Iowa § 535A.3 Discretion of financial institution

Iowa Statutes

§ 535A.3 — Discretion of financial institution

Iowa § 535A.3

Title XIIICOMMERCE

Ch. 535AMORTGAGE LOANS — RED-LINING

This text of Iowa § 535A.3 (Discretion of financial institution) is published on Counsel Stack Legal Research, covering Iowa primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Iowa Code § 535A.3 (2026).

Text

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. §535A.3, MORTGAGE LOANS — RED-LINING 2

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.

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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.
§535A.3, MORTGAGE LOANS — RED-LINING 2
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.