Iowa Code 535B.12 – Payment processing
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Terms Used In Iowa Code 535B.12
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- Mortgagee: The person to whom property is mortgaged and who has loaned the money.
535B.12 Payment processing.
A licensee or other mortgagee shall not assess a late charge if full payment is received
before the date late charges are authorized in the mortgage documents and shall post all periodic payments in full within two business days of receipt.
88 Acts, ch 1146, §12
Referred to in §535B.2, 535B.10
A licensee or other mortgagee shall not assess a late charge if full payment is received
before the date late charges are authorized in the mortgage documents and shall post all periodic payments in full within two business days of receipt.
88 Acts, ch 1146, §12
Referred to in §535B.2, 535B.10