Prompt crediting of payment on loans secured by residential real property.

A lender is subject to the requirements set forth in section 537.3206 , regarding the prompt crediting of payments, with respect to a loan secured by a lien or security interest on owner-occupied residential real property. For purposes of this section , “residential real property” means residential real property as defined in section 535B.1 . 99 Acts, ch 15, §2