Iowa Administrative Code

15.10(1) The superintendent may, at any time and as often as the superintendent deems necessary, investigate or examine a licensee pursuant to Iowa Code section 536.10, including investigating complaints about, or alleged violations by, any licensee. 15.10(2) A complaint or alleg…

15.11(1) Grounds for discipline. The superintendent may impose any of the disciplinary sanctions set out in Iowa Code section 536.9(2) when the superintendent makes any of the findings in Iowa Code section 536.9(1) or when the superintendent finds any of the following: a. The lic…

Licensees must file with the superintendent an annual report as required by Iowa Code section 536.11(2), and the superintendent may assess a late fee of $10 for each day a licensee’s annual report is delinquent. The information contained in the annual report is confidential, and …

The following restrictions apply to making regulated loans. 15.13(1) Jurisdiction. A licensee has the authority to make and complete loans by mail, or by comparable electronic means, from the lender’s licensed office. 15.13(2) Default charge. Default charges are not to be collect…

15.2(1) All application and licensing information shall be submitted through NMLS, including but not limited to the following: original application information; changes in application information; license renewal information; changes in name, location, and control; and notices of…

15.3(1) An application for a license to operate a regulated loan business in Iowa shall be submitted to the superintendent, on the form provided and with the information requested, through NMLS. The superintendent may consider an application withdrawn if it does not contain all r…

15.4(1) The superintendent shall approve or deny a license application in accordance with the provisions of Iowa Code section 536.4. 15.4(2) The following may be considered evidence that the business of the applicant may not be operated lawfully and honestly within the purposes o…

15.5(1) A licensee must renew a license before the expiration date of the license to remain authorized to make regulated loans. A license expires on the next December 31 after the license is issued, but a license granted on or after November 1 but before January 1 does not expire…

15.6(1) A licensee wishing to change the name or location of a regulated loan business shall notify the superintendent through NMLS at least 30 days prior to the effective date of the requested change and submit the appropriate fee. The notice shall include proof that the license…

A licensee shall notify the administrator in writing within ten days of the occurrence of any of the following events: 15.7(1) The licensee or any of the licensee’s officers, directors, principal stockholders, or affiliates file for bankruptcy protection. 15.7(2) A prosecuting au…

15.8(1) Late fees for failing to respond. In the process of administering Iowa Code chapter 536, the superintendent may require a person to provide a response to a formal order, an examination, or a complaint inquiry. If the person fails to respond within 30 days of the request, …

15.9(1) General records requirements. A licensee must keep records that allow the superintendent to determine the licensee’s compliance with relevant statutes and regulations. a. The licensee may keep the records as a hard copy or in an electronic equivalent. b. The licensee shal…

For the purposes of this chapter, the definitions in Iowa Code chapter 536A shall apply. In addition, unless the context otherwise requires: “Industrial loan” means a loan made by a licensee acting under the terms of the Iowa industrial loan law. “Industrial loan business” means …

16.10(1) The superintendent may, at any time and as often as the superintendent deems necessary, investigate or examine a licensee pursuant to Iowa Code section 536.10, including investigating complaints about, or alleged violations by, any licensee. 16.10(2) A complaint or alleg…

16.11(1) Grounds for discipline. The superintendent may impose any of the disciplinary sanctions set out in Iowa Code section 536A.18(2) when the superintendent makes any of the findings in Iowa Code section 536A.18(1) or when the superintendent finds any of the following: a. The…

Licensees must file with the superintendent an annual report as required by Iowa Code section 536.11(2), and the superintendent may assess a late fee of $10 for each day a licensee’s annual report is delinquent. The information contained in the annual report is confidential, and …

The following restrictions apply to making industrial loans. 16.13(1) Jurisdiction. A licensee has the authority to make and complete loans by mail, or by comparable electronic means, from the lender’s licensed office. 16.13(2) Default charge. Default charges are not to be collec…

16.2(1) All application and licensing information shall be submitted through NMLS, including but not limited to the following: original application information; changes in application information; license renewal information; changes in name, location, and control; and notices of…

16.3(1) An application for a license to engage in the business of operating an industrial loan company in Iowa shall be submitted to the superintendent, on the form provided and with the information requested, through NMLS. The superintendent may consider an application withdrawn…

16.4(1) The superintendent shall approve or deny a license application in accordance with the provisions of Iowa Code sections 536A.10 and 536A.11. 16.4(2) The following may be considered evidence that the business of the applicant may not be operated lawfully and honestly within…

16.5(1) A licensee must renew a license before the expiration date of the license to remain authorized to make industrial loans. A license expires on the next December 31 after the license is issued, but a license granted on or after November 1 but before January 1 does not expir…

16.6(1) A licensee wishing to change the name or location of an industrial loan business shall notify the superintendent through NMLS at least 30 days prior to the effective date of the change and submit the appropriate fee. The notice shall include proof that the licensee has ei…

A licensee shall notify the administrator in writing within ten days of the occurrence of any of the following events: 16.7(1) The licensee or any of the licensee’s officers, directors, principal stockholders, or affiliates file for bankruptcy protection. 16.7(2) A prosecuting au…

16.8(1) Late fees for failing to respond. In the process of administering this chapter, the superintendent may require a person to provide a response to a formal order, an examination, or a complaint inquiry. If the person fails to respond within 30 days of the request, the super…

16.9(1) General records requirements. A licensee must keep records that allow the superintendent to determine the licensee’s compliance with relevant statutes and regulations. a. The licensee may keep the records as a hard copy or in an electronic equivalent. b. The licensee shal…

For the purposes of this chapter, the definitions in Iowa Code chapter 533D shall apply. In addition, unless the context otherwise requires: “Delayed deposit transactions” means the activities of a “delayed deposit services business” as defined in Iowa Code section 533D.2(2). “Ma…

17.10(1) The superintendent may, at any time and as often as the superintendent deems necessary, investigate or examine a licensee pursuant to Iowa Code section 533D.11, including investigating complaints about, or alleged violations by, any licensee. 17.10(2) A complaint or alle…

17.11(1) Grounds for discipline. The superintendent may impose any of the disciplinary sanctions set out in Iowa Code section 533D.12(2) when the superintendent makes any of the findings in Iowa Code section 533D.12(1) or when the superintendent finds any of the following: a. The…

Licensees must file with the superintendent an annual report, on forms prescribed by the superintendent, on or before April 15. The information contained in the annual report shall be confidential, and the superintendent may publish the information only in composite form. The sup…

A licensee shall not enter into a new delayed deposit transaction with a maker on the same day the maker pays an existing delayed deposit transaction with the licensee unless: 17.13(1) The aggregate amount of the check(s) the maker is paying and the new check the maker is writing…

17.2(1) All application and licensing information shall be submitted through NMLS, including but not limited to the following: original application information; changes in application information; license renewal information; changes in name, location, and control; and notices of…

17.3(1) An application for a license to operate a delayed deposit services business in Iowa shall be submitted to the superintendent, on the form provided and with the information requested, through NMLS. The superintendent may consider an application withdrawn if it does not con…

17.4(1) The superintendent shall approve or deny a license application in accordance with the provisions of Iowa Code section 533D.3. 17.4(2) The following may be considered evidence that the business of the applicant may not be operated lawfully and honestly consistent with the …

17.5(1) A licensee must renew a license before the expiration date of the license to remain authorized to conduct delayed deposit transactions. Licenses expire on the next December 31 after they are issued, but licenses granted on or after November 1 but before January 1 do not e…

17.6(1) A licensee wishing to change the name or location of a delayed deposit services business shall notify the superintendent at least 30 days prior to the requested change and submit the fee specified in Iowa Code sections 533D.7 and 533D.7A. The request shall include proof t…

17.8(1) Late fees for failing to respond. In the process of administering this chapter, the superintendent may require a person to provide responses to formal orders, examinations, or complaint inquiries. If a person fails to respond within 30 days of the request, the superintend…

17.9(1) General record requirements. A licensee must keep records that allow the superintendent to determine the licensee’s compliance with relevant statutes and regulations. a. The licensee may keep the records as a hard copy or in an electronic equivalent. b. The licensee shall…

For the purposes of this chapter, the definitions in Iowa Code chapter 535B shall apply. In addition, unless the context otherwise requires: “Mortgage loan originator” means a natural person who is licensed under Iowa Code chapter 535D and 187—Chapter 19. “Nationwide multistate l…

Each mortgage banker and mortgage broker licensee shall submit the reports specified in Iowa Code section 535B.18, and the administrator may assess late fees of $10 per day for each day after the NMLS-established due date that the report is not received. [ARC 0590D, IAB 9/16/26, …

18.11(1) Any advertisement of mortgage loans offered by or through a mortgage banker or mortgage broker licensee shall: a. Comply with Truth-in-Lending Act, Regulation Z, and any other applicable state and federal laws and regulations. b. Be made only for such products and terms …

18.12(1) The administrator may, at any time and as often as the administrator deems necessary, investigate or examine a licensee pursuant to Iowa Code section 535B.10, including investigating complaints about, or alleged violations by, any licensee. 18.12(2) A complaint or allege…

18.13(1) Grounds for discipline. The administrator may impose any of the disciplinary sanctions set out in Iowa Code section 535B.7(2) when the superintendent makes any of the findings in Iowa Code section 535B.7(1) or when the administrator finds any of the following: a. The lic…

18.14(1) A closing agent shall establish and maintain a separate subsidiary ledger for each real estate transaction for which the closing agent performs real estate closing services. 18.14(2) A closing agent shall prepare a trial balance for each trust account and each subsidiary…

A licensed closing agent shall comply with the following closing standards: 18.15(1) Read and comply with all closing instructions from the parties to the transaction. 18.15(2) Disburse or deliver funds only in accordance with closing instructions from the lender, the attorney’s …

18.16(1) A closing agent shall exercise diligence in hiring practices, including policies regarding background investigations, and conduct a background investigation and credit check for each employee responsible for handling funds. 18.16(2) A closing agent shall provide appropri…

If a closing agent detects defalcation regarding the closing agent’s trust account funds, the closing agent must file the following notice with the division of banking within three days of discovering the defalcation: “We have detected circumstances regarding our trust account fu…

A real estate broker performing real estate closing services is eligible for the exemption in Iowa Code section 535B.2(6) only when performing real estate closing services on a transaction in which the broker’s brokerage represents one of the parties to the transaction and the cl…