Iowa Code 535D.4A – Exemptions
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Terms Used In Iowa Code 535D.4A
- following: when used by way of reference to a chapter or other part of a statute mean the next preceding or next following chapter or other part. See Iowa Code 4.1
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- Mortgage loan: A loan made by a lender to a borrower for the financing of real property. Source: OCC
535D.4A Exemptions.
This chapter does not apply to any of the following:
1. A registered mortgage loan originator when acting for an employer described in section
535D.3, subsection 12.
2. An individual who offers or negotiates terms of a residential mortgage loan with or on
behalf of an immediate family member of the individual.
3. An individual who offers or negotiates terms of a residential mortgage loan secured by
a dwelling that served as the individual’s residence.
4. A licensed attorney who negotiates the terms of a residential mortgage loan on behalf
of a client as an ancillary matter to the attorney’s representation of the client, unless the
attorney is compensated by a lender, a mortgage broker, or other mortgage loan originator
or by any agent of such lender, mortgage broker, or other mortgage loan originator.
5. A licensed manufactured housing retailer selling mobile, manufactured, or modular
homes, if the retailer only assists the consumer in filling out a loan application and does not
offer or negotiate loan rates or terms, and does not do any counseling with consumers about
residential mortgage loan rates or terms and does not receive any payment or fee from any
company or individual for assisting the consumer.
2009 Acts, ch 61, §5, 25; 2009 Acts, ch 179, §42
This chapter does not apply to any of the following:
1. A registered mortgage loan originator when acting for an employer described in section
535D.3, subsection 12.
2. An individual who offers or negotiates terms of a residential mortgage loan with or on
behalf of an immediate family member of the individual.
3. An individual who offers or negotiates terms of a residential mortgage loan secured by
a dwelling that served as the individual’s residence.
4. A licensed attorney who negotiates the terms of a residential mortgage loan on behalf
of a client as an ancillary matter to the attorney’s representation of the client, unless the
attorney is compensated by a lender, a mortgage broker, or other mortgage loan originator
or by any agent of such lender, mortgage broker, or other mortgage loan originator.
5. A licensed manufactured housing retailer selling mobile, manufactured, or modular
homes, if the retailer only assists the consumer in filling out a loan application and does not
offer or negotiate loan rates or terms, and does not do any counseling with consumers about
residential mortgage loan rates or terms and does not receive any payment or fee from any
company or individual for assisting the consumer.
2009 Acts, ch 61, §5, 25; 2009 Acts, ch 179, §42