Iowa § 535D.2 Legislative findings and purpose

Iowa Statutes

§ 535D.2 — Legislative findings and purpose

Iowa § 535D.2

Title XIIICOMMERCE

Ch. 535DMORTGAGE LICENSING ACT

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Bluebook

Iowa Code § 535D.2 (2026).

Text

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

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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.