Iowa 2021-2022 Regular Session Status: Enacted

SF 567 — A bill for an act relating to loans originated by mortgage bankers. (Formerly SSB 1235.)

Last action — Vetoed by Governor.

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  1. ✓
    Introduced
  2. ✓
    In Committee
  3. ✓
    Passed Senate
  4. ✓
    Passed House
  5. ✓
    To Executive
  6. 6
    Enacted

This bill has been enacted into law. Introduced March 08, 2021. Enacted.

Prognosis

Not enough signal yet

Where this bill stands today.

Odds of enactment

High

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Not enough signal yet to read this bill's trajectory — we surface a likelihood only once there's real movement (stage, sponsorship, committee, or votes) to point to.

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Bill Text

What changed in the latest version

16 added · 26 removed

16 line(s) added, 26 removed.

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Senate File 567 - Introduced SENATE FILE 567 BY COMMITTEE ON COMMERCE (SUCCESSOR TO SSB 1235) A BILL FOR An Act relating to loans originated by mortgage bankers.
Senate File 567 - Enrolled Senate File 567 AN ACT RELATING TO LOANS ORIGINATED BY MORTGAGE BANKERS.
TLSB 2413SV (2) 89 jda/rn S.F.
Section 1.
567 Section 1.
This subsection applies to the financial institution lender that originates the loan and to subsequent purchasers of the loan originated by the financial institution.
This subsection applies to the financial institution lender Senate File 567, p.
EXPLANATION The inclusion of this explanation does not constitute agreement with the explanation’s substance by the members of the general assembly.
2 that originates the loan and to subsequent purchasers of the loan originated by the financial institution.
This bill relates to loans originated by mortgage bankers.
______________________________ ______________________________ JAKE CHAPMAN PAT GRASSLEY President of the Senate Speaker of the House I hereby certify that this bill originated in the Senate and is known as Senate File 567, Eighty-ninth General Assembly.
The bill provides that if a lender that is a financial institution or a mortgage banker licensed or registered pursuant to Code chapter 535B makes a loan in which the points and fees the borrower is charged in connection with the loan do not exceed the amounts specified in 12 C.F.R.
______________________________ W.
§1026.43(e)(3), the loan shall not be subject to the provisions of Code section 535.8, subsection 4, paragraphs “a”, “b”, and “d” (providing for additional fees and the right to recover unlawful fees), or subsection 5 (authorizing the lender to offer to make a loan on all of the same terms except at a lower interest rate in exchange for the payment of an interest reduction fee).
CHARLES SMITHSON Secretary of the Senate Approved _______________, 2021 ______________________________ KIM REYNOLDS Governor
LSB 2413SV (2) 89 -1- jda/rn 1/1
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Action History

  1. Vetoed by Governor.

  2. Reported correctly enrolled, signed by President and Speaker, and sent to Governor.

  3. Explanation of vote.

  4. Message from House.

  5. Explanation of vote.

  6. Immediate message.

  7. Passed House, yeas 92, nays none.

  8. Placed on calendar under unfinished business.

  9. Committee report, recommending passage.

  10. Subcommittee recommends passage. Vote Total: 3-0

  11. Subcommittee Meeting: 03/29/2021 12:00PM House Lounge.

  12. Subcommittee: Nordman, Andrews and Meyer, B..

  13. Read first time, referred to Commerce.

  14. Message from Senate.

  15. Immediate message.

  16. Passed Senate, yeas 48, nays 0.

  17. Committee report, approving bill.

  18. Introduced, placed on calendar.

Sponsorship breakdown

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0 sponsors · 0 co-sponsors · 150 not signed on

Sponsors (0)

None.

Co-sponsors (0)

None.

Not signed on (150)

150 members have not signed on to this bill.

Show all 150 →

"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

Whip count is in markup. Polling the chamber and every recorded vote this session. Only the first open is slow. It’s instant for you after this. Calling the roll · Tallying · Engrossing

Subjects

finance housing
Cross-referencing the record. Reading this bill against every other bill in the corpus by meaning, not keywords. Only the first open is slow. It’s instant for you after this. Matching · Ranking · Engrossing

Frequently asked questions

What is the current status of SF 567?
This bill has been enacted into law. Introduced March 08, 2021. Enacted.
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