Iowa 2023-2024 Regular Session Status: In Committee

HSB 609 — A bill for an act relating to mortgage administration and mortgage servicers.

Last action — Committee report approving bill, renumbered as HF 2392.

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

This bill died with 2023-2024 Regular Session. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.

This bill is no longer active — its legislative session has ended, so there is no live prognosis. It would have to be reintroduced in the current session to move again.

Bill Text

How this bill changes current law

9 changes Share ↗

AI-generated reading aid from the bill's amendatory text — verify against the official bill.

  • Section 535B.1

    “Branch office” means any location, other than a licensee’s principal place of business or a remote location, where the licensee, the licensee’s employees, or the licensee’s independent contractors maintain a physical presence to engage in business as a mortgage banker or a mortgage broker.

    Defines what constitutes a branch office in mortgage banking.

  • Section 535B.1

    “Principal place of business” means a licensee’s primary business office as designated on the licensee’s application for licensure.

    Defines the term 'principal place of business' for mortgage licensees.

  • Section 535B.1

    “Remote location” means a physical location in the United States, other than a licensee’s principal place of business or a branch office, where a licensee’s employee or an independent contractor of the licensee is authorized by the licensee to engage in business as a mortgage banker or mortgage broker.

    Defines remote work locations for mortgage licensees.

  • Section 535B.4

    the address of → all addresses the

    Modifies the requirements for license applicants to include all branch office addresses.

  • Section 535B.4

    shall not establish a branch locations office outside of the United States. → may establish a branch office outside of the United States.

    Allows licensees to establish branch offices outside of the U.S.

  • Section 535B.11

    Answer → As required by 12 C.F.R. §1026.36, answer in writing, within ten business days of receipt, any written request for payoff information received from a mortgagor or the mortgagor’s designated representative.

    Clarifies response timelines for payoff information requests.

  • Section 535B.16

    maintaining an a branch office → maintaining a branch office

    Corrects grammatical wording in notification requirements for branch office closures.

  • Section 535B.21

    A licensee may authorize work at a remote location provided all of the following requirements are met: ...

    Establishes conditions under which employees may work from remote locations.

  • Section 535B.22

    As used in this subchapter unless the context otherwise provides: ...

    Introduces a section for definitions relevant to the mortgage servicer regulations.

Action History

  1. Committee report approving bill, renumbered as HF 2392.

  2. Committee report, recommending amendment and passage.

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

  4. Subcommittee Meeting: 01/31/2024 11:30AM RM 304.

  5. Subcommittee: Nordman, Scholten and Vondran.

  6. Introduced, referred to Commerce.

Sponsors

  • COMMITTEE ON COMMERCE · Primary

Sponsorship breakdown

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1 sponsors · 0 co-sponsors · 149 not signed on

Sponsors (1)

  • COMMITTEE ON COMMERCE

Co-sponsors (0)

None.

Not signed on (149)

149 members have not signed on to this bill.

Show all 149 →

"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

Who sponsors HSB 609?
HSB 609 is sponsored by COMMITTEE ON COMMERCE.
What is the current status of HSB 609?
This bill died with 2023-2024 Regular Session. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.
Where can I track HSB 609?
Track HSB 609 free on One Click Politics — get push/email alerts when it moves.

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