose of investigating and prosecuting violations of this chapter or any other state or federal law, rule, or regulation applicable to the conduct of a licensee’s business. Notwithstanding section 12C.7, interest earned on amounts deposited in the fund, if established, shall be credited to the fund. Any balance in the fund on June 30 of any fiscal year shall not revert to the general fund of the state.  2009 Acts, ch 61, §15, 25  Referred to in §535D.6
IA Code § 535D.15 (2021)
2021 Iowa Code|Title XIII - COMMERCE|Chapter 535D - MORTGAGE LICENSING ACT|Section 535D.15 - Confidentiality.

535D.15 Confidentiality.   1. Except as otherwise provided by this chapter, all papers, documents, examination reports, and other writings relating to the supervision of licensees are not public records and are not subject to disclosure under chapter 22. Except as otherwise provided in section 1512 of the federal Housing and Economic Recovery Act of 2008, Pub. L. No. 110-289, the requirements under any federal law or chapter 22 or 692 regarding the privacy or confidentiality of any information or material provided to the nationwide mortgage licensing system and registry, and any privilege arising under federal or state law, including the rules of any federal or state court, with respect to such information or material, shall continue to apply to such information or material after the information or material has been disclosed to the nationwide mortgage licensing system and registry. Such information and material may be shared with any state or federal regulatory official with mortgage industry oversight authority without the loss of privilege or the loss of confidentiality protections provided by federal law or chapter 22 or 692.   2. The superintendent may enter into agreements or sharing arrangements with other governmental agencies, the conference of state bank supervisors, the American association of residential mortgage regulators, or other associations representing governmental agencies.   3. Information or material that is subject to privilege or confidentiality under subsection 1 shall not be subject to any of the following:   a. Disclosure under any federal or state law governing the disclosure to the public of information held by an officer or an agency of the federal government or this state.   b. Subpoena or discovery, or admission into evidence, in any private civil action or administrative process, unless with respect to any privilege held by the nationwide mortgage licensing system and registry with respect to such information or material, the person to whom such information or material pertains waives, in whole or in part, that privilege.   4. This section supersedes any provision of chapter 22 relating to the disclosure of confidential supervisory information or any information or material described in subsection 1 of this section that is inconsistent with subsection 1.   5. This section shall not apply with respect to information or material relating to the employment history of, and publicly adjudicated disciplinary and enforcement actions against, mortgage loan originators that are included in the nationwide mortgage licensing system and registry for access by the public.  2009 Acts, ch 61, §16, 25; 2013 Acts, ch 5, §19  Referred to in §535D.18
IA Code § 535D.17 (2021)
2021 Iowa Code|Title XIII - COMMERCE|Chapter 535D - MORTGAGE LICENSING ACT|Section 535D.17 - Prohibited acts and practices.

535D.17 Prohibited acts and practices.   It is a violation of this chapter for a person or individual subject to this chapter to engage in any of the following activities:   1. Directly or indirectly employ any scheme, device, or artifice to defraud or mislead borrowers or lenders or to defraud any person.   2. Engage in any unfair or deceptive practice toward any person.   3. Obtain property by fraud or misrepresentation.   4. Solicit or enter into a contract with a borrower that provides in substance that the person or individual subject to this chapter may earn a fee or commission through best efforts to obtain a loan even though no loan is actually obtained for the borrower.   5. Solicit, advertise, or enter into a contract for specific interest rates, points, or other financing terms unless the terms are actually available at the time of soliciting, advertising, or contracting.   6. Conduct any business covered by this chapter without holding a valid license as required under this chapter, or assist or aid and abet any person in the conduct of business under this chapter without a valid license as required under this chapter.   7. Fail to make disclosures as required by this chapter or any other applicable state or federal law including regulations thereunder.   8. Fail to comply with this chapter or rules or regulations promulgated under this chapter, or fail to comply with any other state or federal law, including the rules and regulations thereunder, applicable to any business authorized or conducted under this chapter.   9. Make, in any manner, any false or deceptive statement or representation.   10. Negligently make any false statement or knowingly and willfully make any omission of material fact in connection with any information or reports filed with a governmental agency or the nationwide mortgage licensing system and registry or in connection with any investigation conducted by the superintendent or another governmental agency.   11. Make any payment, threat, or promise, directly or indirectly, to any person for the purposes of influencing the independent judgment of the person in connection with a residential mortgage loan, or make any payment, threat, or promise, directly or indirectly, to any appraiser of a property, for the purposes of influencing the independent judgment of the appraiser with respect to the value of the property.   12. Collect, charge, attempt to collect or charge, or use or propose any agreement purporting to collect or charge any fee prohibited by this chapter.   13. Cause or require a borrower to obtain property insurance coverage in an amount that exceeds the replacement cost of the improvements as established by the property insurer.   14. Fail to truthfully account for moneys belonging to a party to a residential mortgage loan transaction.  2009 Acts, ch 61, §18, 25  Referred to in §535B.7A
IA Code § 535D.18 (2021)
2021 Iowa Code|Title XIII - COMMERCE|Chapter 535D - MORTGAGE LICENSING ACT|Section 535D.18 - Report to nationwide mortgage licensing system and registry.

535D.18 Report to nationwide mortgage licensing system and registry.   The superintendent shall regularly report violations of this chapter, as well as enforcement actions and other relevant information, to the nationwide mortgage licensing system and registry, subject to the confidentiality provisions of section 535D.15.  2009 Acts, ch 61, §19, 25
IA Code § 535D.19 (2021)
2021 Iowa Code|Title XIII - COMMERCE|Chapter 535D - MORTGAGE LICENSING ACT|Section 535D.19 - Unique identifier shown.

535D.19 Unique identifier shown.   The unique identifier of any person originating a residential mortgage loan shall be clearly shown on all residential mortgage loan application forms, solicitations, or advertisements, including business cards or internet sites, and any other documents as established by rule, regulation, or order of the superintendent.  2009 Acts, ch 61, §20, 25; 2013 Acts, ch 90, §257
IA Code § 535D.20 (2021)
2021 Iowa Code|Title XIII - COMMERCE|Chapter 535D - MORTGAGE LICENSING ACT|Section 535D.20 - Operating without a license — penalty.

535D.20 Operating without a license — penalty.   A person who, without first obtaining a license under this chapter, engages in the business or occupation of, or advertises or holds the person out as, or claims to be, or temporarily acts as, a mortgage loan originator in this state is guilty of a class “D” felony and may be prosecuted by the attorney general or a county attorney.  2009 Acts, ch 61, §21, 25
IA Code § 535D.21 (2021)
2021 Iowa Code|Title XIII - COMMERCE|Chapter 535D - MORTGAGE LICENSING ACT|Section 535D.21 - Administrative authority.

535D.21 Administrative authority.   The superintendent shall have broad administrative authority to administer, interpret, and enforce this chapter and to promulgate rules implementing this chapter.  2009 Acts, ch 61, §22, 25
IA Code § 535D.22 (2021)
2021 Iowa Code|Title XIII - COMMERCE|Chapter 535D - MORTGAGE LICENSING ACT|Section 535D.22 - Compliance with federal law.

535D.22 Compliance with federal law.   If the United States department of housing and urban development determines in writing that any provision of this chapter or its application to any person or circumstance is invalid under Tit. V of the federal Housing and Economic Recovery Act of 2008, Pub. L. No. 110-289, the superintendent is authorized to adopt rules which waive or modify, in whole or in part, requirements of this chapter as necessary to achieve a determination by the United States department of housing and urban development that this state is in compliance with the federal law.  2009 Acts, ch 61, §23, 25
IA Code § 535D.23 (2021)
2021 Iowa Code|Title XIII - COMMERCE|Chapter 535D - MORTGAGE LICENSING ACT|Section 535D.23 - Reports of condition required — exceptions.

535D.23 Reports of condition required — exceptions.   Each mortgage loan originator licensee shall submit reports of condition to the nationwide mortgage licensing system and registry unless the mortgage loan originator’s activity is included in a report submitted by the mortgage loan originator’s employer in accordance with section 535B.11, subsection 3, section 535B.18, or section 536A.14, subsection 2. The reports shall be in such form and shall contain such information as the nationwide mortgage licensing system and registry may require.  2011 Acts, ch 102, §9
IA Code § 536.1 (2021)
2021 Iowa Code|Title XIII - COMMERCE|Chapter 536 - REGULATED LOANS|Section 536.1 - Title — license required.

536.1 Title — license required.   1. This chapter may be referred to as the “Iowa Regulated Loan Act”.   2. With respect to a loan other than a consumer loan, a person shall not engage in the business of making loans of money, credit, goods, or things in action in the amount or of the value of the threshold amount or less and charge, contract for, or receive on the loan a greater rate of interest or consideration for the loan than the lender would be permitted by law to charge if the lender were not a licensee under this chapter except as authorized by this chapter and without first obtaining a license from the superintendent of banking.   3. With respect to a consumer loan, a person required by section 537.2301 to have a license shall not engage in the business of making loans of money, credit, goods or things in action in the amount or value of the threshold amount or less and charge, contract for, or receive on the loan a greater rate of interest or consideration for the loan than the lender would be permitted by law to charge if the lender were not a licensee under this chapter, except as authorized by this chapter and without first obtaining a license from the superintendent.   4. A person who enters into less than ten supervised loans per year in this state and who neither has an office physically located in this state nor engages in face-to-face solicitation in this state may contract for and receive the rate of interest permitted in this chapter for licensees under this chapter.   5. For the purposes of this section:   a. “Consumer loan” means the same as defined in section 537.1301.   b. “Threshold amount” means the same as defined in section 537.1301.  [C24, 27, 31, §9410; C35, §9438-f1; C39, §9438.01; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §536.1]  85 Acts, ch 158, §2; 2014 Acts, ch 1037, §8; 2015 Acts, ch 30, §171  Referred to in §536.10, 536.13, 536.19
IA Code § 536.2 (2021)
2021 Iowa Code|Title XIII - COMMERCE|Chapter 536 - REGULATED LOANS|Section 536.2 - Application — fees.

536.2 Application — fees.   1. An application for a license shall be in the form prescribed by the superintendent, and shall contain all of the following:   a. The name and the address, both of the residence and place of business, of the applicant. If the applicant is not a natural person, the application shall include the name and address of every member, director, officer, manager, and trustee of the applicant.   b. The county and municipality with street and number, if any, of the place where the business of making loans under the provisions of this chapter is to be conducted.   c. Other relevant information as the superintendent may require.   2. The applicant at the time of making the application shall pay to the superintendent the sum of one hundred dollars as a fee for investigating the application and the additional sum of two hundred fifty dollars as an annual license fee.   3. Every applicant shall also prove, in form satisfactory to the superintendent, that the applicant has available for the operation of such business at the place of business specified in the application, liquid assets of at least five thousand dollars, or that the applicant has at least the said amount actually in use in the conduct of such business at such place of business.  [C24, 27, 31, §9411, 9412; C35, §9438-f2; C39, §9438.02; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §536.2]  89 Acts, ch 257, §27; 2006 Acts, ch 1042, §33  Referred to in §536.4, 536.8, 536.22
IA Code § 536.3 (2021)
2021 Iowa Code|Title XIII - COMMERCE|Chapter 536 - REGULATED LOANS|Section 536.3 - Bond.

536.3 Bond.   An applicant for a license shall file with the superintendent a bond furnished by a surety company authorized to do business in this state. Until such time as the superintendent through the administrative rule process determines a bond amount that reflects the dollar value of loans originated, the bond shall be in the amount of twenty-five thousand dollars. The bond shall be continuous in nature until canceled by the surety with not less than thirty days’ notice in writing to the licensee and to the superintendent indicating the surety’s intention to cancel the bond on a specific date. The bond shall be for the use of the state and any persons who may have causes of action against the applicant. The bond shall be conditioned upon the applicant’s faithfully conforming to and abiding by this chapter and any rules adopted under this chapter and shall require that the surety pay to the state and to any persons all moneys that become due or owing to the state and to the persons from the applicant by virtue of this chapter.  [C24, 27, 31, §9413, 9414; C35, §9438-f3; C39, §9438.03; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §536.3]  2008 Acts, ch 1160, §25; 2009 Acts, ch 61, §40, 47  Referred to in §536.6
IA Code § 536.4 (2021)
2021 Iowa Code|Title XIII - COMMERCE|Chapter 536 - REGULATED LOANS|Section 536.4 - Grant or refusal of license.

536.4 Grant or refusal of license.   1. Upon the filing of such application, the approval of such bond and the payment of such fees, the superintendent shall make a thorough and complete investigation of the facts as the superintendent may deem necessary or proper.   2. If the superintendent shall determine from such application and from such investigation that the applicant can have a reasonable expectancy of a successful lending business at the location of the office for which application is made, and that there is a real need and necessity in that community for additional lending facilities to adequately serve the local people, and that said applicant is one who will command the respect of and confidence from the people in that community; that the financial responsibility, experience, character, and general fitness of the applicant, and of the members thereof if the applicant be a partnership or association, and of the officers and directors thereof if the applicant be a corporation, are such as to warrant the belief that the business will be operated lawfully, honestly, fairly, and efficiently within the purposes of this chapter, and if the superintendent shall find that the applicant has available or actually in use the assets described in section 536.2, the superintendent shall thereupon issue and deliver a license to the applicant to make loans in accordance with the provisions of this chapter at the place of business specified in the said application; if the superintendent shall not so find the superintendent shall not issue such license and the superintendent shall notify the applicant of the denial and return to the applicant the bond and the sum paid by the applicant as a license fee, retaining the investigation fee to cover the costs of investigating the application. The superintendent shall approve or deny every application for a license under this chapter within sixty days from the filing of the application and the approved bond and the payment of the said fees.   3. If the application is denied, the superintendent shall within twenty days thereafter file with the banking division a written transcript of the evidence and decision and findings with respect thereto containing the reasons supporting the denial, and forthwith serve upon the applicant a copy thereof.  [C24, 27, 31, §9415; C35, §9438-f4; C39, §9438.04; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §536.4]  2005 Acts, ch 3, §90; 2008 Acts, ch 1032, §106; 2020 Acts, ch 1063, §308  Subsection 2 amended
IA Code § 536.5 (2021)
2021 Iowa Code|Title XIII - COMMERCE|Chapter 536 - REGULATED LOANS|Section 536.5 - License — form — posting.

536.5 License — form — posting.   Such license shall state the address of the place where the business of making such loans is to be conducted and shall state fully the name of the licensee, and if the licensee is a partnership or association, the names of the members thereof, and if a corporation, the date and place of its incorporation. Such license shall be kept conspicuously posted in such place of business and shall not be transferable or assignable.  [C24, 27, 31, §9411, 9418; C35, §9438-f5; C39, §9438.05; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §536.5]  2008 Acts, ch 1032, §106
IA Code § 536.6 (2021)
2021 Iowa Code|Title XIII - COMMERCE|Chapter 536 - REGULATED LOANS|Section 536.6 - Additional bond — available assets.

536.6 Additional bond — available assets.   1. If the superintendent finds at any time that the bond is insecure or exhausted or otherwise of doubtful validity or collectibility, an additional bond to be approved by the superintendent, with one or more sureties and of the character specified in section 536.3, in a sum not to exceed that amount determined pursuant to section 536.3, shall be filed by the licensee within ten days after written demand upon the licensee by the superintendent.   2. Every licensee shall have available at all times for each licensed place of business at least five thousand dollars in assets, either in liquid form or actually in use in the conduct of such business.  [C24, 27, 31, §9437; C35, §9438-f6; C39, §9438.06; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §536.6]  2008 Acts, ch 1160, §26; 2009 Acts, ch 61, §41, 47
IA Code § 536.7 (2021)
2021 Iowa Code|Title XIII - COMMERCE|Chapter 536 - REGULATED LOANS|Section 536.7 - Separate license — change of name or place of business.

536.7 Separate license — change of name or place of business.   1. Only one place of business where loans are made shall be maintained under a license. However, the superintendent may issue more than one license to the same licensee upon compliance, for each such additional license, with all the provisions of this chapter governing an original issuance of a license.   2. A licensee shall notify the superintendent and submit a fee of twenty-five dollars per license to the superintendent thirty days in advance of the effective date of any of the following:   a. A change in the name of the licensee.   b. A change in the address of the location where the business is conducted.  [C24, 27, 31, §9416, 9419; C35, §9438-f7; C39, §9438.07; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §536.7]  2006 Acts, ch 1042, §34
IA Code § 536.7A (2021)
2021 Iowa Code|Title XIII - COMMERCE|Chapter 536 - REGULATED LOANS|Section 536.7A - Change in control — approval.

536.7A Change in control — approval.   The prior written approval of the superintendent is required whenever a change in control of the licensee is proposed. For purposes of this section, “control” means control as defined in section 524.103. The superintendent may require information deemed necessary to determine whether a new application is required. When requesting approval, the person shall submit a fee of one hundred dollars to the superintendent.  2006 Acts, ch 1042, §35
IA Code § 536.8 (2021)
2021 Iowa Code|Title XIII - COMMERCE|Chapter 536 - REGULATED LOANS|Section 536.8 - Annual fee — payment.

536.8 Annual fee — payment.   Every licensee shall annually, on or before December 1, submit a renewal application on forms prescribed by the superintendent and pay to the superintendent the sum as provided in section 536.2 as an annual license fee for the next succeeding calendar year. The superintendent may assess a late fee of ten dollars per day, per license for renewal applications received after December 1.  [C35, §9438-f8; C39, §9438.08; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §536.8]  2006 Acts, ch 1042, §36